Participants at the event
By Mark Longyen
The ECOWAS Commission has pledged to work with the Chambers of Commerce and Industry of Member States to unlock the vast economic potentials in the region based on the principles of transparency, accountability and inclusivity.
ECOWAS Commissioner for Economic Affairs and Agriculture, Mrs Massandje Toure-Litse stated this at the opening of a two-day training for members of the Lagos State Chambers of Commerce and Industry in Lagos.
Represented by Dr Tony Elumelu, ECOWAS Director, Private Sector, the commissioner said the decision was informed by the Commission’s recognition of the private sector’s critical role in driving economic growth and development.
“Participants should seize the opportunity by working collaboratively and leveraging available resources so that they can increase their contribution to improving the lives of ECOWAS citizens.
“We are committed to creating an enabling environment that supports entrepreneurship, innovation, and job creation.
“With its rich cultural heritage, diverse economies and resilient peoples, the region is poised to capitalise on the opportunities presented by regional integration and continental cooperation,” she said.
Toure-Litse noted that the region had made significant strides in promoting economic integration, trade facilitation, and investment promotion through regional policies and frameworks.
She listed the efforts as the Revised ECOWAS MSMEs Charter; ECOWAS Trade Liberalisation Scheme (ETLS); and the ECOWAS Common External Tariff (CET), designed to promote intra-regional trade, enhance competitiveness, and attract foreign investment.
The commissioner announced that, to augment the investment climate of the region, ECOWAS was institutionalising a Business Council as the apex body for business matters.
She said that the council would also serve as a platform for meaningful private sector engagement, facilitating dialogue and collaboration between the public and private sectors.
Toure-Litse said that the council was expected to play a pivotal role in promoting entrepreneurship, innovation, and job creation, thereby contributing to the region’s economic growth and development.
She said that the Community’s Investment Code and Policy wee being harmonised with the African Continental Free Trade Area (AfCFTA) framework.
According to her, the process is expected to enhance regional competitiveness, attract foreign investment, and create new opportunities for economic growth and development.
“AfCFTA presents a unique opportunity for West Africa to expand its trade and investment relations with other African countries, leveraging our strategic location, rich natural resources, and diverse markets,” she noted.
The commissioner described the capacity-building workshop as a crucial component of the region’s efforts to empower the private sector, particularly small and medium-sized enterprises (SMEs).
She added that it would also help the participants to navigate the complexities of regional and continental trade frameworks.
Also speaking, Amb. Aminou Akadiri, the Chief Executive Officer of the Federation of West African Chambers of Commerce and Industry, said the training was designed for selected business operators.
He listed the selected sectors to include agribusiness, transport and clearing agencies aimed at equipping them with the necessary skills that would help them navigate the complexities of cross border trade.
Akadiri, who represented the President of FEWACCI said that participants were expected to explore issues related to trade facilitation, customs procedures and regulatory frameworks that impacted on the free movement of agricultural products and enhance the business environment.(NAN)
