The ECOWAS Commission, in collaboration with the Federation of West African Chambers of Commerce and Industry (FEWACCI) and the FTAA Secretariat, organized a three-day capacity-building workshop for private sector leaders on the implementation of the African Continental Free Trade Area (AfCFTA). The event took place from July 29 to 31, 2024, in Lagos, Nigeria.
The workshop addressed several key topics including a general presentation on the AfCFTA, the Protocol on Trade in Goods and Services, Customs Administration, Investment, Digital Trade, Competition Policy, and the Protocol on Women and Youth in Trade. Participants also received information on operational tools of the AfCFTA, its regional strategy and implementation initiatives, and the role of the private sector in achieving its objectives.
Businessmen and women attending were provided with essential information, knowledge, and tools to leverage opportunities offered by the AfCFTA. This aims to contribute to business development within the ECOWAS area and promote regional economic integration across Africa.
At the conclusion of their interactive sessions, participants recommended that ECOWAS Member States ratify the AfCFTA if they have not yet done so. They also called for better financing and promotion of women and young people to enhance their participation in AfCFTA activities.
Additionally, an appeal was made to the ECOWAS Commission to increase awareness of AfCFTA texts throughout the region. There was also a call for re-establishing the ECOWAS Trade Fair. Companies were encouraged to utilize the Pan-African Payment and Settlement System (PAPSS) to streamline payment processes.
The meeting saw attendance from Directors General, Secretaries General, heads of private sector organizations within ECOWAS, representatives from FEWACCI, AfCFTA Secretariat members, and officials from the African Export-Import Bank (Afreximbank).
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