President Gbeho Exhorts ECOWAS Member States Against Global Economic Crises

19 December 2011
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Economic Community of West African States (Abuja)
press release

Abuja - Nigeria — The President of the ECOWAS Commission His Excellency James Victor Gbeho has urged Countries in the region to adopt preventive measures to avoid the contagion of the global economic crises in the advanced countries of the world.

In his remarks at the opening of the 67th Ordinary Session of the ECOWAS Council of Ministers, on Monday 19th December 2011 at the Commission, the President said the disturbing developments in the global economy is epitomized by the ongoing financial crisis in the Euro Zone, West Africa's main training partner and other developed economies. Although the regional economy has maintained a robust growth of more than six percentage points despite the crises, thanks mainly to prudent macro-economic management of national economies and favourable prices of the region's materials, the president counseled West Africa to respond appropriately to the new challenges. During the two-day meeting, the President said the ministers will be updated on the status of implementation of Community Programmes and the current state of affairs regarding external partnerships, including the current state of the region's negotiations with the European union on the Economic Partnership Agreement (EPA).

They will also be briefed on efforts being made to develop complimentary trade and economic relations with the emerging economies particularly China, India and Brazil. The Commission will equally acquaint the Ministers with Community efforts at consolidating peace and security in the region, in particular, measures being undertaking to confront emergent challenges, including maritime security and terrorism. He said the current Council session is also critical for two reasons - being the last one for 2011 and which should set the agenda for stock-taking of the Commission's endeavours not only over the last year and readjust the goals for the coming year, but also to review the work of the first team of Commissioners since the transformation of the institution in 2007 from Executive Secretariat to a Commission.

In this regard, Council will be notified about the implementation of the Decisions of the Authority of Heads of State and Government and Council's recommendations aimed at realizing the goal of an "ECOWAS of Peoples," the President said, adding that Council would also be informed about efforts to usher in new Commissioners. In his opening address, the Chairman of Council and Nigeria's Foreign Minister Ambassador Olugbenga Ashiru described 2011 as very encouraging for ECOWAS' integration, especially in respect of political stability and democratic governance.

Under the Chairmanship of President Goodluck Jonathan of Nigeria, ECOWAS has seen the continuous entrenchment of democracy and democratic values in the region, the Minister said, citing successful elections in the Republic of Benin. La Cote d'Ivoire, Guinea Conakry, Niger, Nigeria, Cape Verde, Liberia. He commended the ECOWAS Commission and Member States for contributing immensely to the successful conduct of these elections and called on the Member States to continue on the democratic path to entrench transparency and good governance, a prerequisite for political stability, peace and sustained economic development. The Minister however, noted that the region still faced economic challenges, the impact of climate change, as well as food shortages, high cost of energy, dearth of investment capital and low human capacity development. "Given these realities," he said, "we need to double our commitment to the realization of the development programmes of our regional organization."

According to the Minister, the key to the realization of the developmental objectives is the full implementation of the ECOWAS flagship Protocol on Free Movement of Persons, Goods, Services and the Right of Residence and Establishment. He commended development partners for their contributions towards the realization of the region's integration objectives despite the global financial crisis, adding: "it is our responsibility therefore to ensure their continued engagement." This Session will among other issues, consider the outcome of the last Ministerial Monitoring Committee meeting on the negotiation of the EPA between West Africa and the European Union, which deferred decision on the next step in the negotiations to the Council.

The Council will also consider the 2011 Final Report of the President of the ECOWAS Commission, the Status of Tasks Assigned by the 66th Ordinary Session of Council as well as the Report of the 10th Meeting of the Administration and Finance Committee, the Financial Controller's 2011 Interim Report and the report of the 19th Meeting of the Audit Committee.

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