Closing of the ECOWAS Parliament’s relocated meeting in Cotonou: lawmakers adopt a roadmap to accelerate the industrialization and development of MSMEs.

After five days of discussions, expert hearings, and field visits, the decentralized meeting of the joint committee of the Economic Community of West African States (ECOWAS) concluded on Friday, July 31, in Cotonou, with the adoption of a draft report accompanied by recommendations aimed at supporting the development of micro, small, and medium-sized enterprises (MSMEs). Gathered around the challenge of integrating MSMEs into regional value chains, the parliamentarians identified several priority levers deemed essential to strengthen the competitiveness of the West African economic fabric and stimulate more inclusive growth.

Focus on more inclusive industrialization

At the heart of the recommendations is the need to accelerate the region’s industrialization process by involving more producers, cooperatives, and marketing platforms. The deputies believe that such an approach would promote added value creation, attract more private investments, and contribute to improving the productivity of local businesses.

The objective is also to strengthen the competitiveness of regional value chains to enable MSMEs to better take advantage of the opportunities offered by the community market.

Facilitating access to financing

The parliamentarians also emphasized the urgency of developing financing mechanisms better suited to the needs of businesses. They recommend establishing financial instruments capable of supporting producers and economic actors in increasing their production capacities and integrating into regional markets.

According to them, smoother access to financing remains an essential condition for stimulating investments and promoting the growth of the private sector within the community space.

A Parliament called to play a driving role

The adopted recommendations give significant importance to the ECOWAS Parliament, which is called to strengthen its action in oversight and advocacy. The deputies want the institution to ensure the effective implementation of community policies related to investment, industrialization, and the development of MSMEs.

They also intend to closely monitor member states’ compliance with commitments made under the protocols and other legal instruments of ECOWAS.

Maintaining pressure on member states

Beyond the adoption of recommendations, parliamentarians stressed the need to continue the dialogue with national governments. They want the conclusions of the work to be transmitted to the relevant institutions to facilitate the effective application of community policies aimed at improving access to markets, accelerating industrialization, and deepening regional economic integration.

In accordance with the provisions of Article 26 of the Internal Regulations of the ECOWAS Parliament, the draft report was adopted at the end of the proceedings. This document will now serve as a reference for the institution’s future initiatives regarding industrial development, private sector promotion, and strengthening economic integration in West Africa.