The Secretary General of the AfCFTA, H.E. Wamkele Mene, had an intensive diplomatic activity yesterday as part of his visit to Mauritius.
In the first meeting of the day, His Excellency Wamkele Mene met with the Minister of Financial Services and Good Governance, Honorable Mahen Kumar Seeruttun. During the meeting, the Minister emphasised the importance of the AfCFTA negotiations on trade in services for Mauritius. Issues relating to the liberalisation of financial services were discussed, including the authorisation for African banks to collect deposits and other financial services. The Minister reiterated his country’s willingness to share experiences in the field of services, in particular with regard to negotiations for the establishment of a regulatory framework for financial services. The Secretary General highlighted the extension of the guided trade initiative to the field of services, as well as the fields of interest to Mauritius.
The Secretary General had also a meeting with the Minister of Finance, Economic Planning and Development, Dr. Renganaden Padayachy, the Secretary General emphasised the importance of the Pan-African Payment and Settlement System (PAPSS), set up by the AfCFTA Secretariat and Afreximbank. This continental platform for processing, clearing and settling payments, allows instant cross-border payments in local currencies between African countries. H.E. Wamkele Mene also reported on the significant steps being taken to operationalise the AfCFTA Adjustment Fund, highlighting the recent board meeting held in Kigali, Rwanda. The fund has been established to respond to the challenges of short-term negative impact of the liberalization process on State Parties’ fiscal capacities. For his part, Minister Padayachy expressed his country’s interest in negotiations on trade in services as well as goods, particularly the rules of origin on textiles and clothing.
Finally, the Secretary General of the AfCFTA Secretariat met with the Minister of Land Transport and Light Rail, Honorable Alan Ganoo of Transport. During the meeting, general issues about the continent’s economic integration were discussed.
