Lagos – Mr Kalilou Traore, ECOWAS Commissioner for Industry and Private Sector Promotion, has stressed the need for a coordinated regional strategy for the development of the automotive industry.
Traore said at a workshop organised by ECOWAS on: “The Development of Automotive Industry in West Africa “, that it was regrettable that ECOWAS currently lacked such strategy.
The commissioner said there was a need for such a strategy to increase the market and volume of new and used cars imported into the region.
He noted that available data revealed that the regional development of the automotive industry in member-states was still low compared to the level of import.
Traore emphasised that the consequences of the lack of strategy was detrimental to economic growth in terms of capital flight, unemployment and underdevelopment.
He said that it was in an effort to solve the problem, the ministers of Industry of ECOWAS at a meeting held in Accra in April mandated the commission to examine possibilities of developing a regional automotive industry policy.
The commissioner said that the development of the strategy would require the political will for cooperation among member-states to ensure its success.
Mr Aminu Jalal, Director General, Nigerian Automotive Council, said the policy was among the four key areas of development identified by ECOWAS.
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He said that ECOWAS Auto Policy would attract more investors, fast track economic growth and development in West Africa. (NAN)