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Espace UEMOA: Non-compliance with texts weakens intra-community trade

09/08/2021
Categories: Sectors

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The Uemoa states trade more with the outside than with each other. With less than 15% of regional trade, intra-Community trade is seriously weakened by non-compliance with the texts governing the

market.

Despite the existence of favourable regulations, intra-Community exports represent 2123.1 billion FCFA against 12 783 billion FCFA of extra-Community exports, i.e. 14.24% of all trade in 2019, according to figures from the European Commission. With 120 million inhabitants, the sub-regional institution theoretically offers an important market for trade that should promote more investments, diversified offers and more competition with lower prices for the well-being of populations. Additional Act No. 04/96 of 10 May 1996 strengthened the liberalization of trade within the Union, the rules of origin and the customs regime applicable to raw products, traditional handicrafts, and approved and unapproved originating industrial products

.

However, the main objective of the Constitutive Treaty of the West African Economic and Monetary Union (UEMOA) is the creation of a common market between the Member States based on the free movement of persons, goods, services, capital and the right of establishment of persons. To correct the situation, the Union will not only have to ensure compliance with the texts but also, it will have to focus on the development of regional value chains, the development of regional strategies for marketing products (cotton, cashew, mango, etc.) and the establishment of the free practice regime

.
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