Ministry of Trade, Industry and Energy Launches Efforts to Expand Exports to Africa

Andeokgeun, Director General for Trade Negotiations, Meets Wemkele Mene, Secretary General of AfCFTA

Anduk Geun, Head of Trade Negotiations at the Ministry of Trade, Industry and Energy, is attending the 'Korea-Japan Export Companies Meeting' held at the Korea International Trade Association in Gangnam-gu, Seoul on the 22nd. Photo by Jinhyung Kang aymsdream@

The government is seeking to secure the African Continental Free Trade Area (AfCFTA) market to expand exports to Africa. The AfCFTA is a massive economic bloc with a population of 1.3 billion and a gross domestic product (GDP) of 3.4 trillion dollars.

According to the Ministry of Trade, Industry and Energy on the 26th, Andeok Geun, the head of trade negotiations, met with Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA), who is visiting Korea on the 26th, to discuss ways to expand Korea-Africa economic cooperation. Officially launched in January 2021, the AfCFTA is the largest free trade area formed since the establishment of the World Trade Organization (WTO), with 54 African countries as members.

Head Andeok said, "We highly appreciate that the African continent has laid the foundation for boosting intra-regional trade through the launch of AfCFTA," and explained, "Our government is promoting various trade agreements such as the Economic Partnership Agreement (EPA) and the Trade and Investment Promotion Framework (TIPF) for mutual cooperation with African countries." He added, "Secretary-General Mene is expected to visit several Korean companies during this visit to discuss ways to expand participation in the African market, including how Korean companies can utilize AfCFTA’s preferential tariffs."

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