Wp/gpe/African Economic Community
De African Economic Community (AEC) bi an organization of African Union states wey dem establish common grounds say dem go do mutual economic development among demma majority of African states. Demma 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.
Pillars
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 demma member states. Sake of dis high proportion of overlap ebi 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 demma own:
Dese pillars den demma 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)
|
Intergovernmental Authority on Development (IGAD) | |
Southern African Development Community (SADC) | Southern African Customs Union (SACU) |
Arab Maghreb Union (UMA) |
Pillar membership
CEN-SAD |
---|
Founding states (1998):
Joined later:
|
COMESA |
---|
Founding states (1994)
Joined later:
Former members:
|
EAC |
---|
Founding states (2001):
Joined later: 2007: Burundi 2007: Rwanda 2016: South Sudan 2022: Democratic Republic of Congo |
ECOWAS |
---|
Founding states (1975):
Joined later:
Former member:
|
ECCAS |
---|
Founding states (1985):
|
IGAD |
---|
Founding states (1986):
Joined later:
|
SADC |
---|
Founding states (1980):
joined later:
|
UMA |
---|
Founding states (1989):
|
Other blocs
Other African regional blocs no dey participate insyd de AEC framework (plenty of dem predate AEC), dem bi:
- 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)
Demma membership dey follow:
GAFTA |
---|
2005 membership:
Joined later:
|
CEPGL |
---|
1976 membership:
|
COI |
---|
1984 membership:
|
LGA |
---|
1970 membership:
|
MRU |
---|
1973 membership:
Joined later:
|
Goals
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 demma 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) and Parliament
- End of all demma transition periods: 2034 at de latest
Stages progress
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: