The World Bank Group, the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (UEMOA) on Tuesday, February 10-11 began a two-day Tripartite Meeting in Accra to deliberate on issues pertinent to the socio-economic development of the ECOWAS Sub-region.
UEMOA is an economic, integrating and cooperation organization that was created on January 14, 1994. The organization has eight member states, which share a common monetary currency several decades ago, decided to join forces.
The union has five majors’ goals such as:
Reinforce the economic and financials competitiveness of the member states, assure the convergence of the performances and economic policies and create a common market between member states by having a common external tariff (CET), a common trade policy, and free movement of persons, goods, capitals, and the right of establishment in member states.
The meeting which ended yesterday reviews the status of implementation of the Abidjan Action Plan and was agreed during their first meeting in Abidjan in July 2013, and will focus on a number of key thematic areas such as Ebola, Agriculture, Regional Infrastructure and Cross Border Management.
According to statement issue by its World Bank office in Monrovia, the World Bank Africa Region's Director responsible for Regional Integration, Mr Colin Bruce, said given the debilitating effect of Ebola on the sub-region, the bodies will spend ample time deliberating on how to mitigate impacts, particularly on the three countries most affected.
“We would also look at how to adjust our priorities to reflect changes in the sub-region and in the World more broadly,” he added.
Mr. Bruce noted that the bodies have made considerable progress in implementing their ambitious joint plan in key priority areas of agriculture, education, trade and trade facilitation, transport, regional investment, climate and the Sahel.
He said he hopes to see fruitful discussions that will identify few transformational priorities, work program, timeliness and division of responsibilities during the next phase of the partnership.
Mr. Kabre Desire Ouedraogo, President of the ECOWAS Commission said they look forward to deepening the collaboration between the World Bank Group, the ECOWAS and UEMOA Commissions in addressing issues of common developmental interest to the sub-region.