ECOWAS Commission and UNECA organize a technical review of the draft Regional AfCFTA Implementation Strategy

  

Economic Community of West African States (ECOWAS)


The ECOWAS Commission, in collaboration with the United Nation Economic Commission for Africa (UNECA), organized a meeting on 23-25 November 2021 in Abidjan – Cote d’Ivoire, to review the draft Regional AfCFTA Implementation Strategy as part of preparations towards a regional validation workshop by ECOWAS Member States.

The African Continental Free Trade Area Agreement which entered into force on May 2019 will create the largest free trade area in the world. According to estimates, the AfCFTA will connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion.

In his opening remarks, the representative of UN Economic Commission for Africa (UNECA), Mr. Amadou DIOUF highlighted initiatives being undertaken by UNECA towards the implementation of the AfCFTA, including supporting the development of national AfCFTA implementation strategies. He underscored the role of Regional Economic Communities as the building blocks for African economic integration and commended the ECOWAS Commission for initiating the development of the regional implementation strategy which would complement efforts being taken at the national level.

Speaking on behalf Mr Tei KONZI, Commissioner for Trade, Customs and Free Movement of the ECOWAS Commission, Mr. Kolawole SOFOLA, Acting Director of Trade, recalled the coordination role of the ECOWAS Commission in the negotiation and implementation of the AfCFTA Agreement. Whilst emphasizing the importance of the development of implementation strategies, he stressed the need to strengthen regional and continental value chains. He added that the development of an ECOWAS regional implementation strategy will ensure a coordinated, integrated and coherent implementation of the AfCFTA.

Prof. Loesse Jacques ESSO, Director of Cabinet, representing Mr. DIARRASSOUBA, Minister of Trade and Industry of Cote d’Ivoire, highlighted the low level of intra-Africa trade which counts for 16 % in 2021 according to the World Bank. He added that the launching of the AfCFTA demonstrate the political commitment of African Heads of States in using intra-Africa Trade to face the challenges of structural transformation of economies, create opportunities for youth employment and wealth creation, as well as poverty reduction. In addition he highlighted the efforts undertaken by the Ivoirian authorities to lay down the basis for AfCFTA implementation including the establishment of the AfCFTA Committee and the development of a national implementation strategy.

The meeting was attended by Experts from ECOWAS Member States, as well as officials from ECOWAS and UEMOA Commissions. Participating partners included UNECA, UNDP and GIZ.

Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).

Send us your press releases to pressrelease.zawya@refinitiv.com


© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases