RESTRICTED  
  
WT/TPR/G/362  
20 September  2017 
(17-4950) Page: 1/24 
Trade Policy Re view Body  Original:  French  
 
  TRADE POLICY REVIEW  
REPORT BY  
THE MEMBER COUNTRIES OF THE WEST AFRICAN ECONOMIC AND MONETARY UNION (WAEMU)  
Pursuant to the Agreement Establishing the Trade Policy Review Mechanism (Annex 3 of the 
Marrakesh Agreement Establishing the World Trade Organizatio n), the policy statement by the 
member countries of the West African Economic and Monetary Union is attached.  
 
 
Note: This report is subject to restricted circulation and press emb argo until the end of the 
first session of the meeting o f the Trade Policy Review Body on the member countries of the 
West African Economic and Monetary Union.  WT/T PR/G/362 • WAEMU member countries  
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  Contents  
1  INTRODUCTION  ................................ ................................ ................................ ...........  3 
2  THE MACROECONOMIC SI TUATION  ................................ ................................ ..............  4 
2.1  Production  ................................ ................................ ................................ ...................  4 
2.2  Prices and inflation  ................................ ................................ ................................ ....... 5 
2.3  Public finances and government debt  ................................ ................................ ..............  5 
2.4  Trade developments  ................................ ................................ ................................ ..... 5 
2.4.1   Intra-community trade  ................................ ................................ ...............................  5 
2.4.2   Extra -community trade  ................................ ................................ ...............................  6 
2.5  Investment and the financial market  ................................ ................................ ...............  6 
3  THE THRUST OF NATIONAL  DEVELOPMENT POLICIES  ................................ ..................  7 
3.1  National economic policies  ................................ ................................ .............................  7 
3.2  National development plans  ................................ ................................ ...........................  7 
4  THE STRENGTHS AND PO TENTIAL OF THE WAEMU  MEMBER STATES  ..........................  10 
4.1  Business environment  ................................ ................................ ................................ . 10 
4.2  Agriculture and fisheries  ................................ ................................ ..............................  11 
4.2.1   Agriculture  ................................ ................................ ................................ ..............  11 
4.2.2   Livestock and fisheries  ................................ ................................ .............................  12 
4.3  Mining and hydrocarbons  ................................ ................................ .............................  12 
4.4  Manufacturing  ................................ ................................ ................................ ............  12 
4.5  Energy  ................................ ................................ ................................ ......................  13 
4.6  Transport  ................................ ................................ ................................ ..................  13 
4.7  Tourism and crafts  ................................ ................................ ................................ ...... 14 
4.8  Telecommunications  ................................ ................................ ................................ ... 14 
5  A DYNAMIC TRADE POLI CY ................................ ................................ ........................  14 
5.1  Overall framework  ................................ ................................ ................................ ...... 14 
5.2  Reforms implemented  or under way  ................................ ................................ ..............  16 
5.2.1   Trade facilitation programme  ................................ ................................ ....................  16 
5.2.2   Regional Road Transport and Transit Facilitation Programme  ................................ .........  16 
5.2.3   Trade development programme  ................................ ................................ .................  17 
5.2.4   Interconnection of customs computer systems  ................................ ............................  17 
5.2.5   Regime of free movement of goods  ................................ ................................ ............  17 
5.2.6   Free movement of services  ................................ ................................ .......................  18 
5.2.7   A proactive compe tition policy  ................................ ................................ ...................  18 
6  DYNAMIC TRADE COOPER ATION WITHIN WAEMU  ................................ .....................  19 
6.1  Multilateral trade agreements  ................................ ................................ ......................  19 
6.2  Bilateral and regional trade agreements  ................................ ................................ ........  20 
6.3  Cooperation with ECOWAS  ................................ ................................ ...........................  21 
7  CONCLUSIO N ................................ ................................ ................................ .............  22 
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  1  INTRODUCTION  
1.1.  The West African Economic and Monetary Union (WAEMU) was established on 
10 January  1994 and has eight member States : Benin, Burkina  Faso, Côte d'Ivoire , Guinea -Bissau, 
Mali, Niger, Senegal and Togo . Located in West Africa, these countries are linked by their usage of 
a common currency  – the CFA franc, and share many cultural traditions . French is the official 
language of seven of the eight States . Portuguese is the official language in Guinea -Bissau.  
1.2.  WAEMU covers an area measuring 3,506,126  km2 and in 2016 was home to 112  million 
people . Demographic growth is around 3 % per year . Five of the countries are coastal and the 
other three (Burkina Faso, Mali and Niger) are landlocked . The WA EMU area shares land borders 
with Nigeria, Liberia, Sierra  Leone, Gambia, Chad, Guinea, Ghana, Mauritania, Algeria and Libya.  
The stated aims of the WAEMU area include : 
 
 boosting the competitiveness of the economic and financial activities of the member 
States; 
 convergence of the economic performance and policies of the member States;  
 the creation  among  the member States of a common market based on the free 
move ment of people, goods, services  and capital , and on the right of establishment;  
 the introduction and coordination of national sectoral policies through the 
implementation of common actions and, ultimately, common policies;  
 to the extent necessary for the common market to function properly, the harmonization 
of member States ' legislation and, in partic ular, their tax regimes.  
1.3.  All WAEMU member States are Members of the World Trade Organization (WTO) . 
Côte d'Ivoire  is classified as a developing country whereas the seven other States are classed as 
least developed countries  (LDCs) . 
1.4.  They share the view that  the removal of tariff and non -tariff barriers will help them to make 
the most  of trade opportunities , increase trade, particularly intra -regional trade , and raise their  
standard of living.  
1.5.  The WAEMU member States recognize that the trade policy review mec hanism is an 
important WTO tool that promotes  the transparency, predictability and effectiveness of the 
multilateral trading system . The eight members have participated in trade policy reviews before, 
but this is the first time that they have done so as a group.  
1.6.  Building on the TPR  mechanism , with its  six-year interval between review s for LDCs and a 
four-year interval  for developing countries, WAEMU has established a trade monitoring mechanism 
to help further reduce barriers to trade within the WAEMU area . This internal "review " takes place 
annually.  
1.7.  The WAEMU member States are also members of international and subregional organizations 
such as the Economic Community of West African States (ECOWAS), the African Union, the WTO, 
the World Customs Organization,  the World Health Organization, and the Organization of the 
Islamic Conference  (OIC). 
1.8.  While w orld economic growth has been around 3 % over the last five years , the WAEMU 
member States have performed well : their average growth was 6%, which is higher than th e 
average for sub -Saharan Africa (1.5 %). Since the end of the post -election crisis of 2011, 
Côte d'Ivoire  has stood out from the rest of WAEMU with growth rates of at least 8 % and the 
prospect of 9 % for the next few years.  
1.9.  In conformity with the WAEMU conv ergence criteria , inflation has been held below 3% in all 
member States . The macroeconomic framework is broadly stable and monetary policy is directed 
independently by the Central Bank of West African States (BCEAO).  WT/T PR/G/362 • WAEMU member countries  
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  1.10.   Generally speaking, the WAEMU area enjo ys political stability . Elections are held regularly in 
an atmosphere of calm.  
1.11.   With the exception of Guinea -Bissau, the President of the Republic is the Head of State and 
exercises executive power . Guinea -Bissau has a semi -presidential regime and the Prime  Minister is 
the Head of the Executive . In all member States, legislative power is exercised by the elected 
representatives of the people and judicial power is vested in judges . All States have worked to 
strengthen the independence  of the courts, the freedom to engage in business, and freedom of 
expression . At the community level, the Court of Justice delivers rulings on failures by member 
States to fulfil their "WAEMU obligations ". Its jurisdiction also includes arbitration in disputes 
between member State s and/or between the Union and its agents.  
1.12.   Despite the relatively satisfactory economic situation, social indicators reflect the need to 
exploit all the opportunities available to improve people 's living conditions . In 2016, almost five  
out of every ten people were living below the poverty line, a n average  figure that masks an even  
more disturbing situation  in certain States . The WAEMU member States view aid-for-trade as an 
important means of reducing poverty.  
1.13.   With the support of the international community  the States are working together in order to 
manage  the security situation . Apart from Northern Mali, security in the WAEMU area is broadly 
satisfactory.  
1.14.   In terms of trade partnerships, all member States have signed the Economic Partnership 
Agreement with the European Union, their chief trading partner . They are also beneficiaries under 
the African Growth and Opportunity Act (AGOA) and have concluded a Trade and Investment 
Framework Agreement (TIFA) with the United States.  
2  THE MACROECONOMIC SITUATION  
2.1  Produc tion 
2.1.  The positive trend in economic activity continued in the Union in 2016 with growth estimated 
at 6.8 % compared to 6.6 % in 2015 . Still the highest in the franc area, that rate is also well above 
the average for sub-Saharan Africa, namely 3.4 % in 2015.  
2.2.  This level of economic performance is in evidence across the WAEMU area and is the result of 
several exogenous and endogenous factors.  
2.3.  Internationally we should note the continued depreciation of the euro and the ensuing 
improvement in competitiveness of ex ports from the region . The fall in oil prices, a significant cost 
burden in member States ' imports, is another factor.  
2.4.  Several endogenous factors have also had a bearing on the WAEMU States ' economic 
performance.  
2.5.  One factor is the strong performance  in the  primary sector . This strategic sector for the 
member States  has been  remarkably dynamic , reflecting a high level of  investment under national 
agricultural development programmes that has led to modernization of agricultural tools . Good 
rainfall is another  factor . The added value of the primary sector grew by close to 5 % between 
2015 and 2016 . The sector is expected  to contribute around 31 % of the Union 's GDP in 2016 . 
However , this performance still seems to depend heavily  on commodity prices.  
2.6.  The vitality of the secondary sector is driven by the continuing all-out construction 
programmes for  basic infrastructure in the Union and the boom in the extractive industries . This 
sector is forecast to  contribute 24.2 % of community GDP in 2016.  
2.7.  The boom i n the terti ary sector is led by commerce , transport, financial services and 
telecommunications . The strong performance  in commerce is linked with  the marketing  of 
agricultural surpluses from previous crop years in some States . Work to modernize road and port 
infrastr uctures lies behind the performance in the transport sector . Telecommunications 
performance is driven by various innovations on the part of telecommunications operators and the WT/T PR/G/362 • WAEMU member countries  
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  promotion of new products . Overall, the tertiary sector is likely to account fo r 45.2 % of WAEMU 
GDP in 2016.  
2.8.  The vitality of the private sector explains the buoyancy of the West African Regional 
Securities Exchange  (BRVM) . The BRVM is an economic and political success . It is the only 
securities exchange  in the world shared by more th an one country that is fully electronic and 
entirely seamless . At end-2016, 46  businesses were quoted on the BRVM.  
2.9.  More generally, the economic growth rates for each country in 2016 are as follows : 
Benin  (5.0%), Burkina Faso (5.4 %), Côte d 'Ivoire (9.3 %), Guinea -Bissau (5.4 %), Mali (5.4 %), 
Niger  (4.6%), Senegal (6.1 %) and Togo (5.0 %). 
2.2  Prices and inflation  
2.10.   In 2016, economic activity took place in a relatively stable monetary environment with low 
inflation of 0.3 % compared to 1 % in 2015 . Beyond  the inflation -targeting policy applied by the 
Central Bank, this situation is the consequence of plentiful cereal s production in the member 
States and the fall in oil prices, which slowed  rising pump prices.  
2.11.   Low inflation should continue in 2017 because of the anticipate d changes in the prices of 
foodstuffs on the market, the level of oil prices, and the bright outlook for food crop production in 
the region.  
2.3  Public finances and government debt  
2.12.   In all the member States, the modernization of tax administrations , computeriza tion of 
procedures and controls , and measures to combat tax evasion in all its forms have driven up tax 
revenues, increasing the tax burden in  2016 from 13.8 % to 16.7 %. As a result,  budget revenues 
have risen by nearly  10% and now represent  18.5% of commun ity GDP.  
2.13.   This trend should continue over the coming years as efforts continue to modernize the tax 
administrations (enhanced inspections, links between tax offices , etc.) and broaden  the tax base.  
2.14.   Total expenditure and net lending , which  remain high  in the  WAEMU area , rose by 11.4 % on 
average and now account for 25.8 % of the Union 's GDP . This is the consequence of growth in both 
current and capital expenditure.  
2.15.   The rise in current expenditure is attributable to the higher  wage bill (7.5 %) that 
accompanied curbs on transfers and subsidies ( -2.0%) and operating expenditure ( -1.2%). 
2.16.   Capital expenditure in 2016 rose by 20.7 %, fuelled by  the ongoing socio -economic 
infrastructure construction work . Burkina Faso (+45.5 %), Mali (+36.5 %), Côte d'Ivoire  (+28.4 %) 
and T ogo (+16.0 %) recorded the greatest increases.  
2.17.   There was an overall deficit of 4.2 % of GDP in the budget balance in 2016 , slightly higher 
than the figure of 4.1 % in 2015.  
2.18.   In 2016, the ratio of government debt outstanding to nominal GDP was 45.1 % compared to  
42.9% in 2015, a rise of more than two percentage points . The lowest government debt -to-income 
ratio was 35 % and the highest 76 %; this  ratio was above  50% in three  member States . The 
relatively low level of government debt can be attributed to the HIPC (H eavily  Indebted Poor 
Countries) initiative, which has benefited all WAEMU countries.  
2.4  Trade developments  
2.4.1   Intra -community trade  
2.19.   Intra-community trade is limited within the WAEMU area : the latest review  of WAEMU trade 
indicates  that it accounts for less than 15% of the area’s total trade , one of the lowest figures for a 
monetary area . Between 2000 and 2015, the value of intra -community trade increased (rising WT/T PR/G/362 • WAEMU member countries  
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  from CFAF  988 billion to CFAF  2,870  billion) but its relative share of total  WAEMU trade fell by 
almos t 3 percentage points.  
2.20.   Thanks to the Union 's work aimed at establish ing instruments to promote trade among  the 
member States, it is reasonable to expect that in the coming years intra -community trade will 
grow. The work in question include s the formulation  and implementation of the regional trade 
facilitation programme (RTFP), transport facilitation, the entry into force of the ECOWAS CET, the 
project to link up the computer systems of the member States ' customs authorities, and the 
development of statistic al tools . Additionally it should be noted that moves are under way to 
introduce the WAEMU free movement regime.  
2.4.2   Extra -community trade  
2.21.   At the same time, extra -community trade has risen sharply . Between 2000 and 2015, 
extra-community trade rose threefold, an d now accounts for just shy of 90 % of all trade 
within WAEMU.  
2.22.   The current share of extra -community trade in  all WAEMU trade illustrates that although the 
establishment of the Customs Union in 2000 was a decisive step forward in regional integration , it 
was also beneficial to trade with the rest of the world.  
2.23.   There are many suppliers of imports to the Union and they vary from country to country . 
The main countries for imports are the European Union members (30 %), other ECOWAS States 
(12%), China (10 %) and th e United States (6 %). Exports go mainly to the European Union (25 %), 
Switzerland (10 %), Nigeria (7 %) and the United States (5 %). 
2.24.   The trade balance deficit is deepening as a result of higher  imports (+1.0 %) combined with 
falling  exports ( -2.3%). 
2.5  Investment and the financial market  
2.25.   The rise in imports can be explained by the Union 's economies ' needs for purchases of 
capital goods and intermediate goods (+3.4 %) that are crucial for the massive investment 
envisaged under the national development programmes.  
2.26.   The rise in purchases of foodstuffs and current consumer goods (+4.6 %) as a result of 
strong domestic demand in WAEMU has also had a positive effect on imports.  
2.27.   The decline  in exports can be explained by the lower sales of rubber ( -13.2%), cocoa 
(-8.0%) and c otton ( -3.6%) following the downward price trends  on world  markets.  
2.28.   The services trade deficit is expected to contract by 4.1 % because of the fall in imports of 
other specialist services . This trend was flattened by the growth in freight resulting from ris ing 
imports of goods.  
2.29.   This change is the result of higher dividend payments to foreign shareholders of the Union 's 
main export businesses , and interest payments on the external debt.  
2.30.   It is also the result of the fall in external support provided to member States, partially offset 
by the rise in transfers of private funds , as a result of  higher remittance flows from the diaspora.  
2.31.   The capital account posted a surplus of CFAF  1,281.6  billion compared to 
CFAF 1,084.3  billion one year previously, an increase of 18.2%, in conjunction with the anticipated 
rise in grants connected with  public inv estment projects  in WAEMU.  
2.32.   With regard to  foreign direct investment (FDI) and portfoli o investment, there has been 
an 18.9% drop in capital inflows, essentially as a result of the fall in world oil prices that has led to 
the postpon ement of  investment in the petroleum sector . The fall in portfolio investment can be 
explained by the  fact that  member States  did not  issue any Eurobonds in 2016.  WT/T PR/G/362 • WAEMU member countries  
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  2.33.   According to the BCEAO, the bankin g network in WAEMU is continuing to develop . The 
number of approved credit institutions stood at 137 at end -2015 compared to 132 one year 
previously.  
2.34.   This enhancement of the banking landscape has helped to increase domestic credit and net 
external assets . Outstanding domestic loans , at CFAF 21,798.9  billion , grew by 12.4 % between 
December  2015 and December  2016, as a result of the growth in bank lending to the private 
sector . Bank loans grew by 14 % in one year.  
2.35.   The liquidity of the banking system is provide d by money  supply growth in  a context of 
monetary stability.  
2.36.   The Union also has a regional financial market, the BRVM, which enables businesses and 
States to finance their operations more easily.  
3  THE THRUST OF NATIONAL DEVELOPMENT POLICIES  
3.1  National economi c policies  
3.1.  The economic environment in WAEMU is favourable thanks to a regional market in goods and 
services and a regional financial market supported by a single currency that facilitates trade 
among member States by removing  the foreign  exchange and othe r risks.  
3.2.  The citizens of WAEMU can move freely , become established , and do business throughout the 
community territory . Visas are free in Senegal . In Benin they are free for Africans staying no 
longer than  three months.  
3.3.  Growth continues to be high . The for ecast for 2017 is average growth of more than 6 %. This 
is possible because of the investment in infrastructure under the various medium -term national 
development programmes and infrastructure works initiated and delivered by the member States.  
3.4.  The robustne ss of that growth is much discussed . The backdrop  is a socio -political 
environment featuring  a number of security challenges and poor growth in tax receipts . This 
results in  deteriorating  budget balances and reduces the return on public investment.  
3.5.  In thes e circumstances, WAEMU considers it advisable  to establish budgetary space  by 
focussing on  productive expenditure and improving the level of tax revenue by exploiting a 
number of particular niches . This led to the suggestion that States should reduce their  fiscal 
expenditure to improve the tax ratio.  
3.6.  The member States aim to diversify their economies . The WAEMU countries continue to 
concentrate too heavily on  single cash crops (cotton, coffee, cocoa, etc.) and mineral resources 
(gold, petroleum, uranium, ph osphate, etc.), a factor that makes them vulnerable and increases 
their exposure to turbulence in the global economy.  
3.2  National development plans  
3.7.  The a mbitious development plans currently being  implement ed in the member States are also 
a response to the con cerns outlined above . They include  Benin 's "Benin Revealed ", Burkina  Faso's 
National Economic and Social Development Plan (PNDES) 2016 -2020, Côte d'Ivoire 's National 
Development Plan 2016 -2020, Mali 's Strategic Framework for Economic Recovery  and Sustainab le 
Development  (CREDD, 2016 -2018), Niger 's Economic and Social Development Plan (PDES) and 
Senegal 's Emerging Senegal  Plan. 
3.8.  Benin 's "Benin Revealed " is an ambitious CFAF  9 trillion five-year programme with actions 
structured around three major p illars: 
 strengthen ing democracy, the rule of law and good governance;  
 launching  structural economic change;  
 improving  people 's living conditions.  WT/T PR/G/362 • WAEMU member countries  
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  3.9.  "Benin Revealed " is based on 45  major projects together with  95 sectoral projects . The aim of 
the various projects is to sustainably improve the economic and social environment of Benin . The 
Government has chosen to act simultaneously on political, administrative, economic and social 
levers to kick -start the economy . Specifically, it is introducing a framework that is more c onducive 
to investment and  improving the daily lives of the Beninese people.  
3.10.   The National Economic and Social Developmen t Plan (PNDES) of Burkina Faso  is 
the national framework  for action  by the State and its partners over the period 2016 -2020. At an 
estim ated cost of CFAF  15,395.4  billion, it aims to achieve cumulative growth in per capita income 
that is capable of reducing poverty, boosting human capacities and meeting basic needs within an 
equitable and sustainable social framework . The overall objective  of the PNDES is to bring about a 
structural transformation in the Burkina Faso economy that encourages strong, sustainable, 
resilient, inclusive growth  and generates decent jobs for all , resulting in greater social well -being.  
3.11.   The PNDES is based around th e three following major strategic planks:  
 plank 1 : reform ing institutions and modernizing  the administration;  
 plank 2 : develop ing human capital;  
 plank 3 : revitalizing th e sectors with high potential  for economic growth  and 
employment.  
3.12.   The approach of the P NDES will be set out in sectoral policies currently under review by the 
newly established sectoral planning bodies . Each sectoral policy will contain strategies , 
programmes and projects in line with  the guidelines of the State programme budget.  
3.13.   The Nationa l Development Plan (PND) of Côte d'Ivoire  aims to make the country a 
liberal, buoyant, emerging economy that is open to the rest of the world . Change to achieve 
emergent status should be driven by strong, sustained, inclusive growth that is respectful of 
gender and the environment, and employment -rich. The Ivorian Government is counting on that 
growth to double per capita GDP by the beginning of the 2020s.  
3.14.   As part of the PND, overall investment should reach as much as CFAF  30,000  billion, of 
which 60 % will be in the private sector, including Public -Private Partnerships.  
3.15.   The Ivorian Government makes  education the key priority of its plan by introducing 
compulsory  school ing, but  also focus es on self -sufficiency  in food , access to drinking water, 
electricity in  all villages with more than 500  inhabitants, "one citizen, one computer, one internet 
connection " and a functioning, neighbourhood healthcare system . Côte d'Ivoire  also wants to 
improve its ranking in Doing Business  and become one of the world's top 50 co untries in the  
business climate category, join the leading group of African countries for good governance and 
transparency in the management of public resources (World Bank Index), and become among the 
highest ranked African countries in the UNDP Human Dev elopment Index.  
3.16.   Guinea -Bissau has adopted the Guinea -Bissau Strategic Plan 2025 , "Terra Ranka ". It 
will be implemented between 2015 and 2025 and is based on six major priorities as follows : 
governance, infrastructure, urban development, human development, agro-industry and 
biodiversity . These priorities  aim to  support competitiveness and economic growth.  
3.17.   Guinea -Bissau plans to become a diversified economy by 2025 based on the  country 's 
four drivers of growth : agriculture and agro -industry, fisheries, touris m, and mining . The 
development of these drivers will be accelerated by two other pillars : powerhouse  sectors (energy 
and IT) and domestic sectors (housing, construction, commerce and distribution) . By way of 
illustration, Guinea -Bissau intends to become se lf-sufficient in rice from 20 20, with production 
of 450,000  tonnes , compared to around 200,000  tonnes  in 2016, and to become a net exporter 
in 2025 with production of over 500,000  tonnes . That aim  will be achieved by 
developing  54,000  ha of rain -fed lowlan ds, improving rice -farming practices, replenishing the 
country 's seed capital, and reorganizing storage and distribution systems.  WT/T PR/G/362 • WAEMU member countries  
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  3.18.   Mali is relying  on the Strategic Framework for Economic Recovery  and Sustainable 
Development (CREDD)  to revitalize its economy . 
3.19.   The overall objective of the CREDD is to attain the Sustainable Development Goals (SDG) by 
2030 by promoting inclusive, sustainable development that furthers a reduction in both poverty 
and inequalities on the basis of the country 's potential and resilie nce, among other factors.  
3.20.   The strategy has two preliminary priorities, three  strategic priorities, 13  priority areas and 
38 specific objectives . Each specific objective comprises  three  elements:  
 budgetary performance with programme budgets ; 
 measures to mod ernize institutions;  
 quick-impact activities . 
3.21.   The strategy is supported by an action plan and incorporates cross -sector guidelines 
including mainstreaming of topic areas s uch as gender, youth employment  and climate change in 
the formulation, implementation  and monitoring of public policies . In all, CFAF 3,440  billion in 
budgetary allocations has been earmarked to help achieve the objectives that have been set.  
3.22.   Niger is implementing  the Social and Economic Development Plan (PDES) in order to 
promote the economic, social and cultural well -being of the country 's people . The Plan sets five 
strategic priorities . They include : building up the credibility and effectiveness of public institutions, 
establishing sustainable  conditions for  balanced, inclusive developme nt; promoting food security 
and sustainable agricultural development ; promoting a competitive and diversified economy for 
accelerated, inclusive growth ; and promoting social development.  
3.23.   In addition to the PDES , the 3N Initiative (Niger Feeds  Niger ) aims t o reduce the country 's 
dependence on external sources for food security.  
