By Florence Joshua
The Parliament of the Economic Community of West African States (ECOWAS) has commenced a five-day delocalised meeting of its Joint Committee on Industry and Private Sector, Macroeconomic Policy and Economic Research, Administration, Finance and Budget, and Public Accounts in Cotonou, Republic of Benin.
The meeting, which opened on Monday, is themed “Empowering MSMEs as Formal Drivers of ECOWAS Regional Value Chains” and is expected to produce practical recommendations for strengthening Micro, Small and Medium Enterprises (MSMEs) as catalysts for regional economic integration and sustainable development.
The opening ceremony featured addresses by the Head of the Benin Delegation to the ECOWAS Parliament, the Chairman of the Joint Committee, the Ministers of Foreign Affairs and Regional Integration, Economy and Finance, Higher Education and Scientific Research, Small and Medium-Sized Enterprises and Employment Promotion, and Interior and Public Security of the Republic of Benin. Also expected to address participants are the Speaker of the Parliament of Benin and the Speaker of the ECOWAS Parliament.
The meeting will subsequently move into technical sessions with presentations on strategies to integrate MSMEs into regional value chains. Discussions will examine the operationalisation of the West Africa Competitiveness Programme (WACOMP), the ECOWAS Business Council and the ECOWAS Small Business Coalition (ECOSHAM), as well as industrial clusters, infrastructure development and regulatory reforms to support business formalisation.
Participants will also explore financing options for MSMEs, digital innovation, regional payment systems, product standards and certification, with experts from the ECOWAS Commission, the ECOWAS Bank for Investment and Development (EBID), government institutions and the private sector leading the sessions.
A panel discussion on the second day will focus on expanding MSMEs’ access to finance, digital transformation, standards and regional markets, while lawmakers will undertake field visits to selected enterprises to assess investment opportunities, labour mobility, implementation of the ECOWAS Trade Liberalisation Scheme (ETLS), product standardisation and digital transformation.
On the fourth day, parliamentarians will engage directly with private sector operators during a town hall meeting themed “Building Practical Pathways for MSMEs and Businesses to Participate in the Formal ECOWAS Regional Value Chain.” Discussions will centre on barriers to formalisation and cross-border trade, export readiness, customs procedures, taxation, digital payments and the challenges confronting women-led, youth-led and informal businesses.
The meeting will conclude on Friday with the consideration and adoption of a report containing recommendations aimed at strengthening MSMEs and enhancing regional trade and economic competitiveness.
With economies across West Africa seeking to build resilience amid emerging global economic challenges, the meeting is expected to provide a platform for developing coordinated policies that will improve the competitiveness of MSMEs, deepen regional integration and expand opportunities for businesses across the ECOWAS sub-region.
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