By: Thaimu Bai Sesay
In a landmark effort to advance regional trade and economic integration, Sierra Leone is presently hosting the 11th West African Monetary Zone (WAMZ) Trade Ministries Forum.
The high-profile conference, organized by the West African Monetary Institute (WAMI) in collaboration with Sierra Leone’s Ministry of Trade and Industry, commenced on Monday, 2nd December 2024, at the prestigious Radisson Blu Mammy Yoko Hotel in Freetown.
This year’s forum, held under the theme “Vulnerabilities of the Member States of the West African Monetary Zone: Opportunities for Boosting Inter-WAMZ Trade,” has attracted delegations from across West Africa. The event provides a platform for Trade Ministers and stakeholders to deliberate on strategies for boosting trade and fostering sustainable economic growth across the sub-region.
In his opening remarks, the WAMI representative commended the Government and people of Sierra Leone for their exceptional hospitality and organizational prowess. He praised the “excellent facilities” and expressed gratitude for the warm reception extended to all participants.
“I wish we had the opportunity to have met much earlier for reasons of COVID-19 pandemic and other issues in person. While I look forward to a fruitful interaction I will count on your support and guidance in driving the WAMZ program forward,” he expressed confidence in the government and people of Sierra Leone.
Highlighting the strong commitment to trade integration, the WAMI representative underscored the impressive turnout at the forum. “This gathering reflects the unwavering determination to advance the trade integration agenda within the WAMZ. I am encouraged and motivated by the enthusiasm to deepen cooperation among member states,” he noted.
Recalling the last forum in Conakry, Guinea, in December 2019, the representative emphasized the significant achievements made since then, including the signing of the expanded gadget trade initiatives by all WAMZ member states. He noted that commercial banks are increasingly on boarding the WAMZ platform to facilitate seamless cross-border payments and transactions, thus paving the way for enhanced trade within the ECOWAS region.
According to WAMI representative, the forum aims to advocate for good trade governance; promote trade facilitation and inter-WAMZ trade; strengthen regional trade under the ECOWAS framework; foster collaboration and networking among stakeholders.
In addition to formal speeches, stakeholders engaged in robust discussions, offering valuable insights on bolstering trade and addressing economic vulnerabilities.
As the conference continues through December 5, 2024, participants are expected to develop actionable strategies to address trade barriers, enhance economic resilience, and unlock the potential of regional trade for the benefit of all member states.
This forum marks yet another milestone in Sierra Leone’s leadership role within the West African sub-region, further cementing its commitment to fostering economic development and integration.