African Economic Community
international organization
Year dem found am
| 1991
|
---|
Parent organization
| African Union
|
---|
De
African Economic Community
(
AEC
) be organization of
African Union
states wey dem establish common grounds say dem go do mutual economic development among dema majority of African states. Dema goals dey include de creation of free trade areas, customs unions, a single market, a central bank, den common currency (see African Monetary Union) thus as dem establish an economic den monetary union.
Currently dem get multiple regional blocs insyd Africa, dem san know dem as Regional Economic Communities (RECs), many of which gey overlapping memberships. De RECs dey consist primarily of trade blocs den, in some cases, some political den military cooperation. Most of dese RECs form de "pillars" of AEC, plenty of dem san gey overlap for dema member states. Secof dis high proportion of overlap ebe likely say some states plus several memberships go eventually drop out of one or more RECs. Several of dese pillars san dey contain subgroups plus tighter customs den /or monetary unions for dema own:
Dese pillars den dema corresponding subgroups dey follow:
Pillars
|
Subgroups
|
Community of Sahel-Saharan States (CEN-SAD)
|
|
Common Market for Eastern and Southern Africa (COMESA)
|
|
East African Community (EAC)
|
|
Economic Community of Central African States (ECCAS/CEEAC)
|
Economic and Monetary Community of Central Africa (CEMAC)
|
Economic Community of West African States
(ECOWAS)
|
West African Economic and Monetary Union (UEMOA)
West African Monetary Zone (WAMZ)
|
Intergovernmental Authority on Development (IGAD)
|
|
Southern African Development Community (SADC)
|
Southern African Customs Union (SACU)
|
Arab Maghreb Union (UMA)
|
|
CEN-SAD
|
Founding states (1998):
Join later:
|
COMESA
|
Founding states (1994)
Joined later:
- 1999: Egypt
- 2001:
Seychelles
- 2006: Libya
- 2018: Tunisia
- 2018: Somalia
Former members:
|
EAC
|
Founding states (2001):
Joined later:
2007: Burundi
2007: Rwanda
2016:
South Sudan
2022: Democratic Republic of Congo
|
ECOWAS
|
Founding states (1975):
- Benin
- Burkina Faso
- Ivory Coast
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Joined later:
Former member:
|
ECCAS
|
Founding states (1985):
- Burundi
- Cameroon
- Central African Republic
- Chad
- Congo
- DR Congo
- Equatorial Guinea
- Gabon
- Rwanda
- Sao Tome and Principe
|
IGAD
|
Founding states (1986):
- Djibouti
- Ethiopia
- Kenya
- Somalia
- Sudan
- Uganda
Joined later:
- 1993: Eritrea
- 2011: South Sudan
|
SADC
|
Founding states (1980):
- Angola
- Botswana
- Lesotho
- Malawi
- Mozambique
- Eswatini
- Tanzania
- Zambia
- Zimbabwe
joined later:
- 1990: Namibia
- 1990: South Africa
- 1995: Mauritius
- 1997: DR Congo
- 1997: Seychelles
withdrawn 2004-2007
- 2000: Madagascar
|
UMA
|
Founding states (1989):
- Algeria
- Libya
- Mauritania
- Morocco
- Tunisia
|
Other African regional blocs no dey participate insyd de AEC framework (plenty of dem predate AEC), dem be:
- Greater Arab Free Trade Area (GAFTA) (an organization wey most Middle Eastern states, including dose outside Africa)
- Economic Community of the Great Lakes Countries (CEPGL)
- Indian Ocean Commission (COI)
- Liptako-Gourma Authority (LGA)
- Mano River Union (MRU)
Dema membership dey follow:
GAFTA
|
2005 membership:
- Egypt
- Libya
- Morocco
- Sudan
- Tunisia
Joined later:
|
COI
|
1984 membership:
- Comoros
- Madagascar
- Mauritius
- Seychelle
|
MRU
|
1973 membership:
Joined later:
- 1980: Guinea
- 2008: Ivory Coast
|
De AEC dem found am through de Abuja Treaty wey dem sign insyd 1991 den enter into force insyd 1994 dey envision say dem go create insyd six stages:
- (complete am insyd 1999) Creation of regional blocs insyd regions wey such no dey exist
- (complete am insyd 2007) Strengthening dema intra-REC integration den inter-REC harmonisation
- (complete am insyd 2021) Establish free trade area den customs union insyd each regional bloc
- (dem go complete am insyd 2023) Establish continent-wide customs union (den san do free trade area)
- (dem go complete am insyd 2025) Establish continent-wide
African Common Market
(ACM)
- (dem go complete am insyd 2028) Establish continent-wide economic den monetary union (den san do currency union) den Parliament
- End of all dema transition periods: 2034 at de latest
as of September 2007
- Stage 1:
Complete am
, only Arab Maghreb Union members den Sahrawi Republic no dey participate. Somalia dey participate, buh dem no practical implement am yet.
- Stage 2: Steady progress, nothing factual dey for we to check.
- Stage 3:
- ↑
"SADC, COMESA and the EAC: Conflicting regional and trade agendas"
. Institute for Global Dialogue. October 2008. Archived from
the original
on 1 January 2017. Retrieved 7 May 2011.
- ↑
"African integration is great but has its hurdles"
. New Vision. 26 May 2010. Archived from
the original
on 19 June 2010. Retrieved 7 May 2011.