Question

In: Economics

Economic Community of West African States (ECOWAS) The Economic Community of West African States (ECOWAS) was...

Economic Community of West African States (ECOWAS)
The Economic Community of West African States (ECOWAS) was formed in 1975 but its efforts at
economic integration were restarted in 1992 because of a Jack of early progress. The most important
goals of ECOWAS (www.ecowas.int) include the formation of a customs union, an eventual
common market, and a monetary union. The ECOWAS nations comprise a large portion of the
economic activity in sub-Saharan Africa, but progress on market integration is almost nonexistent.
In fact, the value of trade occurring among ECOWAS nations is just 11 percent of the value that the
trade members undertake with third parties. But ECOWAS made progress in the free movement of
people, construction of international roads, and development of international telecommunication
links. Some of its main problems are due to political instabi lity, poor governance, weak national
economies, poor infrastructure, and poor economic policies.
African Union (AU)
A group of 55 nations on the African continent j oined forces in 2002 to create the African Union
(AU). Heads of state of the nations belonging to the Organization of African Unity paved the way
for the AU (w,v,v.au.i nt.en/) when they signed the Sirte Declaration in 1999.
The AU is based on the vision of a united and strong Africa and on the need to build a partnership
among governments and all segments of civil society in order to strengthen cohesion among
the peoples of Africa. Its ambitious goals are to promote peace, security, and stability across Africa
and to accelerate economic and political integration while addressing problems compounded by
globalization. Specifical ly, the stated aims of the AU are to ( I) rid the continent of the remaining
vestiges of colonialism and apartheid, (2) promote unity and solidarity among African states, (3)
coordinate and intensify cooperation for development, (4) safeguard the sovereignty and territorial
integrity of members, and (5) promote international cooperation withi n the framework of the
United Nations. Although it is too early to judge the success of the AU, there is no shortage of
opportunities for it to demonstrate its capabilities.
QUICK STUDY 4
I. What are the stated aims of the Association of Southeast Asian Nations (ASEAN)?
2. The stated aim of which organization is not to build a trading bloc but instead to strengthen
the multilateral trading system?
3. What is the name of the grouping of 55 nations across the continent of Africa?

Solutions

Expert Solution

QUESTION 1

The following are the stated aims of ASEAN:

  1. To accelerate the economic growth, social progress and cultural development in the region through joint endeavours in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community of Southeast Asian Nations;
  2. To promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries of the region and adherence to the principles of the United Nations Charter;
  3. To promote active collaboration and mutual assistance on matters of common interest in the economic, social, cultural, technical, scientific and administrative fields;
  4. To provide assistance to each other in the form of training and research facilities in the educational, professional, technical and administrative spheres;
  5. To collaborate more effectively for the greater utilisation of their agriculture and industries, the expansion of their trade, including the study of the problems of international commodity trade, the improvement of their transportation and communications facilities and the raising of the living standards of their peoples;
  6. To promote Southeast Asian studies; and

To maintain close and beneficial cooperation with existing international and regional organisations with similar aims and purposes, and explore all avenues for even closer cooperation among themselves.

QUESTION 2

Economic Community of West African States (ECOWAS)

QUESTION 3

African Union (AU)


Related Solutions

What is the Economic Community of West African State ( ECOWAS), it functions and purpose.
What is the Economic Community of West African State ( ECOWAS), it functions and purpose.
Write a three page paper on the Economic Community of West African State ( ECOWAS) trade...
Write a three page paper on the Economic Community of West African State ( ECOWAS) trade agreement
What were the most important economic, political, and cultural aspects of West African society? In what...
What were the most important economic, political, and cultural aspects of West African society? In what ways did geography impact cultural differences among West African civilizations?
How has sstructural discrimination in regards to African Americans in the United States inhibited economic growth
How has sstructural discrimination in regards to African Americans in the United States inhibited economic growth
financial community in the United States
The financial community in the United States has become increasingly concerned with the quality of reported company earnings.Required:1. Define the term earnings quality.2. Explain the distinction between permanent and transitory earnings as it relates to the concept of earnings quality.3. How do earnings management practices affect the quality of earnings?4. Assume that a manufacturing company's annual income statement included a large gain from the sale of investment securities. What factors would you consider in determining whether or not this gain...
Discuss the cultural significance of playing the dozens in African-American community
Discuss the cultural significance of playing the dozens in African-American community
A community living on an island off the west coast of Scotland is interested in meeting...
A community living on an island off the west coast of Scotland is interested in meeting its electricity needs using marine renewable energy. Critique the standard approach for assessing the resource potential of wave power around the island, as included in the course notes. Include in your answer the main assumptions of the approach, its limitations and suggestions for improving its accuracy. [
You have conducted Community Needs Assessment (Community Diagnosis) in Sunyani West District. After prioritizing the problems...
You have conducted Community Needs Assessment (Community Diagnosis) in Sunyani West District. After prioritizing the problems with the community members, high HIV prevalence rate of 2.5% became a priority health problem in the community. You went further to conduct Knowledge, Attitude and Practice (KAP) study on HIV/AIDS in the district. Now you intend to prepare a one-year Health Promotion Programme to tackle the problem. As part of the planning process and based on some assumptions of findings in your KAP...
The major contribution of West Indians in America is their role in the African American struggle for liberty, equality and justice
Demonstrate through the activities of the "Radicals" and the concept of "Group Soul" how this is indeed the case.     
Suppose that the Gross National Income (GNI) per capita for Benin was about 475,000 West African...
Suppose that the Gross National Income (GNI) per capita for Benin was about 475,000 West African Frank (XOF) in 2020. People in Benin, on average, spend 55% of their income on food. Answer the following questions while considering the exchange rate is 1USD = 600XOF. (Hint: GNI is defined as the total amount of money earned by a nation's people and businesses.) 10. What is the dollar value of annual food and non-food expenditure for an individual in Benin in...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT