By Grace Q. Bryant
ECOWAS Regional Competition Authority (ERCA) has conducted a three-day regional workshop on Competition Framework in Monrovia.
Speaking at the opening of the meeting, ECOWAS’ Resident Representative, Josephine Nkrumah, highlighted the importance of the competition framework and the effective implementation of the community competition rules and ECOWAS directive on consumer protection.
Amb. Nkrumah said it is within the mandate of ERCA to accompany and assist member states in the development of a competition policy framework and the establishment of national body in charge of competition.
According to her, the meeting aimed to bring all of the players of the market around the initiative and to have an inclusive framework that will lead to the achievement of the objectives of promoting healthy and fair competition in Liberia and within the West African market.
Also speaking, Deputy Commerce Minister for Commerce and Trade, Wilmot Reeves, said, “Today, we are not just discussing the drafting of laws, but envisioning the economic future of our nation.
The Minister stated that the workshop represents a crucial step toward aligning Liberia with internationally recognized standards and practices.
Minister Reeves indicated that the draft Project Cooperation and Funding Agreement, which outlines a three-year collaborative effort between ECOWAS and the Government of Liberia, is a blueprint for the commitment to its cause.
He explained that the agreement will catalyze the development of legal frameworks that are essential for promoting competition and safeguarding consumer rights.
The Deputy Commerce Minister for Commerce and Trade stated that the consultation sessions are structured to harness the wealth of knowledge and experiences each party brings to the table.
“As we embark on this journey to establish Liberia’s national competition authority and enact comprehensive competition and consumer protection laws, we recognize the pivotal role these frameworks play in shaping vibrant markets,” he noted.
The Executive Director, ECOWAS Regional Competition Authority, Simeon Koffi, said the joint advocacy and sensitization program on Competition policy is an example of the expected cooperation between ERCA and member states’ competition authorities.
He narrated, “I would like to express my appreciation to the Ministry of Trade and Industry for its support and contribution to the work for the consolidation of the regional competition framework, through its representatives to the Consultative Competition Committee of ERCA, Saye Domason Gbeakeh and Alvin S. Geah, Liberia being the Vice president of the said Committee.”
Koffi expressed his appreciation for the commitment of Liberia stakeholders in the conduct of the ongoing regional market study on digital markets, which is among the five countries that submitted the draft report.
The Executive Director for ECOWAS Regional Competition Authority stated that the need to engage all stakeholders in the ownership of the regional and national competition rules can never be overemphasized, adding that it is why he is delighted with the presence of all the expected participants.
He said the collaboration between ERCA and national stakeholders aims to strengthen mechanisms for collecting and sharing information and best practices, national ownership of the regional competition framework, capacity building of the stakeholders, and investigation and enforcement of competition law.
