The Trade Minister of The Gambia and the Commerce Minister of Senegal have agreed to implement the Trade and Transit Cooperation Agreement and its underlying protocols, aligning with the spirit of ECOWAS. This agreement was formalized with the signing of a joint communiqué during a two-day meeting of experts held on July 16-17, 2024.
The communiqué was signed at the second session of the Joint Trade Cooperation Committee meeting between Senegal and The Gambia on July 19, 2024, in Saly Portudal, Senegal. The event was co-chaired by Dr. Sérigne Gueye Diop, Minister of Industry and Commerce of Senegal, and Hon. Baboucarr O. Joof, Minister for Trade, Industry, Regional Integration, and Employment of The Gambia. Both ministers expressed their commitment to strengthening trade and industrial development through the promotion of investment, in line with ECOWAS provisions.
This meeting was part of the ongoing effort to elevate the cooperation between the two countries to a strategic level, reflecting the close bonds of geography, history, culture, and economy shared by Senegal and The Gambia. Minister Joof previously visited Dakar on May 10, 2024, to discuss with his Senegalese counterpart the constraints to trade development between the two countries. Their discussions covered issues such as the free movement of goods, customs procedures, value chain development, investment promotion, and industrial development.
Minister Joof thanked the ECOWAS Commission for their support, emphasizing the need for practical actions to improve the livelihoods of their people. He noted that promoting and facilitating trade is crucial for economic development and job creation for the youthful population, warning that unengaged youth could destabilize peace and stability.
Dr. Serigne Gueye Diop highlighted the dynamic nature of economic and trade relations between the two countries, noting the significant volume of trade as evidence of vibrant cooperation. He stressed the need to exploit trade potential and correct existing issues to enhance cooperation and trade levels.
The joint communiqué addressed several key issues, including:
- Facilitating market access for goods produced by both parties through the ECOWAS Trade Liberalisation Scheme (ETLS).
- Facilitating road transit and establishing a common Special Economic Zone (SEZ).
- Developing regional value chains, such as cashew nuts.
- Re-launching the Senegambia Free Movement Day.
The communiqué also recognized the challenges of developing cross-border trade and reaffirmed the commitment to fully implement ECOWAS Protocols on free movement of goods and road transit. The concerned administrations were instructed to harmonize internal regulations and recognize commercial documents for trade.
The ministers expressed their desire to enhance cooperation in investments by establishing a special common economic zone and decided to form a working group to address this issue. They also agreed to develop the cashew value chain, including cooperation with Guinea Bissau, and to establish a tripartite framework to tackle common challenges in value chain development and goods movement.
