ECOWAS holds annual meeting focusing on regional trade promotion

The Gambian Minister of Trade, Industry, Regional Integration and Employment, Baboucarr Ousmaila Joof, expressed his belief that intra-regional trade could create markets, stimulate industrial growth, and generate job opportunities for West African citizens. Speaking at the opening ceremony of the 4th Annual General Meeting of the Trade Promotion Organizations (TPO) Network of the Economic Community of West African States (ECOWAS) on Tuesday, July 16, 2024, in Banjul, Gambia, he emphasized the importance of regional efforts to boost trade in West Africa.

“Our collective efforts to promote trade and investment in the ECOWAS region are essential to achieving sustainable economic growth. By working together, we can create a more integrated and prosperous region where trade flows freely, business thrives, and our people enjoy a better standard of living,” Joof stated. “As Minister of Trade and Integration, my participation in this Annual General Meeting gives me the satisfaction and assurance that regional integration is not a utopia but that it is indeed achievable.”

Kolawole Sofola, Director of Trade at the ECOWAS Commission, highlighted that trade and market integration are key priorities for the regional organization. Representing Dr. Oumar Alieu Touray, President of the ECOWAS Commission, and Mme Massandjé Touré-Litsé, Commissioner for Economic Affairs and Agriculture, Sofola recalled that the revised Treaty of 1993 calls for liberalizing trade through various instruments such as eliminating customs duties within the customs union and removing administrative barriers to trade between member states.

Sofola also reported on ECOWAS’ ongoing efforts to improve regional trade through initiatives like formulating a common trade policy and an action plan for eliminating non-tariff barriers. “These draft instruments should make it possible to improve intra-regional trade and eliminate tariff and non-tariff barriers facing economic operators in our region,” he added.

He acknowledged the cooperation with the West African Economic and Monetary Union’s (UEMOA) Network of Trade Economic and Monetary Union in the regional integration program. He also thanked the International Trade Centre (ITC) for its strategic partnership in establishing the ECOWAS TPO Network.