The potential withdrawal of Burkina Faso, Mali, and Niger Republic from the Economic Community of West African States (ECOWAS) poses a significant risk to the region’s $277.22bn trade with the global community.
The stability of the economic bloc’s trade dynamics faces jeopardy following the recent actions by the military leaders of the aforementioned countries. ECOWAS has consistently urged these military regimes to restore democratic governance, resulting in their suspension from the bloc following coups in their respective nations.
In a joint statement issued from Ouagadougou, Bamako, and Niamey, Capt. Ibrahim Traoré (Burkina Faso), Col. Assimi Goita (Mali), and Brig. Gen. Abdourahamane Tiani (Niger Republic) announced the withdrawal of their countries from the regional economic bloc.The potential departure of these nations could significantly impact the total imports and exports of the economic region, crucial elements in forming the pillars of the African Continental Free Trade Area, with the rest of the world.
In response, the ECOWAS Commission expressed its lack of awareness regarding the withdrawal of the three countries. It emphasized the continued importance of Burkina Faso, Niger, and Mali as integral members of the Community and the Authority.
Source: PUNCH