AfCFTA Secretariat to finalize Digital Trade Protocol, Wamkele Mene says
The Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Wamkele Mene, has announced plans to introduce a pivotal protocol on digital trade later this month. The primary objective of this initiative is to foster an environment conducive to the success of African youth in the rapidly evolving digital landscape across the continent.
Speaking at the inauguration of the Africa Prosperity Dialogues held at the Peduase Presidential Lodge, the Secretary General emphasized the Secretariat’s commitment to not only protect foreign investors but, more crucially, to safeguard the interests of African investors. In addition to the imminent protocol on digital trade, efforts are underway to finalize protocols addressing the roles of women and youth in trade.
“We have established a protocol on investments to protect not primarily foreign investors but to protect African investors… so we will conclude a protocol on women and youth in trade and also conclude the protocol on digital trade this month.
“The protocol on digital trade positions us to harness the benefits of Africa’s digital economy for the inclusion of young Africans who are at the cutting edge of digital innovation and who require the regulatory support for them to thrive in the Africa digital market,” he stated.
The Secretary General highlighted the significance of the protocol on digital trade, emphasizing its potential to leverage the benefits of Africa’s burgeoning digital economy. The aim is to provide regulatory support that empowers young Africans engaged in cutting-edge digital innovation to thrive within the African digital market.
Reflecting on the past three years, the Secretary General expressed satisfaction with the considerable progress made by AfCFTA in realizing the vision of its founders. Notable achievements include the development of the AfCFTA tariff book, offering private sector stakeholders clarity on applicable tariffs for their exports. Moreover, the establishment of harmonized Rules of Origin is facilitating trade certainty between African nations.
Looking forward, the Secretary General stressed the importance of devising a comprehensive private sector strategy, identifying key sectors such as agriculture, pharmaceuticals, transport, and logistics for growth. Partnerships with entities like the Africa Business Council, African Development Bank (AfDB), and Afreximbank have been instrumental in mobilizing resources to translate the AfCFTA vision into reality.
In concluding remarks, the Secretary General urged Africans to take charge of narrating their stories, viewing challenges as opportunities. The ongoing three-day Africa Prosperity Dialogues, themed “Delivering Prosperity in Africa: Produce, Add Value and Trade,” is positioned to propose tangible measures toward achieving prosperity for the continent. The event underscores the collective efforts required to drive economic growth through production, value addition, and robust trade practices.