Omar Alieu Touray, President of the Economic Community of West African States (ECOWAS) Commission, has expressed concern over the persistently low levels of trade among West African Countries, describing it as a major challenge for the region’s economic integration.
Speaking in Accra at the launch of ECOWAS’ 50th Anniversary Celebration on Tuesday, Touray said improving intra-community trade must be a central focus as the regional bloc marks its Golden Jubilee.
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Despite being a Customs union, he noted that trade between ECOWAS Member States accounts for just 12% of total trade, far behind levels seen in other regional blocs like the European Union.
To tackle the problem, Touray stressed the need to address longstanding issues such as poor infrastructure, energy deficits, and persistent trade barriers.
However, he emphasised that boosting productivity across Member States remains the most pressing concern.
“Raising productivity is key, and that starts with our ability to attract both local and foreign investment. Our regional market, with over 400 million people, is a strong selling point but small, fragmented domestic markets don’t appeal to major investors”, he said.
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The President of ECOWAS Commission also underscored the critical need for regional peace and security, particularly in the face of rising terrorism threats that transcend borders.
“Terrorism poses a serious threat to our region and demands a united front,” Touray said, as he commended John Dramani Mahama, President of Ghana, Faure Gnassingbé, President of Togo, and ECOWAS Chair, President Bola Ahmed Tinubu of Nigeria, for their roles in reconciliation efforts and fostering collaboration with the Sahel States.
He also called for sustained efforts to deepen regional integration, ensure stability, and unlock the bloc’s economic potential over the next 50 years.
