Experts seek harmonised laws for investments in ECOWAS

EXPERTS from member nations of the Economic Community of West African States (ECOWAS) have recommended proper harmonisation of national laws, as well as gradual adoption of relevant instruments as a precursor to the development of a common regional investment code and investment policy.The experts' prescription came at the end of their meeting in Praia, Cape Verde.The experts' submission on investment attraction is coming as the ECOWAS Council of Ministers met in Abidjan, at the weekend, on the allocation of nine statutory positions in the ECOWAS Commission and other Community institutions.At Praia, the various national investment laws and policies were looked at as directed by the leaders in their last summit in Abuja. An agreement was subsequently reached on a template to provide standard background and understanding of country policies for the next line of action.A comparative analysis of country reports in this vein had shown that similarities in member states' investment policies exceeded 70 per cent, while differences in the details and structures of the respective policies in relation to the 10 investment policy frameworks already identified.The extra ordinary meeting in Abidjan, according to the commission in Abuja, would consider proposals by the President of the ECOWAS Commission to fill the vacant positions, including those of the institution's Financial Controller, as well as Director-General and Deputy Director-General of the West African Health Organisation (WAHO), based in Bobo Dioulasso, Burkina Faso.
Click here to read full news..