African Economic Community

The African Economic Community (AEC) is an organization of African Union states establishing grounds for mutual economic development among the majority of African states. The stated goals of the organization include the creation of free trade areas, customs unions, a single market, a central bank, and a common currency (see African Monetary Union) thus establishing an economic and monetary union.

Members of the African Union.

Pillars

Currently there are multiple regional blocs in Africa, also known as Regional Economic Communities (RECs), many of which have overlapping memberships. The RECs consist primarily of trade blocs and, in some cases, some political and military cooperation. Most of these RECs form the "pillars" of AEC, many of which also have an overlap in some of their member states. Due to this high proportion of overlap it is likely that some states with several memberships will eventually drop out of one or more RECs. Several of these pillars also contain subgroups with tighter customs and/or monetary unions of their own:

These pillars and their corresponding subgroups are as follows:

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

CEN-SAD
Founding states (1998): Burkina Faso Chad Libya Mali Niger Sudan Joined later: 1999: Central African Republic 1999: Eritrea 2000: Djibouti 2000: Gambia 2000: Senegal 2001: Egypt 2001: Morocco 2001: Nigeria 2001: Somalia 2001: Tunisia 2002: Benin 2002: Togo 2004: Ivory Coast 2004: Guinea-Bissau 2004: Liberia 2005: Ghana 2005: Sierra Leone 2007: Comoros 2007: Guinea 2008: Kenya 2008: Mauritania 2008: São Tomé and Príncipe

COMESA
Founding states (1994): Burundi Comoros DR Congo Djibouti Eritrea Ethiopia Kenya Madagascar Malawi Mauritius Rwanda Sudan Eswatini Uganda Zambia Zimbabwe Joined later: 1999: Egypt 2001: Seychelles 2006: Libya 2018: Tunisia 2018: Somalia
Former members: 1994-1997: Lesotho 1994-1997: Mozambique 1994-2000: Tanzania 1994-2004: Namibia 1994-2007: Angola[1][2]

ECOWAS
Founding states (1975): Benin ^UEMOA-94 Burkina Faso ^UEMOA-94 Ivory Coast ^UEMOA-94 Gambia ^WAMZ-00 Ghana ^WAMZ-00 Guinea ^WAMZ-00 Guinea-Bissau ^UEMOA-97 Liberia ^WAMZ-10 Mali ^UEMOA-94 Niger ^UEMOA-94 Nigeria ^WAMZ-00 Senegal ^UEMOA-94 Sierra Leone ^WAMZ-00 Togo ^UEMOA-94 Joined later: 1976: Cape Verde
Former members: 1975-2002: Mauritania
UEMOA-94: UEMOA state from 1994 UEMOA-97: UEMOA state from 1997 WAMZ-00: WAMZ state from 2000 WAMZ-10: WAMZ state from 2010

EAC
Founding states (2001): Kenya Tanzania Uganda Joined later: 2007: Burundi 2007: Rwanda 2016: South Sudan

ECCAS
Founding states (1985): Burundi Cameroon ^CEMAC-99 Central African Republic ^CEMAC-99 Chad ^CEMAC-99 Congo ^CEMAC-99 DR Congo Equatorial Guinea ^CEMAC-99 Gabon ^CEMAC-99 Rwanda ^{withdrawn 2007[1]-2016[3]} São Tomé and Príncipe Joined later: 1999: Angola
CEMAC-99: CEMAC state from 1999

SADC
Founding states (1980): Angola Botswana ^SACU-70 Lesotho ^SACU-70 Malawi Mozambique Eswatini ^SACU-70 Tanzania Zambia Zimbabwe Joined later: 1990: Namibia ^SACU-90 1990: South Africa ^SACU-70 1995: Mauritius 1997: DR Congo 1997: Seychelles ^{withdrawn 2004-2007} 2005: Madagascar
SACU-70: SACU state from 1970 SACU-90: SACU state from 1990

IGAD
Founding states (1986): Djibouti Ethiopia Kenya Somalia Sudan Uganda Joined later: 1993: Eritrea 2011: South Sudan

UMA ¹
Founding states (1989): Algeria Libya Mauritania Morocco Tunisia

member states; year of joining

member states; year of joining; cooperation in the framework of the bloc stalled

candidate states; year of application

¹ The Arab Maghreb Union does not participate in the AEC so far, because of opposition by Morocco

Euler diagram showing the relationships among various multinational African entities v • t • e

REC pillars of the African Economic Community.

