In a bid to bolster economic relations, Trade Minister Cheong In-kyo recently held discussions with Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA), in Seoul. The meeting, focused on fostering closer ties between South Korea and Africa, underscored the significance of collaboration amid rising global protectionism.
The AfCFTA, hailed as the largest trade bloc in Africa, officially commenced operations in January 2021. Minister Cheong emphasized the importance of this development, particularly in light of growing trade barriers worldwide.
Highlighting an upcoming summit slated to take place in Seoul in June, Minister Cheong articulated South Korea's commitment to nurturing a mutually beneficial and enduring partnership with African nations. The summit is poised to serve as a platform for advancing discussions on various economic fronts.
Furthermore, Minister Cheong appealed to Secretary General Mene for support in South Korea's endeavors to establish economic partnership agreements with key African countries such as Morocco, Kenya, and Tanzania. This strategic outreach aims to foster enhanced cooperation and promote sustainable economic growth.
As South Korea continues to engage with Africa, avenues for fostering greater trade and investment opportunities are being explored, signaling a commitment to fostering global economic integration.
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