AfCFTA will not take away trade disputes among countries but we will tackle them – Wamkele Mene
The fact that there is African Continental Free Trade Area (AFCFTA) does not mean there will not be any trade disputes or misunderstandings among members, Mr Wamkele Mene Secretary-General of the (AFCFTA) has admitted.
He indicated that such disputes are likely to happen.
But he has assured that the secretariat has adopted some measure for such disputes not to have a massive impact on the countries involved.
“It is expected that trade disputes will arise of one form or the other,” the Secretary-General intimated
“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,”
To boost trade amongst countries on the African continent the AFCFTA was Founded in 2018, whiles its agreement commenced operations after its headquarters were commissioned in Accra, Ghana
The aim of this agreement, among others, is to create the single largest market in the world on the continent to deepen economic integration.
Mr Mene further reiterated that the agreement is very clear on what each state party has to do “whether it relates to transit, trade facilitation or any other issue”.
But the Secretariat, he revealed, has set up a dispute settlement mechanism “that will be invoked where a specific country has a reason to believe that they have been injured and that a violation of their right under the Agreement has taken place”.
Mr Wamkele also explained that trade disputes will not be peculiar to the AfCFTA as even the World Trade Organization (WTO) continues to settle disputes here and there among member countries.
By: Stella Annan | myactiveonline.com Twitter @activetvgh
