On the sidelines of their 13th meeting, ECOWAS Trade Ministers adopted in Lomé an institutional and regulatory framework. These texts will make it possible to meet the challenge of promoting competition in the sub-region.

The trade ministers of ECOWAS member countries understood that it was time to provide the regional market with legal texts that should allow the establishment of an institutional and regulatory framework for the efficient implementation of competition rules. Thus, in line with the ambition of the Heads of State to create a common market and an integrated region, they validated the draft legal texts relating to the ECOWAS Regional Competition Policy and the Regional Authority for ECOWAS Competition (ARCC).

These texts, which will be adopted at the next summit of Heads of State and Government of the zone, will make it possible to meet the challenge of promoting competition in the sub-region. Their application, according to the ministers, will contribute to the considerable increase in trade between ECOWAS Member States, to the development of trade and to regional integration. They will also have to support the member countries in order to better face up to new economic challenges and make their businesses competitive in accordance with the principles set by free competition.