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Economic Community of West African States

Economic Community of West African States
Comunidade Económica dos Estados da África Ocidental Communauté économique des États de l’Afrique de l’Ouest

Guinea Guinea-Bissau Liberia Mali Niger Nigeria Senegal Sierra Leone Togo Leaders Chairman President of the Commission Umaru Yar Adua Mohamed Ibn Chambas May 28, 1975 5,112,903 km2 (7th) 1,5,352,86 sq mi 251,646,263 (4th) 115.6/km2 299.4/sq mi 2005 estimate U$ 342,519 Billion (28th) U$ 7,890 Cape Verdean escudo (CVE) Cedi (GHC)2 Dalasi (GMD)2 Guinean franc (GNF)2 Liberian dollar (LRD)3 Naira (NGN)2 Leone (SLL)3 West African CFA franc (XOF) (UTC0 to +2)

Economic Community of West African States

Establishment Treaty of Lagos Area Total Population 2006 estimate Density GDP (PPP) Total Per capita

Currency
UEMOA WAMZ ECOWAS only

Headquarters

Abuja, Nigeria
6°27′N 3°23′E / 6.45°N 3.383°E / 6.45; 3.383

Largest city Official languages Membership

Lagos, Nigeria French, English, Portuguese 15 members Benin Burkina Faso Cape Verde Côte d’Ivoire Gambia Ghana Time zone
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If considered as a single entity. to be replaced by the eco in 2009. Liberia has expressed an interest in joining the eco.

The Economic Community of West African States (ECOWAS) is a regional group of fifteen West African countries, founded on

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Economic Community of West African States

May 28, 1975 with the signing of the Treaty of Lagos. Its mission is to promote economic integration. In 1976 Cape Verde joined ECOWAS, and in December 2000 Mauritania withdrew,[1] having announced its intention to do so in December 1999.[2] It was founded to achieve "collective selfsufficiency" for the member states by means of economic and monetary union creating a single large trading bloc. The very slow progress towards this aim meant that the treaty was revised in Cotonou on July 24, 1993 towards a looser collaboration. The ECOWAS Secretariat and the Fund for Cooperation, Compensation and Development are its two main institutions to implement policies. The ECOWAS Fund was transformed into the ECOWAS Bank for Investment and Development in 2001. ECOWAS is one of the pillars of the African Economic Community. The current President of the Commission is Dr. Mohamed Ibn Chambas. The current chairman is President Umaru Yar’Adua of Nigeria. It operates officially in three coequal languages (French, English, and Portuguese).

West African Economic and Monetary Union
See also: CFA franc and Economic and monetary union The West African Economic and Monetary Union (or UEMOA from its name in French, Union économique et monétaire ouest-africaine) is an organization of eight states of West Africa established to promote economic integration among countries that share a common currency, the CFA franc. UEMOA was created by a Treaty signed at Dakar, Senegal, on January 10, 1994 by the Heads of State and Government of Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo. On May 2, 1997, Guinea-Bissau became its eighth member state. UEMOA is a customs union and monetary union between some of the members of ECOWAS. Its objectives are[5] • Greater economic competitiveness, through open and competitive markets, along with the rationalization and harmonization of the legal environment • The convergence of macroeconomic policies and indicators • The creation of a common market • The coordination of sectoral policies • The harmonization of fiscal policies In terms of its achievements, UEMOA members have implemented macroeconomic convergence criteria and an effective surveillance mechanism; have adopted a customs union and common external tariff (early 2000); have harmonized indirect taxation regulations; and have initiated regional structural and sectoral policies. A September 2002 IMF survey cited the UEMOA as "the furthest along the path toward integration" of all the regional groupings in Africa.[6] ECOWAS and UEMOA have developed a common program of action on trade liberalization and macroeconomic policy convergence. ECOWAS and UEMOA have also agreed on common rules of origin to enhance trade, and ECOWAS has agreed to adopt UEMOA’s customs declaration forms and compensation mechanisms. [7]

Current members
Benin Burkina Faso Cape Verde Côte d’Ivoire Gambia Ghana Guinea-Bissau Liberia Mali Niger Nigeria Senegal Sierra Leone Togo

Suspended members
Guinea - suspended after 2008 coup d’état[3][4]

West African Monetary Zone
See also: Eco (currency) The West African Monetary Zone is a group of 5 countries in ECOWAS that plan to introduce a common currency, the Eco by the year 2009. The 5 member states are Gambia,

