LCCI Establishes ECOWAS/AFCFTA Regional Integration Trade Committee

The Lagos Chamber of Commerce and Industry(LCCI) inaugurated the ECOWAS/ AfCFTA Regional Integration, Trade & Investment Committee (EARI-TIC) and named its initial members.

At the inauguration ceremony, the president of LCCI, Dr. Michael Olawale-Cole underlined the priorities of peace, political stability, and good governance as some of the foremost promoters of regional integration, trade, and investment.

He stated that, “the LCCI, by establishing this strategic committee is demonstrating its commitment to promoting regional integration, trade and investment as one of its strategic responses to the peculiar challenges in the sub-region as well as on the continent.

To him, “promoting regional investment and trade is a complex and very important task for private businesspeople and for the government for the benefits of the African continent.

“This is helped when all the critical stakeholders, public and private are seen and experienced to be above board, supported by relevant institutions and fault-free processes. I am therefore grateful to each member of the Committee for their willingness to take on this work.”

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Olawale-Cole said: “the Committee will work collaboratively with the other local and international stakeholders to promote regional integration. The EARI-TIC will help the Chamber receive up-to-date information and analyze regional investment and trade-related issues from a broad array of stakeholders.

“The EARI-TIC’s members include stakeholders from a wide range of backgrounds, including trade specialists, financial services, manufacturing, solid minerals, and professional services. The Committee will strive to support the government’s efforts to promote investment and trade in the subregion and in the continent.”

He added that “the Terms of Reference for EARI-TIC include initiating and actively participating in discussions related to land border control, security, infrastructure, non-tariff barriers to intra-ECOWAS and intra-African trade.

“The committee is also expected to contribute to strategic initiatives for developing and maintaining beneficial relationships between the LCCI and the ECOWAS Commission and other regional and international institutions, and actively participate in the discussion of private sector involvement in championing the AFCFTA-guided trade initiative.”

The chamber stated that it will continue to advocate for peace and safety across ECOWAS through good governance, accountability, and respect for the rule of law, saying the organized private sector is desirous of an enabling business environment that is devoid of disunity, war, and chaos.