The Economic Community of West African States (ECOWAS) has harped on the need for a harmonised competition framework in the region towards the African Continental Free Trade Area (AfCFTA).
The call was made at an advocacy and sensitisation workshop for Ghana competition stakeholders on the ECOWAS regional competition framework organised by the ECOWAS Regional Competition Authority (ERCA).
ERCA is the regulator of regional competition within the ECOWAS region. Its mandate is to promote competition in West Africa by regulating restrictive business practices, cartels, mergers and acquisitions that undermine consumer welfare, market efficiency and economic growth in the region.
The objectives of the workshop, according to an ECOWAS statement, were to sensitise Ghana competition stakeholders on the existence of the regional competition framework and ERCA, ensure their awareness and ownership of the competition framework as well as the institutional relationship between regional and national bodies in the area of competition.
The workshop, it was gathered, also enlightened the participants on the modalities for ERCA’s future interventions.
AfCFTA, which commenced trading on 01 January, 2021, is the world’s largest free-trade area, creating a market of 1.2 billion people and the eighth economic bloc in the world.
The Executive Director of ERCA, Dr Simeon Koffi, who spoke at the workshop, presented two supplementary Acts on the community competition rules and the establishment of ERCA and gave an overview on projects and studies that are ongoing in 2021 or yet to be launched in 2022.
‘After recalling the objectives of the workshop, Dr Koffi emphasised on the need for harmonised competition framework in West Africa towards AfCFTA through a continuous dialogue for which the ECOWAS commission is committed’, the statement read.
The workshop gathered experts from Ghana’s Ministry of Trade and Industry, Ministry of Lands, civil society organisations, Ghana Export Promotion Agency, National Planning Commission, Ghana National Accreditation Service, Chamber of Telecom, State Interests, and Governance Authority, Borderless Alliance.
Source: ECOWAS
Photo source: Jbdodane