Achievements

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Economic Community of West African States
• Trade and Industry • Rural Econ. & Agri. • Economic • Legal Counsel • Executive Council • Rep. Committee Legislature • Pan-African Parliament • President • Bureau • Secretariat • List of members • Permanent Committees • Rural Econ., Agri., Resources, Eviron. • Monetary & Financial • Trade, Customs, & Immigration • Cooperation, IR, & Conflict • Transport, Industry, Communications, Energy, Science, & Tech. • Health, Labour, & Social • Educ., Culture, Tourism, & HR • Gender, Family, Youth, Disabilities • Justice & Rights • Rules, Privileges, & Discipline Judiciary • Sirte Declaration • Constitutive Act of the AU • Law • Charter on Rights • Commission on Human and Peoples’ Rights • Court of Justice • Court on Human and Peoples’ Rights • List of judges Advisory bodies • Peace and Security Council • Economic, Social, and Cultural Council • Specialised Technical Committees • Rural Econ., Agri. • Monetary & Financial • Trade, Customs, and Immigration • Industry, Sci. & Tech., Energy... • Transport, Comm., Tourism • Health, Labor, Social • Edu., Culture, & Human Resources Financial bodies • AEC Pillars (Abuja Treaty) • CEN-SAD • COMESA • EAC • ECCAS/CEEAC • CEMAC • ECOWAS • UEMOA • WAMZ

Ghana, Guinea, Nigeria and Sierra Leone. Liberia (also a member of ECOWAS), has expressed an interest in joining. The WAMZ is dominated by Nigeria, Africa’s largest oil producer and most populous country, with an estimated 145 million people. Its other members are Ghana, Sierra Leone, Gambia and Guinea, thus it is dominated by Englishspeaking countries. Guinea is the only Francophone member of the grouping. Along with Mauritania, it opted out of the CFA franc currency shared by all other former French colonies in West and Central Africa. The WAMZ was formed in 2000 to try and establish a strong stable currency to rival the CFA franc, whose exchange rate is tied to that of the euro and is guaranteed by the French Treasury. The eventual goal is for the CFA franc and Eco to merge, giving all of West and Central Africa a single stable currency. The launch of the new currency is being prepared by the West African Monetary Institute based in Accra, Ghana. This is intended to be the forerunner of a common central bank. However, several of the WAMZ’s countries suffer from weak currencies and chronic budget deficits which are currently plugged by their central banks printing more and more notes of decreasing real value.

President of the Commission
African Union
This article is part of the series:

Politics and government of the African Union Institutions • Casablanca Group • Union of African States • Organisation of African Unity • African Economic Community • African Unification Front Executive • Assembly • Chairperson • Commission • Chairperson • Conference and Events • Peace & Sec. • Pol. Affairs • Infra. & Energy • Soc. Affairs • HR, Sci., & Tech.

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• IGAD • SADC • SACU • AMU/UMA • African Central Bank • African Monetary Fund • African Investment Bank • New Partnership for Africa’s Development • African Peer Review Mechanism Decentralised bodies • Agencies of the AU Related topics • Elections • Enlargement • Foreign relations
Other countries

Economic Community of West African States
• Jerry John Rawlings (Ghana) 1994 – 27 July 1996 • Sani Abacha (Nigeria) 27 July 1996 – 8 June 1998 • Abdulsalami Abubakar (Nigeria) 9 June 1998 – 1999 • Gnassingbé Eyadéma (Togo) 1999 • Alpha Oumar Konaré (Mali) 1999 – 21 December 2001 • Abdoulaye Wade (Senegal) 21 December 2001 – 31 January 2003 • John Agyekum Kufuor (Ghana) 31 January 2003 – 19 January 2005 • Mamadou Tandja (Niger) 19 January 2005 – 19 January 2007 • Blaise Compaoré (Burkina Faso) 19 January 2007 – 19 December 2008 • Umaru Yar’Adua (Nigeria) 19 December 2008 - present

· Atlas Politics portal

From 1977 to 2006 the post name was Executive Secretary • Aboubakar Diaby Ouattara (Côte d’Ivoire) January 1977 – 1985 • Momodu Munu (Sierra Leone) 1985 – 1989 • Abass Bundu (Sierra Leone) 1989 – 1993 • Édouard Benjamin (Guinea) 1993 – 1997 • Lansana Kouyaté (Guinea) September 1997 – 31 January 2002 • Mohamed Ibn Chambas (Ghana) 1 February 2002 – 31 December 2006 From the restructuring • Mohamed Ibn Chambas (Ghana) 1 January 2007 – present

Regional Security Cooperation
The ECOWAS nations have signed a non-aggression protocol in 1990 as well as two earlier agreements in 1978 and 1981. They have also signed a Protocol on Mutual Defence Assistance, in Freetown, Sierra Leone, on May 29, 1981 that provided for the establishment of an Allied Armed Force of the Community See also: ECOMOG

