The European Union is putting €50 million into a new program to help West African businesses compete better in global markets, according to United Nations Industrial Development Organization (UNIDO). The Africa Trade Competitiveness and Market Access program launched this week as part of the Economic Community of West African States (ECOWAS)‘s 50th anniversary celebrations. The money will go toward helping small and medium businesses across the region meet international quality standards and find new markets for their products.
West African countries have wanted to trade more with each other and Europe for years now. The problem is that many local businesses can’t compete—their products don’t meet the standards that international buyers expect, and they don’t know how to reach bigger markets. This new program is supposed to help by fixing quality control and teaching companies what global buyers actually want.
UNIDO and the International Trade Centre (ITC) will run the program together, focusing on helping businesses in promising sectors get their products ready for export.
“We are particularly proud with the launch of ATCMA as the region expects this initiative to increase trade between Africa and the EU,” said Lassane Kabore, ECOWAS’s industry director.
The program will pay special attention to businesses run by women and young people, who often face extra barriers when trying to expand. EU Ambassador to Nigeria Gautier Mignot said the goal is to “empower small and medium-sized enterprises, opening doors for youth, and creating opportunities for women entrepreneurs.”
The program ties into the African Continental Free Trade Area, which is supposed to make it easier for African countries to trade with each other. Officials hope better quality standards will help West African businesses take advantage of these new opportunities.
