Seoul, Republic of Korea, 27 May 2025 – The AfCFTA Secretariat and the Ministry of Foreign Affairs of the Republic of Korea have signed a Memorandum of Understanding on the establishment and operationalisation of the Korea-AfCFTA Cooperation Fund. The signing marks a significant milestone in advancing strategic collaboration between Africa and the Republic of Korea.

The MoU reflects a shared vision of inclusive and sustainable growth, reaffirming both parties’ commitment to deepening economic cooperation. It builds on the outcomes of the historic Korea-Africa Summit held in June 2024 under the theme “The Future We Make Together: Shared Growth, Sustainability, and Solidarity,” which recognised the importance of strong institutional frameworks in driving long-term development.

Speaking at the ceremony, H.E. Wamkele Mene, Secretary-General of the AfCFTA, underscored the importance of this partnership in bringing tangible support to Africa’s development agenda. He expressed particular appreciation for the Republic of Korea’s readiness to provide financial support for jointly agreed projects that align with the priorities of the AfCFTA.

“This is a major step in operationalising our shared vision,” said the Secretary-General. “It speaks not only to Korea’s leadership as a development partner, but also to the growing recognition of Africa’s vital role in shaping a more equitable and sustainable global economy.”