#Africa trading blocs update#
#Africa trading blocs free#

#Africa trading blocs update#

Please help update this article to reflect recent events or newly available information. Parts of this article (those related to pre-2017 deadlines) need to be updated.

End of all transition periods: 2034 at the latest.(to be completed in 2028) Establishing of a continent-wide economic and monetary union (and thus also a currency union) and Parliament.(to be completed in 2025) Establishing of a continent-wide African Common Market (ACM).

#Africa trading blocs free#

(to be completed in 2023) Establishing of a continent-wide customs union (and thus also a free trade area).

(completed in 2021) Establishing of a free trade area and customs union in each regional bloc.

(completed in 2007) Strengthening of intra-REC integration and inter-REC harmonisation.

(completed in 1999) Creation of regional blocs in regions where such do not yet exist.

Is envisioned to be created in six stages: The AEC founded through the Abuja Treaty, signed in 1991 and entered into force in 1994 GAFTA and MRU are the only blocs not currently stalled.

Economic Community of the Great Lakes Countries (CEPGL).

Greater Arab Free Trade Area (GAFTA) (an organization of most Middle Eastern states, including those outside Africa).

Other African regional blocs, not participating in the AEC framework (many of them predating AEC) are: Southern African Development Community (SADC)Ĭandidate states year of application CEN-SAD Intergovernmental Authority on Development (IGAD) West African Economic and Monetary Union (UEMOA) These pillars and their corresponding subgroups are as follows:Ĭommunity of Sahel-Saharan States (CEN-SAD)Ĭommon Market for Eastern and Southern Africa (COMESA)Įconomic Community of Central African States (ECCAS/CEEAC)Įconomic and Monetary Community of Central Africa (CEMAC)Įconomic Community of West African States (ECOWAS) Several of these pillars also contain subgroups with tighter customs and/or monetary unions of their own: 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. Most of these RECs form the 'pillars' of AEC, many of which also have an overlap in some of their member states.

The RECs consist primarily of trade blocs and, in some cases, some political and military cooperation. Currently there are multiple regional blocs in Africa, also known as Regional Economic Communities (RECs), many of which have overlapping memberships.