HON.ELIZABETH OFOSU-ADJARE CALLS FOR HARMONIZATION OF STANDARDS TO BOOST INTRA-AFRICAN TRADE
The
Hon.Minister for Trade, Agribusiness & Industry, Hon.Elizabeth Ofosu-Adjare
has called on her colleague Ministers of Trade & Industry in ECOWAS to
expedite the process of harmonization of standards to facilitate trade in goods.
The
Minister made the passionate call during the 4th Joint Meeting of
the ECOWAS Ministers of Trade & Industry held in Abuja, Nigeria from 15-16
May 2025.
In
line with the desire to promote intra-regional trade and spur growth, the 4TH
Joint Meeting of the ECOWAS Ministers of Trade and Industry focused on various multilateral,
continental, regional and bilateral trade issues including the outcome of the
13th WTO Ministerial Meeting (MC13), the status of the African
Continental Free Trade Agreement (AfCFTA), bilateral trading relations and the
draft Cooperation Agreement between the ECOWAS Regional Competition Authority
(ERCA) and Member States on the implementation of Competition and Consumer
Protection Rules within ECOWAS.
Commenting
on the reports by the Senior Experts, Hon.Ofosu-Adjare indicated that 50 years
celebration of ECOWAS should spur Member countries to reflect on the modest
achievements made and chart a new course for the years ahead.
The
Minister, in her contribution, highlighted the fact that one of the key tenets
of ECOWAS is economic empowerment and current geo-political realignment, trade
disruptions affecting supply chains coupled with global inflationary trends poses
a major challenge to the region.
However, she contended that, as Ministers of
Trade & Industry this was an opportune time to reset regional trade imbalances
by taking advantage of AfCFTA and other market access.
According to
the Minister, AfCFTA has the potential to transform Africa’s economy with a
projected GDP of 7% or US$45B by 2035 and to boost intra-African trade.
On
infrastructural and logistics support to enhance the movement of goods and
services across the region, the Minister emphasized the need for a joint
meeting between the Ministers of Trade & Industry and Ministers of
Transport. “Our inability to address this as a matter of urgency would
undermine the private sectors efforts in deepening our bilateral trade” she
said.
Speaking
on behalf the ECOWAS Commission, Mrs. Toure-Litse reaffirmed the commitment of
the Commission to continue to promote and accelerate the implementation of
economic integration programmes at regional and continental levels, including
issues related to the elimination of trade barriers, improvement of regional
quality infrastructure as well as the implementation of various regional
initiatives to promote regional value chains and investment.
Dr.
Paul Koffi Koffi on behalf of the President of WAEMU Commission emphasized that
WAEMU is fully committed to working alongside ECOWAS to address the common
challenges confronting the sub-region.
Senator
John Owan Enoh, who represented the Government of Federal Republic of Nigeria, expressed
the hope that the recommendations from the Ministerial Meeting would address
issues related to industrial development and improvement of intra-regional
trade.
The
chairperson of the 4th Joint Meeting of the ECOWAS Ministers of
Trade & Industry, Dr. Jumoke Oduwole, Minister for Industry, Trade & Investment
of the Federal Republic of Nigeria, added that the presence of her colleague
Ministers demonstrated the collective commitment of Sector Ministers to
advancing regional integration, fostering industrial development and enhancing
trade within the community.
The
Experts and Senior Officials who took part in the Experts Meeting were Mr. Kofi
Addo, Chief Commercial Officer and Mrs. Stella Akosua Ansah, Chief Commercial
Officer both of Ministry of Trade, Agribusiness & Industry, Mr. Yao Fechin
Akoto, Ghana Revenue Authority, Customs Division and Mrs. Diana A. Amponsah of
Ghana Standards Authority.
