Trade disputes will rise despite AfCFTA – Wamkele Mene

AfCFTA secretariat sets up dispute settlement mechanism

Rules to be applied in settling disputes, AfCFTA Secretary-General

We would be impartial in solving trade 'fights' - Wamkele

Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has said trade disputes may rear its head up despite the agreement from member states.



Read full article/> Due to this, the secretariat has set up a dispute settlement mechanism to ensure that the matters that arise during trading are settled amicably.

He stated that the rules would be applied impartially for there to be a smooth running of businesses across the continent.

Speaking on TV3's Business Focus on Monday, December 13, 2021, Wamkele Mene said, “It is expected that trade disputes will arise of one form or the other...And so we will have to apply the rules where these disputes do arise and apply the rules in a way that is impartial and that is competent and that, at the end of that process, seeks to make sure that we uphold the integrity of the trading system in Africa."

Trading on AfCFTA was originally tipped to start on July 1, 2020, but suffered a setback as a result of the coronavirus pandemic leading to the suspension of negotiations.

The intra-African trade pact witnessed 90 percent of all goods traded and is now the single largest market on the continent.

On January 1, 2021, 54 African countries that signed agreements and deposited their instruments of AfCFTA ratification enjoyed a tariff-free market.

AfCFTA has the largest number of member countries in any trade deal since the formation of the World Trade Organization in 1995.