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The Economic
Community of West African States (ECOWAS) is urging the European Union
(EU) to show real monetary commitment to a proposed development fund
for the subregion.

The call, announced
in a press release, follows an ECOWAS Ministerial Monitoring Committee
held over the weekend in Cotonou, Benin. Negotiations are expected to
commence on Wednesday to lay the foundation for a new trade regime,
which aims to create a free trade area of the two regions.

Pending issues

Some issues that
remain to be resolved related to the Economic Partnership Agreement
Development Programme (EPADP) fund are: what each partner will give to
the fund, and how it could be accessed.

The experts-level
MMC meeting showed how the Partnership Agreement could be integral to
West Africa’s integration process. The fund could also boost
competitiveness, leading to an economic partnership pact that would
help the 16-member ECOWAS take advantage of potentially greater access
to European markets.

West Africa wants
EU negotiators to make clear the “dedicated source and accessibility”
of the fund, according to the press statement.

Monetary support

Heads of state from
across the ECOWAS region say they would like notable EU monetary
support for the proposed fund before it is approved by the West African
bloc.

For their part, the
ECOWAS states are expected to finish listing the priorities in their
operational plans and projects, in keeping with a framework adopted two
weeks ago, which was to be submitted to the ECOWAS Commission latest
end of this month.

Also, the ECOWAS Commission was expected to carry on with planned fiscal reforms, among other activities.

ECOWAS asked its
negotiators to get fast replies from EU representatives regarding
financing of the proposed fund, as well as guidance on how it could be
tapped by the ECOWAS member states.

Some other
unresolved aspects of the negotiations are a seven-year old 0.5 per
cent Community Levy charged by West Africa for imports from outside the
region. ECOWAS uses the funds to pay various activities, but the
Europeans consider it a trade barrier and want it lifted.

Still, movement has been perceptible in certain core areas, such as
issues related to market access and a comprehensive sectoral economic
analysis.