Clearly, the expansion of trade helps exporting firms and their workers. As consumers, nearly all of us benefit from trade by gaining access to a broader range of goods and services. But some of us, such as workers in industries facing new competition from imports, are made at least temporarily worse off when trade expands.
It is an honour for me to make a few remarks on this occasion of the CLS Reception to mark ten years of settlement of the rand in the CLS system. I am particularly pleased that the CLS delegation to mark this key milestone is led by none other than the Chairman of the CLS Board, Mr Kenneth Harvey.