I managed to resolve this by doing the following steps.
I logged in into facebook. I navigated to my business page catalog manager
https://business.facebook.com/commerce_manager/?source=CATALOG_MANAGER_LANDING_PAGE
If there is already a catalog created by trying to connect woocommerce with facebook through your sites plugin, then delete the catalog, and create one by the the facebook’s catalog page (attached url above).
https://pasteboard.co/JKf5Yeq.png
Once you click new catalog, select the type of your catalog and then press next. Next, select the e-commerce platform as you see from the following screen
https://pasteboard.co/JKf6sEZ.png
and type the name below on the field catalog owner and press finish setup.
Then a zip file is downloaded (it is facebook woocommerce plugin parameterized based on the settings you chose). Next go to your site and go to update the plugin to your site. Once you upload it, go to plugins settings and connect with facebook.
You are ready.
