The current political situations within the Economic Community of West African States has overshadowed the efforts of ECOWAS at addressing the needs of citizens of the community, President of the ECOWAS Commission, Dr. Alliou Touray said on Wednesday.
Touray said trade volume amongst member states is in the region of 12%.
Touray equally lamented trade volume within the continent which he said is under 20%.
He spoke on Wednesday in Abuja at a maiden briefing on the activities of the sub-regional body.
He said, “There is so much more that ECOWAS is engaged in, as ECOWAS is present in
virtually all facets of human development in the region, planning and providing
for the contemporary needs of the community.
“Unfortunately, these laudable strides in the region’s relentless march towards
an economic union have been overshadowed by contemporary political
developments.”.
On trade amongst member states which is abysmally low, Touray said, “At the moment, our intra community trade stands around 12%.
“On the whole in Africa, intra continental trade is under 20% which is extremely low.”
Comparing trade amongst African countries, President of ECOWAS Commission said “If you look at developed countries, countries that are sufficiently integrated or regions that are sufficiently reintegrated, intra continental trade alone is around 60 to 70%.
” So we have a long way to go. Very long way to go and this is why it is important that we open our markets for our own produce, our own manufactured items.”
He also stressed the need to have sufficient local content on production within the sub-region.
