The ECOWAS Parliament has advocated harmonised customs procedures, import regulations, taxation policies, and business registration requirements to create a predictable and business-friendly environment for Micro, Small and Medium Enterprises in West Africa.
This formed part of the resolution reached following the delocalised meeting of the parliament’s committee on Industry and Private Sector, Macroeconomic Policy and Economic Research, Administration, Finance and Budget, and Public Accounts in Cotonou, Capital of the Benin Republic.
The Co-Chairman of the Committee, Alhagie Darbo, who read the resolutions of the meeting on Friday, also stressed the need for full implementation of ECOWAS trade and investment protocols to eliminate non-tariff barriers, invest in trade-supporting infrastructure, and strengthen national monitoring mechanisms to improve the business environment.
Other recommendations, according to him, include the adoption of enabling legal, regulatory, and fiscal frameworks that promote entrepreneurship, support the transition of informal enterprises into the formal economy, encourage local value addition, and enhance MSME competitiveness.
“Improve market governance and protection of traders by ensuring transparent allocation and management of market facilities, providing accessible tenancy agreements, reviewing restrictive trading practices, and addressing unlawful harassment of traders.
“Expand financial inclusion initiatives and access to affordable finance, particularly forwomen-owned and youth-led MSMEs, to improve productivity and participation in regional value chains,” he said.
Darbo said that the parliament charges the commission to strengthen the implementation of the ECOWAS MSME Development Policy (2021–2030) through enterprise support centres, business support programmes, entrepreneurship development initiatives, and digital skills enhancement.
The parliament also asked the commission to establish and strengthen export support and assistance mechanisms along major trade corridors and at strategic border points to provide guidance to exporters, facilitate compliance with trade requirements, and reduce administrative bottlenecks affecting intra-regional trade.
“Accelerate the harmonisation and implementation of ECOWAS product standards, certification, and quality assurance mechanisms to ensure consistent requirements for goods traded across Member States and enhance access to regional and continental markets.
“Strengthen the implementation of the ECOWAS Trade Liberalisation Scheme (ETLS) and related trade facilitation initiatives by simplifying procedures, improving awareness among businesses, eliminating non-tariff barriers, and enhancing transparency in cross-border trade processes,” Darbo said.
“Promote regional value chain development by encouraging industries to source semi-processed raw materials and intermediate inputs from within the Community, thereby reducing dependence on extra-regional imports and strengthening industrial integration.
“Support the development of inclusive industrial and agricultural clusters, including producer networks and value-chain platforms, to attract investment, improve productivity, facilitate access to finance, and enhance the competitiveness of regional enterprises,” he added.
The MPs charged the ECOWAS Bank for Investment and Development (EBID) to expand access to affordable and tailored financing for MSMEs through innovative financing mechanisms, including credit guarantee schemes, concessional financing windows, and risk-sharing instruments targeting women and youth-led enterprises.
They also called for support for investment in regional industrial and agricultural clusters by developing financing instruments that enable producers and actors on the value chain to expand production capacity and integrate into regional markets.
The lawmakers also see a need to strengthen oversight and advocacy for the implementation of ECOWAS trade, investment, industrialisation, and MSME development frameworks by monitoring member states’ compliance with community instruments.
The parliament also pledged to promote stronger political commitment among member states towards the implementation of ECOWAS protocols and policies aimed at improving market access, industrial development, and regional economic integration.
READ ALSO: ECOWAS Parliament Backs Sanctions For Member States Violating Regional Trade Protocols
Also, it plans to transmit the recommendations arising from the activities of the joint committee to relevant institutions and continue with the advocacy at the national level.
Speaking with newsmen on the sidelines of the meeting, Chairman of the Nigerian House of Representatives Committee on SMEs, Pascal Agbodike, said the Nigerian parliamentarians in the ECOWAS parliament would have an engagement with Nigerian lawmakers to ensure that the resolutions are met.
Agbodike also noted that the complaints raised about the country’s borders would be looked into holistically.
