WAEMU plans to create regional label for its oleaginous sector

Thursday, 06 December 2018 17:16
WAEMU plans to create regional label for its oleaginous sector

(Togo First) - Last Wednesday in Lomé, the 18th general assembly of the association of industrial players of oleaginous sector across the West African Economic and Monetary Union (AIFO-Uemoa) was held. On this occasion, participants discussed new challenges rising due to the “Asian unfair competition” in the regional market.  

To tackle this issue, the association’s first vice-chairman also MD of Palmci (Côte d’Ivoire), Christophe Koreki, recommends the creation of a regional label. This would according to him help deal with the issues of commodity unavailability, competitiveness, low local output, or importation of Asian oil.

Thierry Awesso, second vice-chairman of the association and MD of the Nouvelle Industrie des Oléagineux du Togo (NIOTO), said that while Togo’s demand is estimated at around 40,000 tons, its output barely reaches 5,000 tons. Therefore, most of the demand is met with Asian imports. Awesso indicats that the imports do not respect tax, customs, health and quality standards.

He thus urged competent authorities to respond accordingly. “To improve our trade environment, we must urgently take necessary actions,” he declared.

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