Chairmen
• Gnassingbé Eyadéma (Togo) 1977 – 1978 • Olusegun Obasanjo (Nigeria) 1978 – 1979 • Léopold Sédar Senghor (Senegal) 1979 – 1980 • Gnassingbé Eyadéma (Togo) 1980 – 1981 • Siaka Stevens (Sierra Leone) 1981 – 1982 • Mathieu Kérékou (Benin) 1982 – 1983 • Ahmed Sékou Touré (Guinea) 1983 – 1984 • Lansana Conté (Guinea) 1984 – 1985 • Muhammadu Buhari (Nigeria) 1985 – 27 August 1985 • Ibrahim Babangida (Nigeria) 27 August 1985 – 1989 • Dawda Jawara (The Gambia) 1989 – 1990 • Blaise Compaoré (Burkina Faso) 1990 – 1991 • Dawda Jawara (The Gambia) 1991 – 1992 • Abdou Diouf (Senegal) 1992 – 1993 • Nicéphore Soglo (Benin) 1993 – 1994

The Community Court of Justice
The ECOWAS Community Court of Justice was created by a protocol signed in 1991, and included in Article 6 of the Revised Treaty of the Community that came into existence in 1993.[8] The Court was legally came in to being when the 1991 protocol entered into force on 5 November, 1996. The jurisdiction of the Community Court of Justice is laid out in Article 9 and Article 76 of the Revised Treaty, and includes ruling on disputes between states over interpretations of the Revised Treaty and providing the ECOWAS Council with advisory opinions on legal issues (Article 10). Like its companion courts the European Communities Court of Justice and the East African Court of Justice, it has jurisdiction over fundamental human rights breaches.[8]

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From Wikipedia, the free encyclopedia

Economic Community of West African States
[6] “Economic Community of West African States (ECOWAS)” fact sheet from the US Department of State’s Bureau of African Affairs [7] “Annual Report on Integration in Africa 2002” All Africa, 1 March 2002 [8] ^ ECOWAS (2007) Information Manual: The Institutions of the Community ECOWAS [9] 2007 Rail link ECOWAS countries

Sporting and cultural exchange
ECOWAS nations organise a broad array of cultural and sport meetings under the auspices of the body, ranging from the CEDEAO Cup in football, to the Miss CEDEAO Beauty pageant.

Transport
A 2007 Trans-ECOWAS project plans to upgrade railways in this zone, including Ghana.
[9]

External links
• • • • • • • • West-African Monetary Institute Official Website (In French) WAEMU Treaty ECOWAS Official Web Site ECOWAS Secretariat Official Web Site: includes calendar of meetings. ECOWAS Parliament ECOWAS Revised Treaty ECO(was) Bank West African banking group, present in ten ECOWAS countries, including Central African country Cameroon. ECOBANK’s Initial Public Offer of eight million plus shares in Accra, Ghana in May 2006 was oversubscribed. Money generated from this IPO, that has resulted in the landing of ECOBANK on the Ghana Stock Exchange, will see ECOBANK expand to remaining ECOWAS countries. More: *[2]; PowerPoint presentation of ECOWAS, 2004 Mbendi profile

References
[1] ECOWAS Executive Secretariat (2002) Fostering Regional Integration through NEPAD Implementation Annual Report 2002 of the Executive Secretary Dr Mohamed Ibn Chambas, Abuja: ECOWAS [2] ECOWAS Executive Secretariat (2000) Executive Secretary’s Report 2000, Abuja: ECOWAS [3] AU Stänger av Guinea. [4] "African Union bars Guinea on coup" bbc.co.uk 29 December 2008 Link accessed 29/12/08 [5] [1] REGIONAL INTEGRATION AND COOPERATION IN WEST AFRICA A Multidimensional Perspective, Chapter 1. Introduction: Reflections on an Agenda for Regional Integration and Cooperation in West Africa

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Retrieved from "http://en.wikipedia.org/wiki/Economic_Community_of_West_African_States#West_African_Monetary_Zone" Categories: Organizations established in 1975, African Union, International economic organizations, International organizations, International organizations of Africa, Regional Economic Communities of the African Union, Trade blocs, Economic Community of West African States, Abuja This page was last modified on 17 May 2009, at 04:46 (UTC). All text is available under the terms of the GNU Free Documentation License. (See Copyrights for details.) Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a U.S. registered 501(c)(3) taxdeductible nonprofit charity. Privacy policy About Wikipedia Disclaimers

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