ECOWAS Commission President Addresses Low Intra-Community Trade Volume

On the activities of the Economic Community of West African States (ECOWAS) Commission, President Dr. Alieu Touray expressed his concerns about the low trade volume among member states, which stands at around 12%.

He also pointed out that the trade volume within the larger African continent is not impressive, hovering under 20%.

Despite the presence of strategies and policies to encourage trading and movement of goods and people within the subregion, the current political situations within the subregion have overshadowed the efforts of the regional bloc at addressing the needs of citizens of the community.

Touray emphasized that the ECOWAS is actively involved in virtually all facets of human development in the region, planning and providing for the contemporary needs of the community.

However, the strides towards an economic union have been overshadowed by contemporary political developments.

With the goal of increasing the trade volume, Touray stressed the importance of opening the markets for locally produced and manufactured items.

He also highlighted the need for sufficient local content on production within the sub-region.

In developed countries, the trade volume is significantly higher, with an average of 60 to 70% within their regions.

This indicates that there is a long way to go for the ECOWAS subregion to reach a similar level of trade integration.

The briefing, which took place in Abuja, was a crucial step in addressing the concerns of the ECOWAS Commission and its member states, and it is hoped that these issues will be resolved to foster a more prosperous and interconnected subregion.