London, 30 March 2022 (TDI): Wamkele Mene, Secretary-General of the African Continental Free Trade Agreement (AfCFTA) Secretariat met with Anne-Marie Trevelyan, UK Secretary of State for International Trade and President of The Board of Trade, and Ms. Vicky Ford, Minister for Africa, Latin America & Caribbean of the UK in London. The meeting was focused on UK – AfCFTA relationship and its development in the future.
Before the meeting with UK high-rank officers, Wamkele Mene met with the Group of African Ambassadors/High Commissioners in the UK yesterday to introduce the progress of the AfCFTA negotiations and steps to initiate commercially meaningful trade under the AfCFTA.
THE DEVELOPMENT OF AfCFTA
African Continental Free Trade Agreement (AfCFTA), approved by the 18th ordinary Session of Assembly of Heads of State and Government, held in Addis Ababa, Ethiopia in January 2012, is a flagship project as a part of Agenda 2063 of the African Union (AU).
The AfCFTA aims to accelerate intra-Africa trade and promote Africa’s trade position in the global market. Its main strategy is to strengthen the influence of Africa’s common voice and policy in global trade negotiations.
Until 5 February 2021, 36 countries have deposited their instruments of ratification, and have ratified the AfCFTA agreement
MOU SIGNED AND THE UK – AfCFTA RELATIONSHIP
UK Department for International Trade (DIT) remarked that the UK is a strong supporter of the AfCFTA. In September 2021, UK Minister for Africa, James Duddridge, joined Secretary-General of the African Continental Free Trade Area secretariat, Wamkele Mene, at the AfCFTA secretariat’s headquarters in Accra to sign the Memorandum of Understanding (MoU) between two sides, which is the first of its kind with a non-African country.
UK Minister for Africa, James Duddridge remarked that the UK is the first non-African nation to recognize the opportunities for trade and investment; that the Africa Continental Free Trade Agreement offers, not just across the continent but globally.”
UK AND AfCFTA HAS ENHANCED THE INVESTMENT RELATIONSHIP
During the UK-Africa Investment Summit held in 2020; Prime Minister Boris Johnson announced 27 trade and investment deals worth £6.5bn and further commitments worth £8.9bn.
UK Government’s development finance institution committed to invest a further £2 billion. Those investments would be in fields related to Sustainable Development Goals by 2022 in Africa.
To promote the continued warming of relations between the two sides after the 2020 summit; the first Africa Investment Conference was held by the British government on January 20, 2021.
Furthermore, on January 20, 2022; the second African Investment Conference took place. During the virtual conference, Prime Minister Boris Johnson expressed the British desire to be Africa’s partner of choice. Free trade and investment were the most formidable tools to boost the relationship between the UK and African countries.
International Relations student at the Universidad de Navarra in Spain. Main interests are the work of International Organizations like the UN in the scope of humanitarian assistance to vulnerable human beings and the environment
