The ECOWAS Commission, in collaboration with the International Trade Centre (ITC), organized the 2nd virtual Regional Workshop on the African Trade Observatory (ATO) on 8 September 2021 for Experts from Ministries of Trade and National Statistics Agencies, as well as representatives of Customs Authorities to review status of development of the Observatory.The African Trade Observatory, is one of the five African Continental Free Trade Area (AfCFTA) operational instruments along with the rules of origin; the online negotiating forum; the monitoring and elimination of non-tariff barriers; and the digital payment system, that was launched at the African Union 12th Extraordinary Summit held in July 2019 in Niamey – Niger.
In his opening remarks, Mr. Kolawole SOFOLA, Acting Director of Trade, on behalf of H.E. Jean Claude Kassi Brou, President of the ECOWAS Commission, and Tei KNOZI, Commissioner for Trade, Customs and Free Movement, recalled the importance of the AfCFTA in achieving Sustainable Development Goals, the African Union (AU) Agenda 2063 and deepening the regional integration agenda. Before he declared the meeting open, he highlighted the expected benefits of the ATO for the ECOWAS region which include increased competitiveness, market opportunities for traders, and development of regional value chains and new sectors.
This second regional meeting on the African Trade Observatory provided an update on the operational development of the observatory. During the meeting, ITC provided participants with an overview of the observatory, including its main features and how national experts can engage with the platform.
The African Trade Observatory seeks to provide real-time and reliable data, as well as equip African businesses with trade intelligence on trends, opportunities, and market access conditions. Furthermore, the ATO Monitor module, empowers government agencies and policymakers in monitoring the AfCFTA implementation process and evaluating its impact on their economies. The African Trade Observatory has four main features including Automatic data transfer system; the Monitor module; the Business intelligence dashboard and the trade analysis unit. The West African Trade&Competitiveness Observatory being developed by the ECOWAS Commission in collaboration by ITC, under the framework of the West African Competiveness Programme, which is financed by the European Union, will further compliment the functions of the ATO.
Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).
© 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.
