Study on the Economic Impact of Introducing a Common External Tariff in the ECOWAS Member States

The introduction of the CET (common external tariff) which is already applied by UEMOA (Union Economique et Monétaire Ouest Africaine) in all seven non-UEMOA ECOWAS member states

The purpose of the study was to assess and quantify the economic impact of the introduction of an ECOWAS CET in order to identify the likely effects and develop ideas on how to cushion any undesirable effects

The study discussed, inter alia, the comparative static effects on the gross domestic product and by principal sectors of activity. It analysed the impact on trade within the region and with the rest of the world, the likely consequences on employment, budgetary revenues and on the balance of payments and other macro indicators. The effects on the three main sectors of the economy, i.e. agriculture, primary products and manufactured goods were highlighted.