NEWS

Trade Minister Rob Davies Says We Need To Work Less, And Work Smarter

"And I think a lot of that will come from a new global deal."

03/05/2017 13:24 SAST | Updated 03/05/2017 13:42 SAST
Bulent Doruk/Anadolu Agency/Getty Images
South African Minister of Trade and Industry Rob Davies.

Trade and Industry Minister Rob Davies said on Wednesday economies needed to ensure people don't spend long hours at work, while others don't have jobs at all. One way could be to adopt new technologies, which he believes will help rid the world of many social problems.

"We need to move towards a world where there are perhaps shorter working hours and guaranteed incomes. And I think a lot of that will come from a new global deal," Davies said, according to Fin24.

Davies also reportedly said inclusive growth in Africa will happen if higher levels of industrialisation are promoted. He said the World Economic Forum (WEF) -- currently happening in Durban -- is helping him understand the importance of being involved in our own growth conversations.

"I myself have picked up from the WEF a much greater understanding than I would have picked up elsewhere about the developments called the fourth industrial revolution -– what the opportunities are, what the risks are -– and why we need inclusivity in our growth processes", Davies told Fin24.

"I think also globally we need to move from insipid levels of growth. Growth may be higher this year due to higher commodity prices, but ultimately we're at the whim of cycles –- and we will probably never see a return to levels seen at the commodity supercycle."

Davies spoke to the financial website at the 27th World Economic Forum (WEF) Africa. The global meeting includes heads of state, business and NGO leaders, and members of the academic fraternity, and is taking place in Durban from May 3 to May 5. This year's WEF is themed Achieving Inclusive Growth through Responsive and Responsible Leadership