ECOWAS Mining and Petroleum Forum launched

Mr Emmanuel Armah Kofi Buah NEW

Accra, Sept. 26, GNA - The Economic Community of West African States (ECOWAS) Commission and Ghana, have launched the first ECOWAS Mining and Petroleum Forum and Exhibition, to promote the mining and oil potentials of member states.

Dubbed: 'ECOMOF 2015' the event supported by AME Trade Limited, United Kingdom, a consulting firm, is scheduled for October 6- October 8, 2015 and would be held on the theme:' Valorising West Africa's Mineral and Petroleum Resources through Regional Cooperation'.

The forum to be hosted by Ghana, would among other things, ensure the socio-economic integration of the West African Region, harmonise legal, regulatory and taxation instruments and develop human resource and create a network of experts.

Mr Emmanuel Armah Kofi Buah, Minister of Energy and Petroleum, who was speaking at the launch in Accra on Friday said the event is an important milestone to provide a platform for effective linkages in development of mineral and hydrocarbon resources.

He said the West African sub-region is blessed with a wide range of natural resources, which should have propelled the region to economic growth and prosperity than the case now.

He said unfortunately, however, having exploited considerable volumes of these resources especially, the hard commodities, and to some extent, hydrocarbon in the region, there is very little to show as far as the improvement in the living condition of the people are concerned.

The Minister said the issues of diversification has been discussed for years and not much has been achieved.

'Harnessing natural resources for sustained development is both technically and politically difficult and success depends upon getting a chain of decisions right,' he added.

Mr Buah noted that ECOWAS needs a collective effort rather than going solo for sustainable development and management of these resources to meet the needs of current and future generations.

He expressed the hope that the forum would provide the needed platform to address issues on value addition to mining and oil products.

Dr Bangoura Morlaye, Commissioner, Energy and Mines, ECOWAS said the organisers intend to hold the event every year on a rotational basis among member states.

He said the theme for the forum would assist the Commission set the tone for deliberation on the question of how well to support the geo-extractive industry.   

He re-affirmed the Commission's commitment to see the realisation of the geo-extractive industry in the community, assuming its full integrated role as a development agent.

Nii Osah Mills, Minister of Lands and Natural Resources, said the theme ties in very well with the objective of government to ensure that natural resources are not only exploited but that additional value is created resulting in the sustainable development of the country.

ECOMOF is an initiative of the ECOWAS Commission, adopted on October 8, 2010 at a meeting of ECOWAS Ministries responsible for Mineral Resources Development in Monrovia, Liberia.

GNA