3.24.   The Emerging Senegal P lan (PSE)  is the framewo rk for Senegal 's medium - and long -term 
economic and social policy . The PSE is implemented through a five -year Priority Action  Plan (PAP) 
built around strategic goals, sectoral objectives and action lines . The PAP is rolled out through 
development projects and programmes included in a budget framework for the period 2014 -2018.  
3.25.   The PAP is based on the best -case scenario s et out in the PSE, es timated 
at CFAF 9,685.7  billion. Some CFAF  5,737.6  billion of that funding, or 59.2 %, is already in place , 
leaving  a funding gap of CFAF  2,964  billion, or 30.6 %; the remaining CFAF  984 billion, or 10.2 %, 
will be covered by additional revenue and expenditur e savings.  
3.26.   Diligent implementation of the key reforms and projects in the PAP should bring  average 
annual growth of 7.1 % over the period 2014 -2018, reducing the budget deficit from 5.4 % in 2013 
to 3.9 % in 2018 . The current account deficit will fall below 6 % in 2018 and inflation, measured by 
the GDP deflator, will remain below the community threshold of 3 %. 
3.27.   In Togo, the Accelerated Growth and Employment Promo tion Strategy (SCAPE 
2013 -2017)  is coming to an end and the National Development Plan (P ND 2018-2022) is being 
drafted.  
3.28.   The aim of Togo 's PND 2018-2022 is to lay the groundwork for Togo to become an emerging 
economy by 2022 and an inclusive, strong and stable democratic nation that is open to the world . 
There will be  a structural transformation of the ec onomy , and all regional communities  will play a 
substantive role in strong, sustainable and inclusive growth that enables all its people to have 
equitable access to high -calibre social services while complying with environmental and human 
rights standards.  
3.29.   The strategy will have five priorities, namely improvements to the population 's welfare and 
well-being ; improvements to productivity and competitiveness in growth sectors ; stronger  
infrastructures that support growth ; sustainable management of the regions , the environment and 
standards of living ; and enhanced  governance and peace -building.  WT/T PR/G/362 • WAEMU member countries  
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  4  THE STRENGTHS AND POTENTIAL OF THE WAEMU MEMBER STATES  
4.1.  WAEMU has an improving business environment and significant potential in various sectors 
including agriculture, mi ning, industry, fisheries, tourism, telecommunications and transport.  
4.1  Business environment  
4.2.  Since 2013 there have been improvements in the business environment in the WAEMU States 
according to the rankings in the Doing Business  report . Five of the eight Sta tes rose by more than 
ten places between 2013 and 2016, and Côte d'Ivoire  gained a record 35  places, followed by Benin 
with 17 and Niger with 16 . The latest Doing Business  ranks Mali (141st in the world) as the leading 
WAEMU country followed by Côte d'Ivoire (142nd in the world).  
4.3.  The reforms chiefly concerned:  
 introduction of interconnected single windows to reduce import and export  times ; 
 reduction in the number of documents required for import or export;  
 improved port management;  
 development of infrastruc ture around ports;  
 easing of transit rules for lorries;  
 simplification of inspection report  procedures ; 
 reduction in port and terminal charges;  
 introduction of electronic information exchange between services;  
 reduction in number s of checkpoints;  
 liberaliz ation of the goods transport market.  
4.4.  A regional programme to develop industry and promote the private sector has been 
introduced to further  encourage an environment that is conducive to private initiative and 
competitiveness among businesses.  
4.5.  A regional in itiative to improve the business climate has also been drawn up to encourage the 
member States to implement reforms for each indicator , thus bringing them into closer alignment 
with the adopted community standards and improv ing the rankings of the WAEMU co untries . 
The aim is to raise the rankings to between 87th and 114th in the world, or between 8th and 12th in 
sub-Saharan  Africa.  
4.6.  To that end a regional workshop to pool experience is held each year by the WAEMU 
Commission.  
4.7.  The following points should also be noted:  
 the member States have a common business law (OHADA) that supplements their other 
provisions to safeguard investment;  
 certain  regulations are being reviewed to increase the protection they afford to 
investment and make them more conducive to prod uctivity and competitiveness of firms . 
4.8.  WAEMU also has a liberal environment that guarantees freedom of investment and 
unrestricted transfer of earnings , including : WT/T PR/G/362 • WAEMU member countries  
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   a single convertible currency comm on to all States in the Union (€ 1 = CFAF 655.957) 
backed b y a rehabilitated  banking system;  
 a strategic position in West Africa at a crossroads for trade development;  
 an emerging market in terms of population and jobs , as embodied by:  
 a population estimated at 112  million people and demographic growth of 3 %; 
 a young, skilled, available workforce;  
 the growing empowerment of women, thus raising agricultural productivity  and 
production . 
4.9.  Where finance is concerned  there is an effective financial and insurance system that 
includes:  
 a sound banking system governed by a single Central  Bank, the BCEAO, for all 
eight member States;  
 a well -organized financial market with a West African Regional Securities Exchange 
(BRVM) and a West African venture capital company  (SOAGA);  
 several international commercial banks and insurance companies.  
4.10.   The fiscal framework  and accounting system  have been harmonized and include:  
 a single accounting system , SYSCOA ( West African Accounting System ); 
 a double taxation agreement across the member States;  
 reduced levels of capital and income tax;  
 a common external tariff applied to products imported from third States;  
 exemption from customs duties for products originating in the Union.  
4.11.   A complementary  regional approach to security risks  based on:  
 preventive diplomacy by representatives of the national  parliaments gathered in the 
WAEMU Interparliamentary Committee;  
 introduction of the "zero tolerance " principle for non -constitutional regime changes;  
 the adoption of a regional peace and security programme within the Union;  
 further  development of internat ional cooperation on matters of peace and security.  
4.2  Agriculture and fisheries  
4.2.1   Agriculture  
4.12.   In all member States, agriculture is the primary source of income and the main activity for 
the majority of rural households . WAEMU is:  
 the world 's No.1 producer of c ocoa;  
 the world 's No.1 producer of cashew nuts;  
 Africa 's No.1 producer of cotton;  
 the world 's No.3 producer of coffee.  WT/T PR/G/362 • WAEMU member countries  
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  4.13.   The WAEMU member States are also producers of agricultural products such as rice, maize, 
banana, palm oil, pineapple, rubber, shea butter , groundnuts, sesame, and fruits and vegetables 
including mango.  
4.14.   In 2016 agriculture accounted for between 15 % and 45 % of GDP (in Senegal and 
Guinea -Bissau , respectively).  
4.15.   In view of the sector’s  importance, the member States adopted the Union Agricultural  Policy 
(PAU) on 10  December  2001 under Additional Act No.  03/2001 . It aims to resolve the major 
challenges facing agriculture in the WAEMU area, namely , how to increase agricultural output 
sustainably through intensification , and the joint management of n atural resources that are now  
regional public goods and are threat ened by  intensify ing competition.  
4.16.   Apart from agriculture, the WAEMU member States are major  producers of cattle, meat and 
fisheries products.  
4.2.2   Livestock and fisheries  
4.17.   The countries of the Sah el (Burkina Faso, Mali and Niger) alone account for three quarters of 
the cattle  population and 70 % of the sheep /goat population of WAEMU and provide  the bulk of 
animal protein requirements in the subregion.  
4.18.   Fisheries has a strategic social position and co ntributes hugel y to the economies of the 
eight WAEMU States . In some countries its contribution to GDP is relatively high (4.2 % in Mali, 
3.4% in Togo, 4 % in Guinea -Bissau, 2.6 % in Niger and 1.7 % in Senegal) . Fisheries contributes to 
the budgetary receipts of the WAEMU countries through fishing licence fees and financial 
compensation  under  fisheries agreements with third countries . Senegal, Côte d'Ivoire  and 
Guinea -Bissau have fish -rich waters and significant potential for development in marine products.  
4.19.   In order to combat overfishing and abuse of marine products, a series of measures has been 
adopted, including the Directive establishing a common system for the monitoring, inspection and 
oversight of fisheries within WAEMU and the Directive introducing a com mon system for the 
sustainable management of fisher ies resources in the member States of the Union.  
4.3  Mining  and hydrocarbons  
4.20.   The WAEMU countries have deposits of oil (Niger, Côte d'Ivoire , Senegal ); 
gas (Côte d'Ivoire , Senegal ); uranium (Niger ); gold (Côte d'Ivoire , Senegal, Mali, Burkina Faso, 
Niger ); phosphate s (Burkina Faso, Togo, Senegal, Mali, zinc (Burkina Faso ); diamond 
(Côte d'Ivoire ); manganese (Burkina Faso, Côte d'Ivoire ); and various quarriable substances in all 
member States, etc . 
