Omar Touray, president of the Economic Community of West African States (ECOWAS) Commission, has urged member states to leverage the potential of the region’s private sector for sub-regional economic integration and development.
Touray spoke in Abuja on Thursday at the 93rd ordinary session of the ECOWAS council of ministers.
The ECOWAS president said local private sector actors needed the support of the regional bloc and individual member states, noting that they have an important role in achieving economic integration and development.
“The role of our private sector in providing the necessary resources for our institutions, removing non-tariff barriers, and implementing regionally agreed policies and commitments is vital to our success,” Touray said.
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He said the goal is to mobilise, develop, and retain regional capital within the subregion for good.
“Our local private sector actors also have an important role, and they need the support of both the regional institutions and governments to exploit the vast potentials in our community,” he added.
“We must give our local private sector actors the right of first refusal in any investment opportunity in our community.
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“We should harness the resources of our businessmen and women to succeed.”
Touray said over the years, ECOWAS has consistently deepened regional integration by deploying multifaceted strategies.
He said some of the efforts include regional energy development, regional air transport development, regional regulation on roaming on public mobile communications networks, among others.
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