15k firms, 50k products benefiting from ECOWAS Trade Scheme – Dr. Touray

The President of the ECOWAS Commission, Dr. Omar Alieu Touray, has hailed the bloc’s Trade Liberalization Scheme as a game-changer for economic integration, revealing that over 15,000 companies are currently benefiting from duty-free access across the region.

Speaking at the launch of the ECOWAS at 50 celebrations in Accra, Dr. Touray said the scheme, which is central to ECOWAS’ push for regional integration, now covers more than 50,000 products receiving preferential treatment across member states.

“ECOWAS has an effective Trade Liberalization Scheme. Since the inception of the scheme, more than 15,000 companies have been registered and benefit from preferential treatment within ECOWAS for more than 50,000 products,” Dr. Touray stated.

He also announced the rollout of the Interconnected System for the Management of Goods in Transit (SIGMAT), a digital platform designed to simplify and speed up cross-border trade across West Africa.

“The SIGMAT system has been launched to connect national customs offices in the ECOWAS region to facilitate regional transit trade and increase the pace and ease of international trade. The system is now fully operational in seven countries,” he said.

The ECOWAS at 50 celebrations are expected to highlight the bloc’s achievements and challenges since its founding in 1975, with a special focus on regional peace, trade, and economic transformation.

The Commission is using the anniversary to deepen public engagement and reinforce its commitment to a more integrated, prosperous, and peaceful West Africa.

Source: channel1news