In: Economics
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?
QUESTION 1
The following are the stated aims of ASEAN:
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)