The Economic Community of West African States (ECOWAS) has said that the need to remove trade obstacles had forced it to create a framework to make that a reality.
Sharing this plan was the president of the commission, Jean-Claude Brou, represented by the acting Director, Trade, ECOWAS, Kolawole Sofola, while marking the commission’s 46th anniversary.
The theme of the webinar, jointly organised by the commission and the Lagos Chamber of Commerce and Industry (LCCI), was ‘Optimising sustainable trade, investment and regional economic integration through effective partnership between ECOWAS institutions and the organised private sector’.
Brou said that the growth of all sectors would need to be propelled by digitisation, as that would sit at the centre of economic recovery.
He said, “The growing importance of informal trade compels the ECOWAS to create a framework expected to engender more availability and reliability of up-to-date information on informal trade.
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“The framework also seeks to implement reform that is essential to eliminate obstacles to informal trade among others.
“It is important to improve investment, particularly, private investment, in all sectors and I stress that digitalisation must be at the centre of activities for economic recovery.
“Infrastructural deficit must be addressed as well as sustainable and cheaper energy for the competitiveness of products.”
“The Commission is developing projects on roads, renewable energy and education, needed for private sector development; all these to lift millions in the sub-region out of poverty.”
