Minister for Trade, Agribusiness & Industry Elizabeth Ofosu-Adjare has challenged her fellow ministers in the regional bloc , Economic Community of West African States (ECOWAS) to accelerate the harmonization of regional standards so as to reduce trade bottlenecks and boost intra-African trade. Her appeal came during the 4th Joint Meeting of the ECOWAS Ministers of Trade & Industry held in Abuja, Nigeria.
Madam Ofosu-Adjare stressed that aligning standards across member states is crucial to facilitating smoother trade in goods within West Africa and beyond.
“The 50th anniversary of ECOWAS should spur Member countries to reflect on the modest achievements made and chart a new course for the years ahead,” she said.
The two-day high-level meeting brought together ministers and trade experts from across the ECOWAS region to deliberate on a wide array of regional and global trade issues. These included outcomes from the 13th WTO Ministerial Conference (MC13), progress on the African Continental Free Trade Area (AfCFTA), bilateral trade dynamics, and a draft Cooperation Agreement between the ECOWAS Regional Competition Authority (ERCA) and Member States to strengthen competition and consumer protection across the region.
Highlighting the urgency of the moment, Madam Ofosu-Adjare noted that geopolitical realignments, supply chain disruptions, and global inflation are reshaping trade dynamics. She urged the region to seize the opportunity to reset trade imbalances and leverage the AfCFTA to unlock new growth.
“As Ministers of Trade & Industry, this is an opportune time to reset regional trade imbalances by taking advantage of AfCFTA and other market access,” she stated.
She pointed to AfCFTA’s transformative potential, citing its forecasted GDP contribution of 7% equivalent to US$45 billion by 2035 as a game-changing opportunity for African economies.
The Minister also underscored the importance of physical connectivity, calling for collaboration with ECOWAS Transport Ministers to address infrastructural gaps that hinder trade.
“Our inability to address this as a matter of urgency would undermine the private sector’s efforts in deepening our bilateral trade,” she warned.
Chairing the session, Dr. Jumoke Oduwole, Nigeria’s Minister for Industry, Trade & Investment, lauded the united front presented by her counterparts.
“The presence of my colleague Ministers demonstrates the collective commitment of Sector Ministers to advancing regional integration, fostering industrial development, and enhancing trade within the community,” she said.
