Hon Chairperson, hon Ministers, Deputy Ministers and hon members, it has taken some time for trade and services to be acknowledged as an integral part of the world economy. And, until a few decades ago, the services were regarded as invisible, nontradable and confined to domestic economies.
The increasing number of jobs, the significant contribution that services have made to the percentage of the gross domestic product, GDP, of both developing and developed countries and the growing percentage of domestic and foreign direct investment in the service sector have exposed to governments and economists the important role that services play in economic growth and development. For instance, today services companies account for no less than 50% of all foreign direct investment in the global economy.
The Southern African Development Community member states have noticed the increasing mobility of services, not only in the region, but also across the continent and therefore seek to facilitate through this protocol regional economic integration, investments and job creation. This resonates with the resolution on economic transformation ... [Interjections.]