End of the Capacity-building workshop for ECOWAS private sector leaders as part of the implementation of the AfCFTA
03 Aug, 2024The ECOWAS Commission, in collaboration with the Federation of West African Chambers of Commerce and Industry (FEWACCI) and the FTAA Secretariat, organised a three-day capacity-building workshop for private sector leaders on the implementation of the African Continental Free Trade Area (AfCFTA), from 29 to 31 July 2024 in Lagos, Nigeria.
The workshop covered several key topics, including a general presentation on the AfCFTA, the Protocol on Trade in Goods and the Protocols on Trade in Services, Customs Administration, Investment, Digital Trade, Competition Policy and the Protocol on Women and Youth in Trade. Participants also learned about the operational tools of the AfCFTA, its regional strategy and implementation initiatives, and the role of the private sector in achieving its objectives.
The businessmen and women who gathered in Lagos were given the information, knowledge and tools they need to take advantage of the opportunities offered by the African Continental Free Trade Area (AfCFTA) in order to contribute to the development of businesses in the ECOWAS area and promotion of regional economic integration in Africa.
At the end of their interactive and practical working sessions, the participants made a number of recommendations and called for the ratification of the AfCFTA by ECOWAS Member States that have not yet done so, and for the promotion and better financing of women and young people to increase their participation in the AfCFTA.
An appeal was also made to the ECOWAS Commission to make the texts of the AfCFTA more widely known in the region, and to re-establish the ECOWAS Trade Fair. Companies and businessmen were asked to use the Pan-African Payment and Settlement System (PAPSS) to simplify payment processes.
The meeting was attended by Directors General, Secretaries General and heads of private sector organisations from the ECOWAS region, representatives of the ECOWAS Commission, the Federation of West African Chambers of Commerce and Industry (FEWACCI), the AfCFTA Secretariat and the African Export and Import Bank (Afreximbank).
