Following the inaugural session of The Gambia-Senegal Economic, Trade, and Investment Forum on Thursday, October 26, 2023, The Gambia Investment and Export Promotion Agency (GiEPA) and the National Agency for the Promotion of Investments and Major Works (APIX-S.A) in Dakar, came together to formalize their commitment through a Memorandum of Understanding (MoU). Simultaneously, another MoU was signed by The Gambia Transport Service Company (GTSC) and Dakar Dem Dikk, with the shared objective of strengthening collaborative trade and industrial partnerships between The Gambia and Senegal.
His Excellency Mohammed B.S Jallow, the Vice President of The Gambia, stressed the importance of translating these agreements into tangible actions to achieve the desired expansion of trade and investment. He emphasized that the consistent and persistent implementation of the various MoUs by the respective institutions is vital as it would contribute to enhancing and diversifying export performance and improving transportation infrastructure across land, air, and sea routes in the Senegambia region through joint investments and infrastructure projects.
Vice President Jallow also expressed his excitement about the potential of establishing joint economic zones in strategic locations and collaborative investment initiatives that would attract much-needed foreign direct investment (FDI) while enhancing trade infrastructure along key trade and transit routes.
He further elaborated, saying, "Trade in goods is an important component of bilateral integration. But let’s not forget to include provisions on liberalizing services including financial investment, protecting intellectual property rights, labour and environmental standards, as well as dispute resolution mechanism to ensure that issues and bottlenecks can be swiftly addressed".
The MoUs signed at this event represent a significant step toward the realization of shared economic goals, fostering cooperation and synergy between the sister nations of The Gambia and Senegal. It signifies a commitment to a brighter future of trade and economic development in the Senegambian region.