CEN-SAD

COMESA

EAC

ECCAS

ECOWAS

IGAD

SADC

UMA

Active REC pillars of the African Economic Community.

COMESA

EAC

ECCAS

ECOWAS

SADC

Other blocs

Other trade blocs in Africa not part of the African Economic Community.

GAFTA

CEPGL

COI

LGA

MRU

Other African regional blocs, not participating in the AEC (their members can be part of other regional blocs which do participate), are the following.

Greater Arab Free Trade Area (GAFTA) (also includes most Middle Eastern states)
Economic Community of the Great Lakes Countries (CEPGL)
Indian Ocean Commission (COI)
Liptako-Gourma Authority (LGA)
Mano River Union (MRU)

Their membership is as follows:

GAFTA ¹	CEPGL	COI	LGA	MRU
2005 membership: Egypt Libya Morocco Sudan Tunisia Joined later: 2009: Algeria	1976 membership: Burundi DR Congo Rwanda	1984 membership: Comoros Madagascar Mauritius Seychelles	1970 membership: Burkina Faso Mali Niger	1973 membership: Liberia Sierra Leone Joined later: 1980: Guinea 2008: Côte d'Ivoire

¹ Only African GAFTA members are listed.
GAFTA and MRU are the only blocs not currently stalled.

Goals

The AEC founded through the Abuja Treaty, signed in 1991 and entered into force in 1994 is envisioned to be created in six stages:

(to be completed in 1999) Creation of regional blocs in regions where such do not yet exist
(to be completed in 2007) Strengthening of intra-REC integration and inter-REC harmonisation
(to be completed in 2017) Establishing of a free trade area and customs union in each regional bloc
(to be completed in 2019) Establishing of a continent-wide customs union (and thus also a free trade area)
(to be completed in 2023) Establishing of a continent-wide African Common Market (ACM)
(to be completed in 2028) Establishing of a continent-wide economic and monetary union (and thus also a currency union) and Parliament

End of all transition periods: 2034 at the latest

Stages progress

as of September 2007

Stage 1: Completed, only Arab Maghreb Union members and Sahrawi Republic not participating. Somalia is participating, but no practical implementation yet.
Stage 2: Steady progress, nothing factual to check.
Stage 3:

	Regional blocs - pillars of the African Economic Community (AEC)
Activity	CEN-SAD	COMESA	EAC	ECCAS		ECOWAS			IGAD	SADC		UMA
Activity	CEN-SAD	COMESA	EAC	CEMAC	Common	UEMOA	WAMZ	Common	IGAD	SACU	Common	UMA
Free Trade Area	stalled	progressing ¹	fully in force	fully in force	proposed for 2007 ?	fully in force		proposed	stalled	fully in force	progressing ²	stalled
Customs Union	stalled	proposed for 2008	fully in force	fully in force	proposed for 2011 ?	fully in force		proposed for 2007	stalled	fully in force	proposed for 2010	stalled

¹ Members not yet participating: DR Congo (in talks to join), Eritrea, Ethiopia, Seychelles (in talks to join), Swaziland (on derogation until SACU gives permission for Swaziland to join the FTA), Uganda (to join very soon)
² Members not yet participating: Angola, DR Congo, Seychelles

Stage 4: In March 2018, 49 African countries signed the African Continental Free Trade Agreement paving the way for a continent-wide free trade area. The continental free trade area became operational in July 2019, after 22 ratifications.[4][5] As of 2020, 28 signataries have effectively become parties of the treaty.
Stage 5: no progress yet
Stage 6: no progress yet

Overall progress

		Activities
Regional bloc		Free Trade Area	Economic and monetary union			Free Travel		Political pact	Defence pact
Regional bloc		Free Trade Area	Customs Union	Single Market	Currency Union	Visa-free	Border-less	Political pact	Defence pact
AEC		Partially In Force	proposed for 2019	proposed for 2023	proposed for 2028	proposed for 2020	proposed for 2020	proposed for 2028	proposed for 2028
CEN-SAD		proposed for 2010
COMESA		in force ¹	proposed for 2008	?	proposed for 2018
EAC		in force	in force	proposed for 2015	proposed for 2024	proposed for 2018[6]	?	proposed for 2023
ECCAS	CEMAC	in force	in force	?	in force
ECCAS	Common	proposed for 2007 ?	proposed for 2011 ?	proposed	proposed	proposed	?		in force
ECOWAS	UEMOA	in force	in force	proposed[7]	in force
	WAMZ			?	proposed for 2012
	Common	proposed ²	proposed for 2007	proposed[8]	proposed	in force ¹	proposed	proposed	in force
IGAD
SADC	SACU	in force	in force		de facto in force ¹	?
SADC	Common	proposed for 2008 ³	proposed for 2010	proposed for 2015	proposed for 2016
UMA

