The event, which took place on Thursday 21st November at the Sir Dawda Kairaba Jawara International Centre, deliberated on the theme: “Empowering Local Economy: Strategy for Growth and Collaboration in The Gambia.
Organised by the GCCI, with the support of the European Union Delegation in The Gambia, the forum brought together participants from across the public and private sectors to discuss pertinent issues affecting the Gambian economy and see how to address those challenges.
In his address at the forum, the deputy permanent secretary of the Ministry of Trade, Abdoulie Jammeh, said: “We have come together to discuss policy and strategy that will help to realize the potentials of the Gambia private sector which is the engine of growth. The private sector is one of the significant stakeholders in the national development plan, serving as a fundamental element for sustainable development across all sectors of the economy. It also fosters entrepreneurship, investment and innovation. The private sector therefore plays a pivotal role as a driver of economic growth, job creation and industrial transformation and all these fits well with the theme of this forum.”
Mr Jammeh said speaking of empowering the local economy is talking about empowering “our citizens, our families, small and medium-sized enterprises, young entrepreneurs and every individual with the courage to trade, create and grow”.
For years, the Gambian businesses large and small have been working tirelessly often in challenging conditions to sustain their growth but small businesses cannot survive in isolation, he said, adding: “They need a nurturing ecosystem, a system that connects them to finance, connects them to the market and also a supportive regulatory environment.”
According to him, the Ministry and National Business Council is working tirelessly to improve the business environment, towards simplifying access to finance, making it easy for businesses to secure finance and also making it easier for businesses to secure resources they need to grow.
“We are conscious of the urgent need to reform and improve our policies, regulations and investments to create a conducive environment for growth, prosperity and sustainability of the private sector,” DPS Jammeh stated.
He also hinted on regional and international trade, saying: “The Trade ministry knows that we cannot empower our local economy without ensuring that the Gambia is fully integrated into regional and continental markets.”
He elaborated: “As a small nation, we know the power of collaboration. Our potential for growth is exponential when we look beyond our borders and work together as a region. By strengthening ties with our neighbours, we can create a market of shared prosperity where businesses in the Gambia can expand. Trade can reach new heights through ECOWAS protocol and the continental areas.
“The Gambia is therefore committed to the AFCFTA A and the ministry has intensified its outreach and sensitization efforts to ensure that we are not only aware of the opportunities offered by the AFCFTA but also be an active player to support the economic transformation of the country.
“We are working closely with different stakeholders to ensure that we are able to improve our trade. We are working closely with the GCCI to ensure that the decision taken by the government aims in improving private sector development. At the lower level, we are working with different stakeholders to ensure that the government comes up with the right policies.”
Mr Jammeh said the trade ministry is dedicated to ensuring that The Gambia has a strong voice in regional trade agreements and that businesses in the country can seize every opportunity to grow on regional and global trade.
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