The ECOWAS Regional Competition Authority (ERCA) has conducted a three-day regional workshop on competition framework in Monrovia.
Highlighting the importance of the competition framework and the effective implementation of the community competition rules and ECOWAS directive on consumer protection, Madam Josephine Nkrumah, ECOWAS Resident Representative, said ERCA is assisting member states in the development of a competition policy framework and the establishment of a national body in charge of competition.
According to her, the meeting aims 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, Liberia’s Deputy Commerce and Trade Minister Wilmot Reeves said 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 said that the consultation sessions are structured to harness the wealth of knowledge and experiences parties.
“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.
For his part, Dr. Simeon Koffi, Executive Director of ERCA, said the joint advocacy and sensitization programme on competition policy is an example of the expected cooperation between ERCA and member states competition authorities.
“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,” he told the gathering.
Dr. Koffi noted the commitment of Liberia’s 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 ERCA Executive Director indicated that the need to engage all stakeholders in the ownership of the regional and national competition rules can never be over-emphasized, and that 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: (i) mechanism for collecting and sharing information and best practices, (ii) national ownership of the regional competition framework, (iii) capacities building of the stakeholders, and (iv) investigation and enforcement of competition law.
