In a bid to adopt common positions, consistent with regional and national Competition frameworks in West Africa, the Economic Community of West African States, (ECOWAS) has organised its first Virtual Regional Meeting on the African Continental Free Trade Area (AfCFTA).
In a statement released by the Commission, ECOWAS disclosed that a draft Protocol on Competition Policy was proposed by the AfCFTA Secretariat, as part of the second phase of the AfCFTA negotiations.
Stakeholders considered amendments to the draft Protocol proposed by a working group, which included Officers from ERCA and four competition Experts of ECOWAS Region, who are also members of the Consultative Competition Committee of ERCA.
Following deliberations, the meeting adopted the amendments which will form the basis of the regional position on key provisions of the draft protocol that will be presented at the upcoming 5th meeting of the Committee on the Competition Policy, scheduled to take place from 30th May to 2nd June 2022 in Accra, Ghana.
The Protocol on the Competition Policy, which is an integral part of the Agreement of the AfCFTA, will contribute in the attainment of its objectives, leading to industrial and agricultural development and enhanced competitiveness.
The meeting was chaired by Michael Opoku Akurang of the Trade & Industry Ministry, Republic of Ghana.
Stakeholders recalled that the 4th meeting of the Committee on the Competition Policy, which held in April 2022, addressed the fact that the divergent positions of the parties require prior coordination of positions within homogeneous entities such as the Regional Economic Communities (RECs).