¹ not all members participating yet
² telecommunications, transport and energy - proposed
³ sensitive goods to be covered from 2012

African Economic Community
Pillars regional blocs (REC)¹	Area (km²)	Population	GDP (PPP) ($US)		Member states
Pillars regional blocs (REC)¹	Area (km²)	Population	in millions	per capita	Member states
AEC	29,910,442	853,520,010	2,053,706	2,406	54
ECOWAS	5,112,903	349,154,000	1,322,452	3,888	15
ECCAS	6,667,421	121,245,958	175,928	1,451	11
SADC	9,882,959	233,944,179	737,335	3,152	15
EAC	2,440,409	169,519,847	411,813	2,429	6
COMESA	12,873,957	406,102,471	735,599	1,811	20
IGAD	5,233,604	187,969,775	225,049	1,197	7
Other African blocs	Area (km²)	Population	GDP (PPP) ($US)		Member states
Other African blocs	Area (km²)	Population	in millions	per capita	Member states
CEMAC ²	3,020,142	34,970,529	85,136	2,435	6
SACU	2,693,418	51,055,878	541,433	10,605	5
UEMOA ¹	3,505,375	80,865,222	101,640	1,257	8
UMA ²	5,782,140	84,185,073	491,276	5,836	5
GAFTA ³	5,876,960	166,259,603	635,450	3,822	5
¹ Economic bloc inside a pillar REC ² Proposed for pillar REC, but objecting participation ³ Non-African members of GAFTA are excluded from figures smallest value among the blocs compared largest value among the blocs compared During 2004. Source: CIA World Factbook 2005, IMF WEO Database

African Free Trade Zone

The African Free Trade Zone (AFTZ) was announced on Wednesday October 22, 2008 by the heads of Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC).

In May 2012 the idea was extended to also include ECOWAS, ECCAS and AMU.[9]

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gollark: NOTHING IS OCTAGONS

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References

"SADC, COMESA and the EAC: Conflicting regional and trade agendas". Institute for Global Dialogue. October 2008. 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.
Mugisha, Ivan R. (2010-08-20). "Rwanda back to Central Africa bloc, 10 years on". theeastafrican.co.ke. Retrieved 2017-10-04.
Kede, Shoshana (2 April 2019). "Africa free trade agreement gets last ratification from Gambia". AfricanBusinessMagazine.com. Retrieved 2 April 2019.
"AfCFTA Agreement secures minimum threshold of 22 ratification as Sierra Leone and the Saharawi Republic deposit instruments". African Union. 29 April 2019. Retrieved 11 August 2020.
Ligami, Christabel (2017-04-17). "East Africa e-passports to be issued in 2018". theeastafrican.co.ke. Retrieved 2017-10-04.
WT/COMTD/N/11 Archived 2009-03-25 at the Wayback Machine
WT/COMTD/N/21 Archived 2009-03-27 at the Wayback Machine
Africa free trade zone in operation by 2018

Sources

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.

[GlobalDialogue-1] "SADC, COMESA and the EAC: Conflicting regional and trade agendas". Institute for Global Dialogue. October 2008. Retrieved 7 May 2011.

[NewVision-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.

[TheEastAfrican2-3] Mugisha, Ivan R. (2010-08-20). "Rwanda back to Central Africa bloc, 10 years on". theeastafrican.co.ke. Retrieved 2017-10-04.

[AfricanBusiness-4] Kede, Shoshana (2 April 2019). "Africa free trade agreement gets last ratification from Gambia". AfricanBusinessMagazine.com. Retrieved 2 April 2019.

[AUInt-5] "AfCFTA Agreement secures minimum threshold of 22 ratification as Sierra Leone and the Saharawi Republic deposit instruments". African Union. 29 April 2019. Retrieved 11 August 2020.

[TheEastAfrican-6] Ligami, Christabel (2017-04-17). "East Africa e-passports to be issued in 2018". theeastafrican.co.ke. Retrieved 2017-10-04.

[7] WT/COMTD/N/11 Archived 2009-03-25 at the Wayback Machine

[8] WT/COMTD/N/21 Archived 2009-03-27 at the Wayback Machine

[9] Africa free trade zone in operation by 2018