The Economic Community of West African States Commission (ECOWAS) has said that West Africa risks losing projects valued at $500 million if sanctions on Mali, Niger and Burkina Faso were not suspended.
This was contained in a statement by the regional bloc following the suspension of the sanctions on the three West African countries as a result of the military takeover of their government.
According to ECOWAS, dialogue and negotiations should be the most viable options for addressing the ongoing tensions in the region.
- “The withdrawal of the three-member states could result in the halt or the suspension of all ECOWAS projects and programmes worth more than $500 million.
- “The authority recognises that the withdrawal will automatically affect the immigration status of the citizens, as they may be required to obtain visas to travel around the region.
- ”Citizens may no longer be able to reside or set up businesses under ECOWAS arrangement and may be subject to diverse national laws.
- “The three countries will cease to use ECOWAS passports across biometric national identity cards, and the brown card vehicle insurance.
- ”The authority recognises that the three-member states represent 17.4% of the region’s 425 million population.
- “Even though they represent 10% of the region’s GDP, their departure will constitute a reduction of the market size of ECOWAS,” the communiqué reads in part.
Recommended reading: Why Nigeria can’t be a hub for aviation sector in West Africa – Expert
Mali, Niger, Burkina Faso Withdrawal Poses Security Threat
The authority of ECOWAS also highlighted that the withdrawal of the junta-led West African countries could pose a huge security threat in the region, leading to an influx in terrorist activities.
ECOWAS emphasized that violent extremism and organised crime could take over the region if the countries decide to leave the regional bloc.
- “The authority recalls that within the framework of regional cooperation against terrorism, violent extremism and organised crime, the three countries benefited from about 100 million US dollars mobilised by UMR within the context of the ECOWAS plan of action against terrorism.
- ”Moreover, some funds allocation, about 7.5 million U.S. dollars is being made towards supporting the three countries in acquiring the equipment to help their fight against terrorism.
- ”The withdrawal will affect security cooperation regarding sharing intelligence and participation in regional counterterrorism initiatives.
- ”Such as the Accra initiative, and the Multinational Joint Task Force,’‘ Touray added.
What you should know
Earlier, the Economic Community of West African States (ECOWAS) resolved to lift some sanctions on Niger Republic, Mali and Guinea.
- The resolution was taken at the extraordinary summit on the peace, political, and security situation in the ECOWAS sub-region in Abuja on Saturday.
- While the regional bloc said the political and targeted sanctions on the Niger Republic remain, it lifted some financial and economic sanctions on Guinea and other sanctions on Mali.
- Following the military coup in Niger Republic on July 26, 2023, which toppled President Mohamed Bazoum, ECOWAS imposed several sanctions on the country.
- These sanctions include the closure of land and air borders between all ECOWAS countries and Niger Republic.
- No flight zone for all commercial flights to and from the Niger Republic.
- Suspension of all commercial and financial transactions between ECOWAS member states and Niger Republic and freezing of all service transactions including utility services.
