Economic pact by ECOWAS with EU will undermine local economies, says FECCIWA
The Economic Partnership Agreement (EPA) between the European Union (EU) and ECOWAS will undermine the development of African economies, according to the Fellowship of Christian Councils and Churches in West Africa (FECCIWA).
The organization is therefore rallying civil society groups to strongly resist the ECOWAS signing of the pact.
The West African economic bloc says the decision to sign the Agreement is to protect exports from the region, following recommendations by a committee set up to review the pact.
However, several interest groups are worried this will lead to the collapse of most economies in the sub-region.
FECCIWA Secretary General and CEO, Rev. Dr. Tolbert Thomas Jallah, Jr., says the agreement is not in the interest of local economic development.
“We are totally against this stance by the ECOWAS Commission without consulting the private sector, without consulting civil society and the State parties. This will undermine the economies of Africa; it will undermine agriculture and smallscale farmers. We will lose access to our own markets and this is not in the interest of development,” he stated.
The EPA allows Ghana to have 100 percent access to the European Market except for rice and sugar, while EU countries will have 75 percent access to the Ghanaian market duty free and quota free.
According to the UN Economic Commission for Africa, Ghana is expected to lose 300 million dollars in revenue every year if it signs the EPA with the EU.
“There are huge enormous opportunities in working together and fighting for justice, fighting against the economic partnership agreement that has been signed by the ECOWAS Commission,” Rev. Dr. Jallah asserted.
Story by Kofi Adu Domfeh