The secretary-general of the African Continental Free Trade Area (AfCFTA) called for deeper trade and investment ties between Africa and South Korea as governments and businesses seek new growth opportunities amid rising global economic uncertainty.
Speaking at a roundtable of the Africa-Korea Economic Committee, AfCFTA Secretary-General Wamkele Mene announced the establishment of the Africa-Korea Business Committee, describing it as a key mechanism for translating commitments made during the 2024 Korea-Africa Summit into concrete commercial partnerships.
The new platform is expected to strengthen engagement between African and Korean private-sector companies and accelerate investment across sectors, including manufacturing, mining, industrial development, and climate-related projects.
“Africa and Korea must work together to build greater stability, expand trade and investment flows, and produce measurable results that demonstrate the strength, resilience, and value of this partnership,” Mene said.
,South Korea, home to some of the world’s largest industrial and technology companies, has been expanding its economic engagement across the continent in search of new markets, supply chains, and strategic resources.
Mene cited opportunities created by the AfCFTA, which is designed to create the world’s largest free-trade area by number of participating countries and improve market access across the continent.
He pointed to Africa’s growing potential in manufacturing, strategic minerals, green industrialization, and climate-focused investments, sectors increasingly attracting global capital as countries race to secure critical mineral supplies and accelerate the energy transition.
The AfCFTA chief also reiterated Africa’s commitment to a rules-based trading system and ongoing efforts to remove barriers to trade and investment, measures aimed at improving the business environment and facilitating cross-border commerce.
The Africa-Korea Business Committee is expected to serve as a bridge between policymakers and businesses, helping to convert diplomatic agreements into commercial projects and long-term investment partnerships.
Mene urged companies from both regions to seize emerging opportunities and build sustainable ventures capable of delivering tangible economic benefits.
The initiative marks one of the first major institutional outcomes of the 2024 Korea-Africa Summit and reflects growing efforts by both sides to deepen economic cooperation at a time of heightened geopolitical and trade uncertainty.
