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Peer studying and cross-regional dialogues create alternatives for entrepreneurs within the One African Market

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27 April 2021, Abidjan: The Financial Neighborhood of West African States (ECOWAS), in partnership with the UN Improvement Programme (UNDP), concluded a 3-part capability constructing programme for girls – led and owned companies and commerce associations on using the preferences African Continental Free Commerce Space (AfCFTA). The third and ultimate workshop, held from 20 to 22 April in Abidjan, Côte d’Ivoire, focused merchants, producers and commerce officers from French and Portuguese-speaking member states within the ECOWAS area.

The workshop collection, titled “Maximizing the AfCFTA for SMEs, Merchants and Producers”, commenced with a coaching of trainers in Freetown, Sierra Leone, adopted by a workshop in Accra, Ghana for merchants and officers from ECOWAS’ English-speaking member states. Greater than 100 members from all 15 ECOWAS member states took half within the three workshops, together with merchants and producers within the agriculture/agro-processing, textile/trend, and different worth chains, in addition to representatives of commerce promotion companies and customs.
Over the course of three days in Abidjan, members discovered concerning the provisions and implications of the AfCFTA, which is able to create an African marketplace for items and providers, carry collectively 1.Three billion folks, create a mixed GDP estimated at $Three billion, and construct on the progress already made in supporting integration inside regional financial communities comparable to ECOWAS.

Moreover, the operational instruments of the AfCFTA, together with the African Commerce Observatory, the Non-Tariff Obstacles Reporting mechanism and the Pan-African Funds and Settlements Platform have been demonstrated.

A key consequence of the capability constructing programme was to boost the capability of ladies exporters to benefit from the rising alternatives that the AfCFTA offers at each nation and regional ranges. Peer studying, e-learning and cross-regional dialogues with representatives of commerce and enterprise associations and governments in East, South and Central Africa, have been integrated into the programme to foster tangible connections for commerce. Because of this, some merchants are already exploring enterprise alternatives in different areas.

The in-depth discussions amongst members additionally examined the challenges confronted by entrepreneurs in exporting their merchandise to different nations. Restricted entry to finance, poor infrastructure and extreme charges have been listed as main obstacles to rising and working their companies. The members recognized sensible and concrete subsequent steps for governments, companies and commerce associations to be able to benefit from market alternatives throughout the AfCFTA framework.

Excessive-level panellists on the opening ceremony have been unanimous on the relevance of the capability constructing programme, which is crucial to answer a worldwide economic system that’s more and more open, dynamic and complicated.

Mr. Kaladji Fadiga, Director of Overseas Commerce, representing the Minister of Commerce and Business of Cote d’Ivoire, thanked ECOWAS and UNDP for this initiative and warranted that Côte d’Ivoire, which has already ratified the AfCFTA settlement, is doing its utmost to advertise this necessary instrument by means of sensitization and coaching of assorted actors, notably the non-public sector.
In his remarks, Mr. Tei Konzi, ECOWAS Commissioner for Commerce, Customs and Free Motion, mentioned “Small and Medium Enterprises, particularly these led by ladies, signify a major proportion of the workforce and play a vital position in commerce. The ECOWAS Fee has undertaken many efforts to enhance the overall setting for girls, together with by means of the institution of the ECOWAS Gender Improvement Heart (EGDC) in 2003, the ECOWAS Gender Coverage, the ECOWAS Gender and Commerce Motion Plan, and the extra act on equal rights between men and women – all devices developed and applied throughout the Neighborhood”.

Mr. Ousseini Diallo, Govt Secretary of the Federation of West African Employers’ Associations (FOPAO), famous the significance of the workshop for girls entrepreneurs who, “within the West African area, handle nearly all of SMEs and work within the sector of native commerce.”

For UNDP Resident Consultant, Ms. Carol Flore-Smereczniak, “The AfCFTA affords alternatives to radically rework the course of Africa’s growth and deal with the challenges confronted by ladies. This is the reason UNDP’s focus, as issues the AfCFTA, is to make the settlement a catalyst for the event of ladies and youth, two teams which have vital potential to drive the transformation of African economies.”

The AfCFTA is an initiative that goals on the liberalization of commerce in items and providers, elimination of non-tariff limitations, and protection of Funding, Competitors Coverage, Mental Property Rights and E-commerce between AU State Events. Its implementation requires that nationwide governments and enterprise homeowners are in a position to fulfill commerce necessities to adequately put together and place their nations to benefit from the AfCFTA.

The three workshops have been organized in partnership with the African Union, the European Union, the United Nations Financial Fee for Africa, the Worldwide Commerce Centre, Afrexim Financial institution and the German Improvement Cooperation (GIZ).

***

About ECOWAS
The Financial Neighborhood of West African States (ECOWAS) was established on 28 Might 1975 by the Treaty of Lagos. ECOWAS is a regional grouping of 15 members whose mandate is to advertise financial integration in all areas of exercise of its member states. Thought-about one of many pillars of the African Financial Neighborhood, ECOWAS was established to foster financial integration by making a area with out borders the place folks have entry to its ample assets inside a sustainable setting and to advertise good governance and democracy. For extra info, go to www.ecowas.int.

About UNDP
UNDP helps the implementation of the AfCFTA on the nationwide, regional and continental ranges. This contains direct help to nations, capability constructing for small and medium-sized enterprises, selling linkages between SMEs in several areas, analysis, and help for the event of trade-enabling applied sciences by means of the institution of accelerator labs. In 2020, UNDP printed The Way forward for the AfCFTA – Serving Girls and Youth, a report that provides voice to producers, merchants and policymakers on the important significance of small and medium enterprises in boosting intra-African commerce.

For media inquiries, please contact:
• Monka Sandra Oulate, ECOWAS Director of Communication soulate@ecowas.int
• Michelle Mendi Muita, Communications Specialist, UNDP Regional Programme michellemendi.muita@undp.org
• Youssouf Diarra, Communication Specialist, UNDP Cote d’Ivoire youssouf.diarra@undp.org

Observe us on Twitter: @UNDPAfrica | @ecowas_cedeao

Hashtag: #OneAfricanMarket

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