List of Regional Economic Communities recognized by the African Union. Currently, there are eight RECs recognised by the AU, each established under a separate regional treaty.
Contents
What are the 8 regional economic communities?
Africa’s current integration landscape contains an array of regional economic communities, including eight recognized as the building blocks of the African Union. These eight are namely: AMU, CEN-SAD, COMESA, EAC, ECCAS, ECOWAS, IGAD and SADC.
Does Africa have a regional economic union?
The Regional Economic Communities (RECs) are regional groupings of African states.Generally, the purpose of the RECs is to facilitate regional economic integration between members of the individual regions and through the wider African Economic Community (AEC), which was established under the Abuja Treaty (1991).
What are the six regions of Africa?
Six regions: North Africa, West Africa, Central Africa, North East Africa, East Africa, Southern Africa.
How many regional integration are there in Africa?
three regional integration arrangements
To achieve this the Economic Commission for Africa (ECA) supported three regional integration arrangements; the Economic Community of West African States (ECOWAS) for West Africa, which was established in 1975, predating the LPA; the Preferential Trade Area (PTA) covering East and Southern Africa, which was the
How many regions are in Africa?
five regions
The UN Statistics Division has subdivided the African continent into five regions, Northern Africa, Central or Middle Africa , Southern Africa, East Africa, and Western Africa.
What are African regional groupings?
Regional economic communities (RECs) are regional groupings of African states. Their primary purpose is to facilitate regional economic integration between member states.
How many pillars does the United States have for Africa?
These four pillars are all interconnected. You can’t fully achieve one without achieving all of them.
What are examples of economic unions?
Examples of Economic Unions
- European Union (EU) The European Union is the world’s largest trade bloc.
- CARICOM Single Market and Economy (CSME)
- Central American Common Market.
- Eurasian Economic Union (EEU)
- Gulf Cooperation Council (GCC)
What is regional economic grouping?
Regional economic groupings aim at creating a larger economic unit from smaller national economies. For this purpose, they aim to remove trade barriers and establish closer co-ordination and co-operation among the countries involved.A preferential trade area is the weakest form of economic grouping.
Which country is the richest in Africa?
Egypt
List
| Region Rank | Country | Peak value of GDP (PPP) as of 2021 Billions of International dollars |
|---|---|---|
| — | Africa | 7,172.782 |
| 1 | Egypt | 1,381.057 |
| 2 | Nigeria | 1,136.795 |
| 3 | South Africa | 861.929 |
Are there 53 countries in Africa?
The 53 countries in alphabetical order are: Algeria, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo, Ivory Coast, Djibouti, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya,
Are there 54 or 55 countries in Africa?
The total number of independent states in Africa is 54. The transcontinental country in this region is Egypt, also having a small part of its territory in Asia, on the other side of the Suez Canal, but politically it is a member of the African Union.
What is African economic integration?
Its aim was to promote economic development of the continent through economic cooperation among the economies of the states in Africa.It sought to achieve this through coordination and harmonisation in the field of economic and political cooperation.
What are the 3 types of regional economic integration?
There are four main types of regional economic integration.
- Free trade area. This is the most basic form of economic cooperation.
- Customs union. This type provides for economic cooperation as in a free-trade zone.
- Common market.
- Economic union.
Why do most African economic integration fail?
One of the factors that inhibit trade integration is the existence of different rules, regulations and standards as well as divergent customs procedures (Shimuyemba 2000:8). In addition, the levels of intra-regional trade are still too low to contribute significantly to integration.
Are there 56 countries in Africa?
Africa has 54 countries fully recognized by the United Nations, two independent states with limited or no recognition (Western Sahara and Somaliland), and several territories (mostly islands) controlled by non-African countries.
What are the 4 geographic regions of Africa?
Contents:
- Northern Africa.
- West Africa.
- Middle Africa/Central Africa.
- East Africa.
- Southern Africa.
How many countries make up Africa?
54 countries
There are 54 countries in Africa today, according to the United Nations. The full list is shown in the table below, with current population and subregion (based on the United Nations official statistics).
Is IGAD a regional economic community?
With regard to trade in services, IGAD is among the few regional economic communities in Africa in having a sustainable framework for tourism development.
What are the economic and political argument for regional economic integration?
According to Hill, regional economic integration refers to “agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other.” The prevailing economic argument for regional economic