4.21.   The developmen t of the mineral resources sector in recent years has considerably increased 
the sector 's share in the economies of most of the member States . According to the EITI Reports 
2013, the extractive sector accounts for 67 % of Mali’s exports  and 63.1 % of exports  from Burkina 
Faso. However , the sector is poorly integrated into the national economies and has very limited 
knock -on effects on them, thus restricting its real impact on economic growth and poverty 
reduction.  
4.22.   The Regional Mining and Hydrocarbons Developm ent Programme is the vehicle for 
implementing the WAEMU 's Common Mining Policy.  
4.4  Manufacturing  
4.23.   Industry in the WAEMU area, which should be the primary generator  of added value, makes 
only a small contribution to GDP (around 20 %). 
4.24.   WAEMU has enormous industri al potential that is just waiting to be unleashed . Growth 
clusters have been under development for three years to build processing capacity for goods, 
especially agricultural products.  WT/T PR/G/362 • WAEMU member countries  
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  4.25.   The Common Industrial Policy (PIC) will significantly leverage growth i n this area . It is built 
around six interdependent planks, namely : the restructuring and upgrading of industry, the 
promotion of quality, the promotion of information networks, the promotion of investment and 
exports, the development of small and medium -sized enterprises and small and medium -sized 
industries, and increased cooperation  at subregional level.  
4.5  Energy  
4.26.   The overall energy position of the WAEMU States is characterized by the following features : 
(a) poor access to modern energy services, primarily e lectricity ; (b) thermal -generation power 
plants that use imported petroleum products  predominate ; (c) power generation continues to be 
expensive ; (d) there is little use of renewable energy to meet people 's energy needs despite 
significant potential in ren ewable s. In view of the shortfall between supply and demand, it was 
vital for the Common Energy Policy (PEC) to take a new approach, especially under  the Regional 
Sustainable Energy Initiative (IRED) . The IRED has four priorities , namely:  
 to develop a dive rsified, competitive and sustainable power supply;  
 to draw up a regional energy management plan;  
 to expedite reforms and the emergence of a regional market in electricity ; 
 to establish a funding and support  mechanism for the sector.  
4.27.   Implementation of  the P EC under the flagship IRED programme will : (a) ensure security of 
the Union 's energy supply ; (b) develop optimum management of the Union 's energy resources by 
interconnecting power networks ; (c) promote renewable energy ; (d) promote energy efficiency ; 
(e) develop and improve the  rural population 's access to energy services ; (f) contribute to 
safeguarding the environment and combating global warming.  
4.6  Transport  
4.28.   The community area comprises highways that act as traffic corridors where free -flowing 
traffic is a  plus for the free movement of people and goods . In its Community Road Infrastructure 
and Transport Action Programme (PACIT R), WAEMU undertook to enhance the traffic corridors . 
The community envisions an integrated network of road, rail, air, maritime and river transport . By 
exploiting all these opportunities , WAEMU will be able to offer more travel and movement options 
to its citizens : hence the need to beef up the existing infrastructures and build new ones.  
4.29.   For road infrastructures, nine road projects ar e under way with the support of technical and 
financial partners . The projects  involv e 4,348.5  km of community roads for a total sum of 
CFAF 974,596  billion . The projects have connected all the capitals in the WAEMU area with 
tarmacked roads . Transport inf rastructures are continually being upgrad ed. 
4.30.   The States have worked to reduce the number of road checkpoints and the ensuing delays 
so that  traffic  can flow smoothly  along the WAEMU corridors despite the security challenges.  
4.31.   In 2016 only a few capitals wer e linked by rail : Bamako -Dakar (1,287  km), and 
Abidjan -Ouagadougou (1,150  km). Two major rail projects seek to increase mobility in the WAEMU 
area: the first is to provide a rail link between Côte d'Ivoire , Burkina Faso, Niger, Benin and Togo ; 
and the seco nd should provide a rail service to Senegal, Mali and Burkina Faso.  
4.32.   The capitals in the WAEMU area are served by airlines, the most important of which are 
Air Côte d'Ivoire , ASKY International  and Air Burkina . Additionally, the Union has five maritime 
ports for goods  transport and is developing road and rail infrastructures nationally and regionally 
to provide links between coastal and landlocked countries.  
4.33.   The maritime States have also taken action to modernize ports, including the purchase of 
new handling  equipment, making port transit operations paperless , and reducing transit times.  WT/T PR/G/362 • WAEMU member countries  
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  4.7  Tourism and crafts  
4.34.   The Union has potential for diversified tourism and a wealth of resources to that end : 
desert, sea, rivers, animal reserves and par ks, natural landscapes, religiou s and ethnic  
commun ities with strong cultural identities, lucrative niche -sectors (hunting and fishing), etc. 
Despite its strong potential, this sector has been adversely affected by the weakness of community 
legislation and regulations . The shortc omings lie in the details of the approach to tourism 
development, the definitions and classifications in the sector , and the conditions governing the 
issuance of permits to run tourism -related establishments . In order to redress the imbalance, the 
Union is  working to harmonize the regulatory framework for the tourism sector.  
4.35.   The Union 's tourism product is in line with current expectations in demand for international 
tourism ; despite its strong potential however,  security challenges tend to reduce the sector 's 
contribution to the economies of the WAEMU countries.  
4.36.   In order to boost  the sector, Senegal has made visas free for tourists and Benin has 
abolished them for all Africans who wish to visit for up to three months.  
4.37.   Crafts is a sector at the heart of econo mic activity in the WAEMU countries . The States say 
that it accounts for between 10 % and 20 % of GDP and employs a considerable share of the active 
population . In order to support th e sector 's development, the Union has adopted a community 
Crafts Code that ultimately seeks to facilitate conditions for craft -related activities  and to improve 
artisans ' skill levels.  
4.8  Telecommunications  
4.38.   There is competition in all market segments of the telecommunications sector, namely fixed 
lines, mobile telephony and the Internet. Competition has increased , primarily in the mobile 
telephony segment , where 25  operators pursue their activities in the eight States.  
4.39.   There has also been  an important technological advance with the use of 3G, 4G and WiMax 
for wireless connections . The same applies to  wired connections using ADSL, cable and 
fibre-optics.  
4.40.   The market is booming and has significant growth potential . The number of wired lines is 
very low . It rose from 926,533  in 2006 to 1,178,904  lines in 2015, an annual average increase o f 
2.7%. 
4.41.   There has been rapid growth in mobile s over the last ten years, 
from 11,981,654  subscribers to 101,883,553  subscribers in 2015, an average increase over the 
period of 75%. 
4.42.   Finally, Internet  use rates have grown notably over the past ten years . The current rate 
is 28%. Although low compared to developed and emergent countries, it is growing strongly, at an 
average rate of  4% over the past ten years.  
4.43.   Since 2006 WAEMU has been working to introduce a vibrant, competitive , common 
telecommunications and I CT market . It has therefore adopted a number of directives that have 
been transposed into the national laws of the member States.  
4.44.   Preparation of a new series of directives is currently under way to address the shortcomings 
of the first reform and breathe n ew life into the information and communications technologies 
sector.  
5  A DYNAMIC TRADE POLICY  
5.1  Overall  framework  
5.1.  The Common Trade Policy of the Union (CTPU) comprises the various measures implemented 
individually or jointly by the bodies of WAEMU in order to ensure both the smooth operation of the 
Union market  and the adequate, regular supply of all high -quality goods, products and services at WT/T PR/G/362 • WAEMU member countries  
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  the best prices  to consumers . It also aims to develop and promote products originating in the 
Union  on external market s. 
5.2.  Established in 1994, the WAEMU 's CTPU aims to establish an environment of buoyant 
economic growth by constructi ng a common market that is competitive, open and investor -
friendly,  with the overall objective of develop ing intra-community and international  trade for the 
member States of the Union . To that end, the Union 's trade policy aims to establish the right 
competitive conditions to increase and diversify trade within WAEMU as well as to boost 
participation in the multilateral trading system.  
5.3.  The princ iples underlying the CTPU were clearly set out in the Union Treaty . The transfer of 
powers over trade policy was legally enshrined in WAEMU under several Treaty provisions, 
especially Articles 76 -90. Those provisions are the basis for the main reforms made  by the Union 
concerning  the gradual liberalization of intra -community trade, the common external tariff and the 
common competition rules.  
5.4.  Nationally, responsibility for the design, implementation and monitoring /assessment of the 
policies lies with the var ious ministries of trade . Additionally, other Ministries have relatively 
limited, shared power s in this field . That is especially so for the ministries of the economy and 
finance, rural development, foreign affairs and African integration, and transport.  
