AfricaNews

Africa: ECOWAS Launches e-Certificate of Origin to Boost Trade and Combat Fraud

0
ECOWAS Launches e-Certificate of Origin to Boost Trade and Combat Fraud
Share this article

The Economic Community of West African States (ECOWAS) has officially launched its electronic certificate of origin (e-CO), a groundbreaking digital tool aimed at enhancing trade efficiency and curbing fraudulent practices across the region.

A Milestone for Regional Trade

Speaking at the unveiling ceremony in Lagos, Mrs. Massandje Toure-Litse, ECOWAS Commissioner for Economic Affairs and Agriculture, celebrated the initiative as a pivotal development for seamless cross-border trade. Representing ECOWAS President Dr. Omar Alieu Touray, she highlighted the e-CO’s potential to address key challenges linked to trade liberalization in West Africa.

“This transformative initiative will have a significant and positive impact on the movement of goods across ECOWAS borders,” Toure-Litse remarked, through her representative, Mr. Salifou Tiemtore, Director of Customs Union and Taxation.

Challenges Facing Trade Liberalization

Toure-Litse noted that while global free trade agreements unlock markets and economic benefits, they pose distinct challenges for developing and least-developed nations in West Africa. She pointed out the region’s dependence on border taxes for revenue and the economic strain caused by non-compliance with origin requirements and erosion of customs revenues.

“Manual processes for certificates of origin have historically been prone to inefficiencies and fraud, undermining trust in the system,” she stated. Fraudulent use of paper certificates has often denied countries the full benefits of trade liberalization.

A Decade-Long Digital Transformation

The e-CO system is the culmination of over a decade of efforts to integrate information and communication technology (ICT) into border procedures in the ECOWAS region. Since 2019, ECOWAS has been developing a regional e-CO Hub to fully digitize the certificate of origin system, marking a shift toward transparency and efficiency in trade.

Key Features of the e-Certificate of Origin

The new e-CO platform offers several innovations:

  • Automation of Processes: Eliminates manual signatures, ensuring certificates are electronically signed and digitally approved by Customs authorities.
  • Fraud Reduction: Secure communication channels and a dedicated system minimize opportunities for fraud.
  • Improved Efficiency: Streamlines the cross-border movement of goods, reducing time spent verifying certificates and boosting confidence in the origin proof process.
  • Regional Integration: Connects Customs administrations of exporting and importing countries, fostering collaboration under the motto, “Borders divide, Customs connects.”

Benefits for ECOWAS Trade

The digitization of certificates of origin under the ECOWAS Trade Liberalization Scheme (ETLS) is expected to enhance intra-regional trade, reduce revenue losses, and improve economic integration.

“This initiative not only strengthens trade facilitation but also reinforces our commitment to fostering a unified and prosperous region,” said Toure-Litse.

Toure-Litse urged all stakeholders to embrace the e-CO initiative, describing it as a precedent for digital trade facilitation across Africa.

“The launch of the e-certificate of origin is a vital step toward achieving the full potential of trade liberalization in our region, setting a benchmark for economic transformation,” she concluded.

The ECOWAS e-CO underscores the region’s dedication to leveraging technology to overcome trade barriers and foster sustainable economic growth.

Share this article

Nigeria: CBN Extends BDC Recapitalisation Deadline to June 2025

Previous article

Global: FSB Adjusts Capital Requirements for Bank of America and Crédit Agricole in 2024 Update

Next article

You may also like

Comments

Comments are closed.

More in Africa