African Economic Community

From Wikipedia
African Economic Community
international organization
Inception1991 Edit
Parent organizationAfrican Union Edit

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.

Pillars[edit | edit source]

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)

Pillar membership[edit | edit source]

Founding states (1998):

Join later:

Founding states (1994)

Joined later:

  • 1999: Egypt
  • 2001:Seychelles
  • 2006: Libya
  • 2018: Tunisia
  • 2018: Somalia

Former members:

Founding states (2001):
  • Kenya
  • Tanzania
  • Uganda

Joined later:

2007: Burundi

2007: Rwanda

2016: South Sudan

2022: Democratic Republic of Congo

Founding states (1975):
  • Benin
  • Burkina Faso
  • Ivory Coast
  • Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Liberia
  • Mali
  • Niger
  • Nigeria
  • Senegal
  • Sierra Leone
  • Togo

Joined later:

  • 1976: Cape Verde

Former member:

  • 1975-2002: Mauritania
Founding states (1985):
  • Burundi
  • Cameroon
  • Central African Republic
  • Chad
  • Congo
  • DR Congo
  • Equatorial Guinea
  • Gabon
  • Rwanda
  • São Tomé and Príncipe
Founding states (1986):
  • Djibouti
  • Ethiopia
  • Kenya
  • Somalia
  • Sudan
  • Uganda

Joined later:

  • 1993: Eritrea
  • 2011: South Sudan
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
Founding states (1989):
  • Algeria
  • Libya
  • Mauritania
  • Morocco
  • Tunisia

Other blocs[edit | edit source]

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:

2005 membership:
  • Egypt
  • Libya
  • Morocco
  • Sudan
  • Tunisia

Joined later:

  • 2009: Algeria
1976 membership:
  • Burundi
  • DR Congo
  • Rwanda
1984 membership:
  • Comoros
  • Madagascar
  • Mauritius
  • Seychelle
1970 membership:
  • Burkina Faso
  • Mali
  • Niger
1973 membership:
  • Liberia
  • Sierra Leone

Joined later:

  • 1980:  Guinea
  • 2008:  Ivory Coast

Goals[edit | edit source]

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:

  1. (complete am insyd 1999) Creation of regional blocs insyd regions wey such no dey exist
  2. (complete am insyd 2007) Strengthening dema intra-REC integration den inter-REC harmonisation
  3. (complete am insyd 2021) Establish free trade area den customs union insyd each regional bloc
  4. (dem go complete am insyd 2023) Establish continent-wide customs union (den san do free trade area)
  5. (dem go complete am insyd 2025) Establish continent-wide African Common Market (ACM)
  6. (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

Stages progress[edit | edit source]

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:

References[edit | edit source]

  1. "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.
  2. "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.