5.5.  The current CTPU instruments relate both specifically  to trade  matters and to other, broader 
economic areas , including  
 the WAEMU common external tariff (CET) , which has been in existence since 2000 ; a 
new version has been in force since 1  January  2015. The tariff features a fifth category 
defined as "specific goods for economic development " that carry a 35 % rate. The CET 
covers all ECOWAS member States . Currently all WAEMU member States apply the new 
version of the CET;  
 the Preferential Liberalization Scheme  defined in Additional Act No.  4/96 of 1 0 May 1996 
on the duties and taxes applicable to local and artisanal products and to industrial 
products, whether originating or not;  
 rules of origin : in 2016, over 6 ,000 products benefited from community origin in t he 
WAEMU area;  
 contingency measures such as the WAEMU Anti -Dumping Code, or the special import tax 
(TCI);  
 customs valuation rules;  
 prohibitions, quantitative restrictions and licensing;  
 standards, technical regulations, and accreditation and certification procedures;  
 sanitary and phytosanitary measures;   
 protection of intellectual property rights.  
5.6.  Within the framework of the specific commitments made by the WAEMU member States 
under the WTO General Agreement on Trade in Services, the States assumed 27  commi tments 
including 8 in the tourism sector, 4 in transport and 3 in professional business services, cultural 
services and financial services respectively . In WAEMU the fields concerned are as follows:  
 tourism and temporary residence;  
 postal, telecommunicatio ns and radio communications services;  
 transport services (air transport, maritime and port services, land transport);  WT/T PR/G/362 • WAEMU member countries  
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   financial services (insurance, other financial services);  
 professional services that have been the subject of various regulations in the U nion; 
 education services;  
 cultural services.  
5.2  Reforms implemented or under way  
5.7.  The following  significant reforms have been or will be implemented over the next five years in 
order to achieve the objectives ascribed to the Union 's Trade Policy .  
5.2.1   Trade facili tation programme  
5.8.  Trade in the WAEMU area is hampered by a number of barriers that impede the integration 
process . These barriers include the large number of roadblocks and checks on the corridors in the 
community territory ; unofficial,  illicit payments on highways ; the slow pace of formalities upon 
import and export of goods ; and the high number and complex nature of procedures and 
documents that economic operators have to contend with.  
5.9.  The discussions between the WAEMU member States have highlighted the ne ed to improve 
the trading environment by reducing the cost and length of transactions . This is the aim of trade 
facilitation based on rules such as transparency , simplification , harmonization of procedures, 
formalities, documents , and information on the mo vement of goods.  
5.10.   Based on these findings WAEMU has designed and , between 2016 and 2020, will implement 
a regional trade facilitation programme (PRFE)  in line with the spirit of the Bali Package . 
Implementation of the programme will help to achieve the four  outcomes below:  
 improve trade facilitation practices within the Union;  
 modernize the national customs administrations;  
 increase the transparency and predictability of trade transactions and cross -border 
transport;  
 introduce more efficient coordination int o the management of the structures and 
procedures involved in external trade.  
5.2.2   Regional Road Transport and Transit  Facilitation Programme  
5.11.   Adopted in 2003 by the Heads of State and Government , this Programme focused on 
promoting cross -border trade.  
5.12.   In order  to improve intra -community trade, national road transport and transit facilitation 
committees were established in each country, key Union road corridors were identified, the 
Irregular Practices Observatory  (OPA) was set up, projects to construct checkpoin ts at the borders 
of the Union member States were launched and the security mechanism for the inter -State road 
transit of goods  (TRIE) was relaunched . 
5.13.   These initiatives reduced the number of road checkpoints on community highways, 
improved travel times thr ough corridors and considerably reduced the sums exchanged in  illicit 
fees. Unfortunately, the re -emergence of security issues has led to an increase in the number of 
checkpoints, especially in Burkina Faso, Mali and Niger.  
5.14.   Since taking the decision1 on th e reduction of checkpoints on WAEMU inter -State highways , 
the Union 's approach has been to reduce  the number of checkpoints for goods in transit to three 
                                                
1 Online information v iewed at: 
http://www.uemoa.int/sites/default/files/bibliotheque/decision_15_2005_cm_uemoa.pdf.  WT/T PR/G/362 • WAEMU member countries  
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  on Union corridors, namely the point of departure of the goods, the border crossing point, and the 
unloading point.  
5.15.   Actions are under way to implement this regulation effectively , as it will definitely boost the 
level of intra -community trade in the WAEMU area.  
5.2.3   Trade development programme  
5.16.   The level of trade in the WAEMU continues to be low, despite the wor k done by the member 
States and the Commission . According to the  2014 report on the Union’s  trade , the share of 
intra-community trade within the member States’ total goods trade  was estimated at 11.3 % 
in 2013. With regard to  extra-community trade, despite a slight rise since the introduction of the 
Customs Union, the WAEMU area continues to account for a neg ligible share of world trade 
at 0.16% in 2013.  
5.17.   Finally, the Union holds little sway over multilateral trade negotiations or over negotiations 
to improve  market access for its products.  
5.18.   The aim of the Regional Trade Development Programme (PRDEC) , intended  for delivery  
between 2016 and 2020 , is to step up and diversify trade in goods and services in the Union . In 
particular it seeks to:  
 promote trade in the  member States;  
 implement trade policy instruments;  
 negotiate international trade and investment agreements with third countries.  
5.2.4   Interconnection of customs computer systems  
5.19.   WAEMU aims to interconnect the customs computer systems in the member States in th e 
years ahead . Among other things, this will help to reduce the time required for transit procedures 
along the various corridors in the area , and facilitate the  exchang e of information and data 
between the member States to combat fraud, manage risk and sec ure the supply chain . The 
project will make trade between the member States more seamless . The pilot stage, involving 
Burkina Faso and Togo, is under way.  
5.20.   Generally speaking, interconnection is a prerequisite for the introduction of the free 
movement regim e within WAEMU . It will play a large part in modernizing the customs 
administrations of the member States.  
5.21.   Specifically, it will enable the customs administrations to exchange data that will ease  the 
free movement of goods  and improve the application of th e CET, as well as helping  to implement 
other reforms that will further deepen  the customs union.  
5.2.5   Regime of  free movement of goods  
5.22.   One of the major projects of WAEMU is to introduce a regime  of free movement of goods . 
Without such a regime , the WAEMU Custom s Union will continue to be incomplete, resulting in the 
continued presence of multiple checkpoints at the Union 's internal borders ; a requirement to use 
the less beneficial transit regime ; and ultimately,  segmentation into national markets . Additionally,  
the private sector would be unable to benefit from the economies of scale that the WAEMU 
regional economic integration process  is expected to bring . With this in mind, t he initiative aims 
to: 
 consolidate solidarity  across  the member States by pooling resou rces, facilitating the 
free movement of goods originating in the Union and goods from a third origin.  
 remove multiple tax ation of a single good;  WT/T PR/G/362 • WAEMU member countries  
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   reduce the time spent waiting at the Union 's internal checkpoints for border inspections;  
 turn the "community b order " concept  into a reality . 
5.2.6   Free movement of services  
5.23.   The Union envisages the free, effective movement of services within the WAEMU area . The 
aim of th is current new project is to establish the conditions for the free movement of services as 
part of  the establishment of the WAEMU common market.  
5.24.   The Union trade policy will have to take account of  the new, Union -level projects ; the legal 
framework for public and private partnerships  should be mentioned  in this connection . The 
framework  supplement s the arra ngements for government procurement  and is a matter  of ongoing 
discussion . Its purpose is  to regulate contracts in which the State and its agencies enter into a 
contractual business relationship with a private promot er or donor in order to construct 
infras tructure or provide services.  
5.2.7   A pro active competition policy  
5.25.   Article  76 of the WAEMU Treaty provides for the establishment of common competition rules 
applicable to public and private enterprises and to public aid . They draw on development goals and 
legal instruments that embrace international standards and are implemented by  community and 
national institutions.  
5.26.   Competition policy as established under the Treaty has three major objectives, namely:  
 to act as an economic policy instrument by promoting competi tiveness and encouraging 
the optimum redistribution of resources and economies of scale in the consumers ' 
interest;  
 to consolidate the Customs Union by combating all practices having the purpose or  effect 
of segmenting  the Union market along national borde rs; 
 to support sectoral policies by opening up network industries, promoting the emergence 
of competitive businesses, and ensuring that the objectives and thrust of industrial policy 
are compatible with those inherent in the construction of the common mark et. 
5.27.   Community competition rules regulate competition between the economic agents of the 
Union . Competition is governed by Articles  88-90 of the Treaty . These lay down the framework and 
scope of competition , and prohibit four types of practice : 
 agreements, associations  or concerted practices among enterprises for the purpose or 
having the effect of restricting or distorting competition within the Union;  
 anti-competitive practices attributable to member  States;  
 any practice by one or more enterprises equivale nt to an abuse of dominant position on 
the common market or in a significant part thereof;  
 public aid liable to distort competition by favouring certain enterprises or producers . 
5.28.   Since 2002, three regulations and two directives have been adopted to impleme nt the 
WAEMU competition policy . Their purpose is to  establish  the implementing provisions for 
substantive rules, procedures,  and transparency in relationships between public enterprises and 
States . Additionally, one of the directives lays down the distrib ution of powers between the 
Commission and the national competition bodies.  
5.29.   Pursuant to those rules, and having heard the opinions and recommendations of the 
Consultative Committee on Competitio n – a body comprising represe ntatives from the member WT/T PR/G/362 • WAEMU member countries  
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  States - the WAEMU Commission made a number of decisions concerning procedural issues, 
penalties for anti -competitive practices, negative clearance , and individual exemption.  
5.30.   Nonetheless, in order to address the difficulties encountered in implementing this policy  and 
to better coordinate oversight of  the regional market, WAEMU has drawn up and is delivering a 
Programme to Regulate Markets in Goods and Services (PRMBS) . Its aim is to make the Union 's 
action in this area more effective.  
5.31.   The PRMBS targets consumers a nd businesses as well as legal practitioners (lawyers, 
judges, legal advisers), the national governments of the WAEMU member States, the WAEMU 
Commission, higher education establishments and their members.  
5.32.   Implementation of the Programme will help to devel op a culture of competition in the Union 
by promoting fair, healthy competition between businesses in the consumers ' interest and opening 
certain sectors up to competition.  
5.33.   Additionally, in cooperation with ECOWAS, WAEMU is taking measure s aimed at more 
coordinated  implementation of ECOWAS and WAEMU competition law . This involves establishing a 
mechanism for cooperation that can: (a) ensure the effectiveness of measures taken by both 
organizations to combat anti -competitive practices ; (b) prevent inconsiste nt decisions ; (c) provide 
legal certainty to businesses and States.  
6  DYNAMIC TRADE COOPERATION WITHIN WAEMU  
6.1.  Recognizing  the major role that international trade must play in reducing the region 's 
economic development gap, the WAEMU member States engage in ac tive trade cooperation 
bilaterally and multilaterally in order to ease the downstream constraints on the Union 's capacity 
to gain a larger share of  global trade . 
6.2.  Accordingly, as part of the development of their trade relations with third parties, the 
membe r States have conferred exclusive authority for their common trade policy with third S tates 
upon the Commission  – the body tasked with following up  and implementing  the decisions of the 
WAEMU Council of Ministers.  
6.3.  Articles  84 and  85 of the Union Treaty deal with, respectively,  the general framework for 
handling trade negotiations and the arrangements for conducting trade negotiations within 
international organizations where WAEMU is not specifically represented . Consequently, the 
bilateral trade agreements  previously entered into by WAEMU members will gradually be replaced 
by agreements between WAEMU and third countries.  
6.4.  Pursuant to  Articles  84 and  85 of the Treaty, the Council of Ministers, as the decision -making 
body of the Union, has adopted several directives that confer a mandate upon the WAEMU 
Commission to:  
 open and conduct negotiations for trade and investment agreements with third 
countries;  
 coordinate member States ' participation during multilateral trade negotiations.  
6.5.  The directives reflect the co mmitment on the part of the Union 's member States to promote 
and develop their trade relations with various external partners at the bilateral, regional, 
multilateral and continental levels.  
6.1  Multilateral trade agreements  
6.6.  For the purposes of efficient parti cipation in the various WTO Ministerial Conferences, 
including those held in Bali, Indonesia, in 2013 and in Nairobi, Kenya, in 2015 t he Council of 
Ministers has adopted directives  that have provided a means of coordinating the WAEMU member 
States ' negotia ting positions on all matters under discussion . WT/T PR/G/362 • WAEMU member countries  
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  6.7.  The WAEMU countries welcome the substantial progress made during the last two WTO 
Ministerial Conferences in Bali and Nairobi, which achieved important outcomes, especially on 
agriculture, cotton and issues r elated to least  developed countries (LDCs), despite their limited 
scope.  
6.8.  The WAEMU countries support the implementation of the other Bali  outcomes , especially the 
WTO Agreement on Trade Facilitation (TFA) , and welcome the entry into force of this Agreement  
on 22  February  2017. Five of the eight WAEMU member countries have ratified it . The three that 
have not yet done so are Benin, Burkina Faso and Guinea -Bissau . Significant work is under way to 
implement the measures set out in the Agreement.  
6.9.  The WAEMU coun tries recognize the importance of the negotiations taking place within the 
WTO towards a conclusion of the Doha Development Round.  
6.10.   They nonetheless call upon the WTO Members, in particular the developed countries, to take 
a more forthcoming position for th e purpose of seeking the compromise that is crucial in 
constructing a fair, balanced and equitable multilateral trading system that addresses the concerns 
of all its Members, particularly those of the LDCs. They also call upon the WTO Members to adopt 
ambitious measures to abolish all agricultural subsidies and certain trade -distorting domestic 
support, especially in the cotton sector.  
6.11.   Accordingly they emphasize the need for the development dimension to continue to be the 
central core of post -Nairobi work a nd therefore for appropriate solutions to be found to the 
concerns of the developing countries and the least developed countries.  
6.2  Bilateral and regional trade agreements  
6.12.   The Council of Ministers has adopted several directives that confer a mandate upon the  
WAEMU Commission to open negotiations leading to the conclusion of trade and investment 
agreements  with: 
 the United States (Directive No.  07/98/CM/UEMOA of 22  December  1998);  
 Morocco (Directive No.  01/99/CM/UEMOA of 6  August  1999);  
 Tunisia (Directive No.  07/99/CM/UEMOA of 21  December  1999);  
 Algeria (Directive No.  03/2003/CM/UEMOA of 26  June 2003);  
 Egypt (Directive No.  04/2003/CM/UEMOA of 26  June 2003);  
 Lebanon (Directive No.  05/2003/CM/UEMOA of 26  June 2003).  
6.13.   Additionally, by Decision No. A/DEC.11/12/01 of  21 December  2001, the ECOWAS 
Conference of Heads of State and Government instructed the ECOWAS Executive Secretariat to 
work with the WAEMU Commission and the competent authorities of each member State, to open 
and conduct negotiations leading to an econo mic partnership agreement between West Africa and 
the European Union (EU).  
6.14.   The negotiations with the United States led to the conclusion of an agreement, namely the 
Trade and Investment Framework Agreement (TIFA) signed in April  2002. This is a comprehensi ve 
framework agreement intended to promote and develop trade relations and investment between 
the WAEMU member States and the United States . The basis for the Agreement is the GATT -based 
most-favoured -nation clause ; the Agreement  does not provide for any s pecial tariff preference.  
6.15.   Negotiations are still under way with some of the other countries, namely Morocco, Tunisia, 
Algeria and Egypt.  
6.16.   The negotiations with the European Union concluded on 30  June 2014 in Ouagadougou with 
a joint text that was initialled  by the chief negotiators for West Africa and the European Union . The 
initialled text covers three major issues, namely , the market access  offer, support under the EPA , 
and the text of the agreement essentially geared to trade in goods and other provisions  necessary WT/T PR/G/362 • WAEMU member countries  
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  to implement the EPA . Trade in services and the other trade -related matters will be the subject of 
future negotiations.  
6.17.   The process of signature of the Agreement began in West Africa at the 46th Ordinary Session 
of the Conference of Heads of Sta te and Government of ECOWAS on 15  December  2014 in Abuja, 
Nigeria . To date, 13 of the 16  States have signed . The three remaining countries, which are due to 
sign in the near future, are Nigeria, Gambia and Mauritania.  
6.18.   As a result of these three countries ' failure to sign the West Afric an regional EPA, in 2016 
Côte d' Ivoire and Ghana ratified their Interim EPAs (IEPAs) . The entry into force of the regional 
EPA will cause both IEPAs to lapse.  
6.19.   The eight WAEMU countries are involved in the African Union negotia tions to establish a 
continental free  trade area (CFTA).  
6.20.   The CFTA is an African Union initiative that aims to establish a vast common market for the 
continent 's 54 countries . It will ultimately merge the existing community economic areas.  
6.21.   At the 18th Ordin ary Session of the Conference of Heads of State and Government of the 
African Union held in Addis  Ababa (Ethiopia) in January  2012, the decision was taken to establish a 
Continental Free Trade Area.  
6.22.   With regard to  other partners , the WAEMU member States ar e engaged in negotiations 
within  the Organization of the Islamic Conference ( OIC) to establish a system of trade preferences 
among  the O IC member States . To date, the eight WAEMU States have signed the Framework 
Agreement on the system of trade p referen ces. 
6.3  Cooperation with ECOWAS  
6.23.   The eight WAEMU member States are all members of ECOWAS . The aim of b oth these West 
African regional integration organizations is to develop the economies  of their member States, in 
particular through the establishment of a common  market leading eventually  to economic union.  
6.24.   The process of convergence between WAEMU and ECOWAS has been vigorously propelled  in 
recent years by the convergence and harmonization of the  organizations'  programmes and 
policies . Much progress has been made as a result, including : 
 the adoption and implementation since 1  January  2015 of an ECOWAS CET across the 
15 West African States , an achievement that builds on the success  of the WAEMU CET;  
 improvement of the internal liberalization scheme in West Africa;  
 following the introduction of the ECOWAS CET, coordination between the West African 
States in the forthcoming renegotiations on  bound tariffs in the WTO; 
 the establishment of the joint platform comprising the WAEMU Regional Economic 
Programme (PER) and the ECOWAS Community Development Programme (CDP);  
 the establishment of the legal cooperation framework to remedy or prevent disparities in 
community standards;  
 the construction of juxtaposed control posts  to facilitate trade at border s. 
6.25.   Cooperation with ECOWAS  also extends to joint conduct of the EU -West Africa Economic 
Partnership Agreement (EPA) process , and to coordinated implementation and formulation of 
regional programmes under the 10th and 11th Regional Indicative Programmes of the European 
Development F und (EDF).  WT/T PR/G/362 • WAEMU member countries  
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  6.26.   In short, the development of trade cooperation is a priority for the WAEMU countries 
because it encourages the growth and development of opportunities for products originat ing in the 
Union and allows them to take advantage of  international produ ction networks.  
6.27.   This approach also stems from the member States’ permanent  concern to take full 
advantage of the advantage s offered by international trade liberalization in order to  make  
businesses more competitive and i mprove  the well -being of the ir peopl e. 
6.28.   The development of this trade cooperation will ultimately result in a more predictable 
business environment both for exporting businesses in the region and for foreign investors who 
want to become established in the community area.  
7  CONCLUSION  
7.1.  The reform s undertaken in the WAEMU area in recent years aim to achieve economic 
liberalization and the emergence of a buoyant private sector . Specifically, they will help to increase 
and diversify the range of the exportable supply in goods and services by bringing  about, among 
other things : 
 greater  transparency and predictability in trade transactions and cross -border transport;  
 more efficient coordination in the management of trade -related structures and 
procedures;  
 improvements to trade facilitation practices;  
 modernization of the national customs administrations;  
 improvements to competition in the Union market and better  administration of 
competition rules;  
 the development of trade cooperation through rel evant and  functional trade and 
investment agreements.  
7.2.  WAEMU  intends to maintain, continue and consolidate this process by adapting its regulatory 
texts to the regional and international economic environment.  
7.3.  Additionally, the countries have introduced democratic process, rule of law and good 
governance with a view  to pursuing  and strengthening structural reforms to achieve  sustainable 
economic growth and development.  
7.4.  The WAEMU States are, and will continue to be, very active in strengthening regional 
integration in West Africa and fully intend to fulfil their oblig ations within the multilateral trading 
system.  
7.5.  However, the countries ' development  level and  specific economic and social needs are a 
constraint on their ability to  fulfil this commitment to openness . 
7.6.  If their technical assistance requirements continue to  be taken care of and built on by the 
international community , the WAEMU countries will be able to remove certain production and 
promotion constraints and as a result facilitate their integration into the world economy, where the 
trend is towards globaliza tion. 
7.7.  The WAEMU States believe in the multilateral trading system and consider trade to be a 
factor in sustainable development . They intend to further increase their participation in 
international trade . To attain these objectives, the WAEMU countries will  seek to act in cooperation 
with their multilateral trading partners and the WTO to achieve the following:  
 enhanced  technical cooperation through national and regional workshops and seminars 
with a view to acquiring a better understanding of the multilater al trade agreements;  WT/T PR/G/362 • WAEMU member countries  
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   greater support for the Integrated Framework, and extension of that support to regional 
projects, in order to enhance and diversify supplies of goods and services;  
 implementation of the WTO Agreements, especially the Agreement on Trade  Facilitation 
that entered into force on 22  February  2017;  
 greater fairness in international trade through the elimination of unfair trade practices, in 
particular the use of unjustified subsidies and technical barriers to trade;  
 increased capacity of huma n resources as a result of training for trade stakeholders . 
7.8.  Specific technical assistance needs by country and region are set out in the table in the 
Annex.  
Table 7.1 Specific technical assistance needs by cou ntry 
Country  Specific needs  
Benin  Capacity  building in SPS- and TBT -related matters , WTO dispute settlement system, trade 
remedy actions, WTO notification obligations for the benefit of government departments  
Capacity  building to complete the shift to p aperless external trade documents and 
paperless customs clearance  
Burkina Faso  Capacity  building in SPS - and TBT -related matters, WTO dispute settlement system, trade 
remedy actions, WTO notification obligations for the benefit of government departments  
Technical assistance to implement the ATF  
Technical assistance to economic operators in order to help them better manage SPS - and 
TBT-related matters, and tariff and non -tariff measures  
Côte d 'Ivoire  Customs : technical assistance to connect IT systems between Burkina  Faso and Mali and 
electronic payment  
Environmental services : technical assistance for e -commerce ; liberalization in  
environmental and tourism -related services  
Ivorian Intellectual Property Office (OIPI) : technical assistance to combat piracy and 
counterfeiting in the community area  
Transport : application to  WAEMU for support for Côte d'Ivoire  by establishing a transport 
facilitation programme  
Ministry of Trade:  
˗ Technical assistance to implement Category  C meas ures in connection with  the 
WTO Agreement on Trade Facilitation.  
˗ Technical assistance to renegotiate bound tariffs following the shift to the ECOWAS CET.  
˗ Technical assistance to refurbish the reference centre on the multilateral and regional 
trading system.  
Ministry of Animal and Fisheries Resources  
Aid to finance the Regional Livestock Breeding Investment Programme in Coastal 
Countries (PRIDEC)  
Guinea -Bissau  Capacity  building in SPS - and TBT -related matters, WTO dispute settlement system, trade 
remedy actions, WTO notificatio n obligations for the benefit of government departments  
Capacity  building to complete the shift to paperless external trade documents and 
paperless customs clearance  
Mali Capacity  building to complete the shift to paperless external trade documents and 
paperless customs clearance  
Laboratory accreditation : National Health Laboratory (LNS), Central Veterinary Laboratory 
(LCV) and certification of our national production processes  
Support for use of bar codes in our national industries  
Capacity  buildi ng for members of the National Trade Negotiation Commission in 
multilateral WTO agreements and other matters under negotiation at the WTO  
Harness resources to implement Category  C projects in the ATF framework and to build 
institutional capacity at the E xternal Trade Directorate with a view to implementing the 
WTO agreements  
Elimination of non -tariff measures, including those concerning SPS, red tape, and any 
other s in order to make our products  more competitive while complying with international 
stand ards  
Niger  Step up the Training Programme for the Master 's Degree  in Trade and International 
Arbitration by training lecturers at the Université de Sciences Juridiques et Politiques de 
Bamako, founding a library and WTO Chair, building the capacity of th e "markets and 
organizations " research centre  
Capacity  building to complete the shift to paperless external trade documents and 
paperless customs clearance  WT/T PR/G/362 • WAEMU member countries  
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  Country  Specific needs  
Senegal  Support to implement trade agreements  
Support with managing the rules of the multilater al trading system  
Support to implement and evaluate WTO agreements  
Statistics on trade in services  
Capacity  building for trade department officials  
Support for better participation in trade negotiations  
Togo Support to implement trade agreements  
Step up aid-for-trade finance  
WAEMU  Mastering  the mechanisms and rules of the multilateral trading system  
Support for implementation of ATF measures  
Statistics on trade in services  
Capacity  building in phytosanitary, animal health, and food safety  matters  
 
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