Ecowas forum opens

The 1st  Ecowas Business Forum, which aims to contribute to the on- going efforts at mobilising the private sector for regional development and competitiveness, through integration and the impending EPA, kicked-off in Accra, Ghana.

The confrence which is held at the Ghana International Confrence Hall, is to empower and encourage the participation in the activities of the private sector to enhance success and credibility, promote networking and concensus, implementing several inter-states infrastructural, trade and other sector specific programmes to promote trans-border business and engagement of private sector in regional integration process.

The business forum also aimed to adopt concrete and measurable strategies and action plans to engage the private sector more effectively in the implementation of integration programmes and projects, particularly those concerning the common market, investment climate, single currency, cross-border payments and the on-going negotiations and preparations for the endorsement of an Economic Partnership Agreement(EPA) between the West Africa and the European Union.  It further aimed to inform West African private sector and other intrested partners or investors on the status of regional integration in W/A, with particular emphasis on current opportunities for investment, international business collaborations and trade, to facilitate engagements.

The forum aimed to adopt modalities to improve business networking at the regional level, including the revitilisation of regional business associations, like the Federation of West African Chambers of Commerce, the Federation of West African Manufacturers Association, FOPAD, NEPAD business groups.

Alhaji Aliu Mahama, Vice-President of the Republic of Ghana, said integration is vital to the economic development and growth of W/A. He said effective participation of the private sector contribution can only be achieved, through partnership with the central governments and all stakeholders for speedy regional recovery.

Veep Mahama said Ecowas protocols for free movement of goods, services and the people needs to be observed and implemented by all governments in West Africa for easy movement at the cross-border trade.

He added that the enhancement to capacitise the private sector should not be neglected by any responsible government, adding that private sector needs to be involved in policy and decision-making processes so as to pave the way for formal and informal trade within the sub-region.

He then urged for effective private sector competition for regional integration, sustainable economic growth and job creation for the millions of employable youth within the  sub-region.

VP Mahama further revealed that cross- border private sector operations have largely remained incompetitive, ill-informed and excluded from major regional, continental and global opportunities. "Indeed, it is not uncommon for promising companies and individuals to loose capital or working assests in an attempt of cross border trade.

 Our weak situation in the face of increasing pressure and sophistication from international competition has more urgent needs to sensitise, harness and reinvigorate all capacities for private sector promotion in the region, to realise the benefits of more competitive operations,'" he said.

According to him, globalisation and the explosion in information and communication technologies have made it imperative to speed up integration and enterpreneurship development, enlarge regional markets and investment opportunities.

Hon Akwasi Osei-Adjei, Minister for Foreign Affairs, Regional Integration and NEPAD, said the integration of the economies of the countries of the sub-region, is the corner stone of Ghana's policy to promote economic growth and development, as well as foster rapid reduction of poverty, and thereby improve the quality of life of the population.
"The continuous prevalence of poverty and unevenness of development in our countries  have been some of the underlying problems that have spawned insecurity, rebellion and secession in the sub-region.

This policy of fostering economic integration at the sub-regional level is epitomised by Ecowas which we established to spearhead our drive towards integration. Since its establishment, it has put in place measures as well as a revised treaty and protocols that should enhance the formation of Custom Unions. Unfortunately,  as we are all aware, the implementation of these protocols has not been as smooth as we would have wished them to be,'" he concluded.

For his part, Jeffrey Cochrane, USAID official, who represented the international donor, has called on the governments to be serious and listen to the private sector.