Ghana and other West African countries have been asked to eliminate several bottlenecks that have hindered trade in the sub-region and affected the growth of their economics. Several factors such as stringent exchange controls, poor infrastructure and interconnectivity, numerous checkpoints on major highways in member countries and lack of regional integration have hampered trade in West Africa. Trade among countries in West Africa registered 10 percent while that of Europe and Asia stands at 70 and 47 percent respectively. To this effect, Gabriel Edgal, Managing Director/Chief Executive Officer of the United Bank for Africa (UBA) Ghana Limited has urged governments in the sub-region to work together to streamline tariff imposition, enhance transportation and infrastructure to make trading comfortable in the sub-region. Speaking at the maiden Chief Executive's Business Breakfast Forum organized by his outfit yesterday, Mr. Edgal noted that several fora have been organized to promote regional integration, saying leaders in West Africa would have to take immediate action to stimulate trade in the region. He suggested that currencies used by ECOWAS member states should remain exchangeable across the sub-region explaining that Central Banks or the respective countries should ensure that formal trade is conducted within the banking system. UBA has already taken the lead by launching Africash and Afritrade to facilitate trade on the continent. Africash is a service platform that enables payment and receipt of funds across UBA’s branches in Africa, while Afritrade is a service platform that enables companies to export and import goods from African countries with case. Hannah Tetteh, Minister of Trade and Industry who was the guest speaker at the event, said ECOWAS, as an organization, has not succeeded in promoting regional trade, saying the ECOWAS must do more to boost trade and grow economies of the member countries. "Indeed, a lot more needs to be done to develop road infrastructure linking critical areas,” she added. She emphasized that government would accept the comments of the private sector if necessary since the private sector is key to the growth of this country. The event was attended by CEOs from the private sector and some economists. Source: Daily Guide