Currency issues least of ECOWAS integration process, says LCCI

Thu Jan 23rd, 2020 - Lagos

Citing the need to address key fundamental issues and non-tariff barriers affecting regional trade among Economic Community of West African States (ECOWAS) member countries, the Lagos Chamber of Commerce and Industry (LCCI), has described the ECO currency concerns as one of the least issues affecting the region.

According to the Chamber, the bigger issues are around the non-tariff barriers to trade, adding that these include complex and corrupt Customs procedures, multiplicity of agencies and checkpoints along the borders, import bans, forex regulations, quality requirements, excessive documentation and many more.

To this end, the Chamber urged member-countries to address the bigger constraints to economic integration first before other matters.Addressing journalists in Lagos, yesterday, LCCI President, Mrs Toki Mabogunje, noted that although the manner of adoption of the ECO by the francophone countries raises concern around the mutual confidence levels between the Anglophone and Francophone countries in the region, other key issues need to be addressed.




source: Guardian