The Economic Community of West African States (ECOWAS) and other groups have launched initiatives worth more than $140 million to strengthen trade competitiveness and market access, and improve peace and security, institutional capacity, and trade in services throughout West Africa.
The initiatives support ECOWAS in addressing security and governance challenges by focusing on four elements: improving early conflict detection, security sector reform, electoral support and inclusive peace processes.
ECOWAS launched the initiatives, co-funded by the European Union, Germany and Spain, at an event at its headquarters in Abuja, Nigeria. It brought together more than 80 senior officials and partners from across West Africa and Europe, The Sierra Leone Telegraph reported. Other international organizations also are involved with the initiative.
“The ECOWAS Commission plays a pivotal role in ensuring regional cooperation, promoting integration in West Africa and maintaining peace and security,” said María Higón Velasco of the Spanish embassy in Nigeria. “The projects presented today support the organization’s ability to conduct transparent dialogue and coordination with member states, development partners and civil society organizations in the region, thereby facilitating the achievement of the ECOWAS Vision 2050 goals.”
Vision 2050 established the ECOWAS Peace Fund to support initiatives for conflict prevention, management, resolution, peacekeeping, peacebuilding and recovery “while developing the capacities of relevant stakeholders to promote durable peace and human security across the West Africa region.”
One part, the Africa Trade Competitiveness and Market Access Programme, will increase sustainable Africa-EU and intra-African trade by improving market access and trade competitiveness of West African businesses in “selected high-potential value chains,” the Telegraph reported.
“Strengthening intra-African trade within the African Continental Free Trade Area and strengthening Africa-EU trade is more important than ever,” said Gerd Müller of the United Nations Industrial Development Organization, as reported by the U.N. “It is key to create jobs, improve livelihoods, and to develop fair and sustainable regional and international supply chains.”
Pamela Coke-Hamilton of the International Trade Centre said one goal is to improve the competitiveness of West African small and medium-sized enterprises.
“These latest investments in the region, including through the Africa Trade Competitiveness and Market Access Programme, signals our shared commitment to a more resilient, prosperous West Africa, in line with priorities set by West African countries,” she said. “Together, we’ll work to unlock market access and boost the export competitiveness of small businesses in key sectors, supporting sustainable, trade-led development.”