Excited by the recent adoption of the Common External Tariff by the Summit of Heads of State of ECOWAS, the European Union Commission is willing to double the Regional Indicative Programme for West Africa up to €1.2 billion Euros.
In a joint statement by the European Union- ECOWAS and West African Economic and Monetary Union (UEMOA), the EU stated that the decision marks major step forward in the process of integration in the sub-region.
“The European Union welcomes the adoption by the Summit of Heads of State of ECOWAS on October 25 of the Common External Tariff which makes more concrete the customs union in the region. This decision marks a major step forward in the process of West African regional integration and progress towards the conclusion of an Economic Partnership Agreement between the two parties.
“The EU is committed to continuing its support for West African regional organizations in their efforts to achieve further regional integration. The European Commission will propose its member states to double the allocation of the Regional Indicative Programme for West Africa, which could reach 1.2 billion euros in the 11th EDF.
“ECOWAS and UEMOA welcome the commitment of the European Union and its positive contribution to the integration process in West Africa. The region welcomes the proposal of the European Commission to double the amount of the Regional Indicative Programme of the 11th EDF and welcomes the commitment of the EU to support projects which will generate sustainable and inclusive growth, wealth and jobs for the benefit of 300 million West African citizens.
“The European Union, ECOWAS and UEMOA agree to resume negotiations of the Economic Partnership Agreement as soon as possible,” the statement reads.