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GCCI seals economic cooperation between Gambia and Senegal

Jun 5, 2014, 12:14 PM | Article By: Osman Kargbo

Trade and economic relations between the sister countries of The Gambia and Senegal have been enhanced with a renewed Memorandum of Understanding (MOU) between the Gambia Chamber of Commerce and Industry (GCCI) and the Ziguinchor Chamber of Commerce, Industry and Agriculture (CCIAZ).

Considering the important role of trade in the economic development of their respective countries and desirous of intensifying economic relations between the two countries, the GCCI and the CCIAZ signed the renewed MoU on 25 May 2014 in Ziguinchor, Senegal, in cognizance of the one signed in 2011 between the two Chambers.

The two private sector apex bodies have agreed to facilitate trade and enhance economic relations, through their respective chambers, as well as adopt measures and mechanisms to promote trade and exports on the basis of mutual interests “to avoid any imbalances which may affect the relationships between The Gambia and Senegal”.

They also agreed to continue to maintain exchange of economic information between the two Chambers.

They will be organizing trade missions and cooperating through the organization of consultative meetings and other forms of trade events for the promotion of trade of both countries.

According to the MoU, signed by GCCI President Muhammad M. Jagana and CCIAZ President Jean Pascal Ehemba, both Chambers would encourage traders to participate in trade fairs and exhibitions, as well as encourage reciprocal visits of businessmen and professionals, particularly in cashew re-export and the implementation of Inter State Road Transit Scheme (ISRT).

Both chambers will also establish a regular consultation programme between officials of both institutions on trade, industrial issues and services, as well as exchange information in a timely and appropriate manner on protected and sensitive products that can have adverse impact on exporting businesses.

They have also agreed “to work collaboratively to eradicate cross-border harassment and other non-tariff barriers to trade in borders shared between the two countries”.

The MoU states further: “The two parties expressed the desire to establish inter-port cooperation agreement between the Port of Banjul and the Port of Ziguinchor in the areas of port operations and management.

“With a view to facilitating the implementation of this MoU, the two Chambers undertake to provide mutual institutional support, the methods of which shall be mutually agreed.

“Any disagreement arising from the implementation of this Memorandum of Understanding between the Chambers and /or economic operators will be settled amicably.

“Each Party may submit to the other an amendment request to review the terms and contents of this Memorandum of Understanding.”

The MoU, they stated, is also subject to review on a quarterly basis.