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ECOWAS: Economic Community of West African States

ECOWAS: Economic Community of West African States. By Aakash Hathi and Swami Raman. What is ECOWAS?. Regional group of 15 West African countries. Founded on May 28 th , 1975. 36 years old. Created by signing on the Treaty of Lagos.

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ECOWAS: Economic Community of West African States

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  1. ECOWAS: Economic Community of West African States By Aakash Hathi and Swami Raman

  2. What is ECOWAS? • Regional group of 15 West African countries. • Founded on May 28th, 1975. • 36 years old. • Created by signing on the Treaty of Lagos. • Its mission is to promote economic integration in all fields of economic activity.

  3. Members of ECOWAS

  4. History • Idea came from President William Tubman of Liberia in 1965. • Treaty of Lagos finally signed in 1975. • In July, 1993, ECOWAS Treaty reformed. • Changed from Secretariat to Commission. • Designated one of the five regional pillars of the African Economic Community.

  5. Objectives • To promote co-operation and integration in economic, social and cultural activity. • Establish an economic and monetary union through the total integration of the national economies of member states. • Raise the living standards of its peoples. • Maintain and enhance economic stability. • Foster relations among member states. • Contribute to the progress and development of the African Continent.

  6. Objectives Continued • Extend economic and political co-operation among member states. • Create a common market and a single currency. • Create a West African parliament. • Create an economic and social council. • Create an ECOWAS court of justice.

  7. Structure after Restructuring Secretariat • Authority of Heads of State and Government • Council of Ministers • Community Court of Justice • ECOWAS Parliament • President and Vice President • Seven Specialised Commissions

  8. Leadership • Chairman Alassane Ouattara from Cote d’Ivoire • President Kadré Désiré Ouedraogo from Burkina Faso • VP Toga Gayewea MCINTOSH from Liberia

  9. Other ECOWAS Institutions • Bank for Investment and Development (EBID) • West African Health Organisation (WAHO) • West African Monetary Agency (WAMA) • West African Monetary Institute (WAMI) • ECOWAS Youth & Sports Development Centre (EYSDC) • ECOWAS Gender Development Centre (EGDC) • Water Ressources Coordination Unit (WRCU)

  10. Institutions Continued • ECOWAS BROWN CARD • The West African Power Pool (WAPP) • The Inter-Governmental Action Group against Money Laundering and Terrorism Financing in West Africa (GIABA) • West African Regional Health Programme (PRSAO) • ECOWAS Regional Centre for Renewable Energy and Energy Efficiency(ECREEE)

  11. Advantages of Membership • Integration of local economies • Reduces trade barriers among member nations • Enforcement of Rule of Law • Increase in investment due to freer trade. • Increased Government Revenue from trade. • Possibility for higher standard of living • Cooperation in broadening democratic process

  12. Disadvantages of Membership • Decreased Sovereignty • More legislative power given to ECOWAS Institutions • Increased reliance on other nations for political and economic stability • Decreased ability to be self-reliant • Free movement of persons

  13. Imact of ECOWAS • International trade increased from 10%-30% in a span of 30 years • West African Gas Pipeline Project (WAGP) • Interconnection of national railway networks/Regional Airline • INTELCOM programmes • Promotion of Girls Education • Loans and projects through the investment bank • Coordination of resources in the area

  14. THE END

  15. WORKS CITED • Akinyeye, Yomi, Boubacar Barry, and Pierre Sané. Nation-states and the Challenges of Regional Integration in West Africa. Paris: Karthala, 2010. Print. • "Assessment of the Impact of the Economic Partnership Agreement between the ECOWAS Countries and the European Union." Assessment of the Impact of the Economic Partnership Agreement between the ECOWAS Countries and the European Union. Munich Personal RePEc Archive. Web. 26 Mar. 2012. <http://mpra.ub.uni-muenchen.de/13292/1/MPRA_paper_13292.pdf>. • "THE ECOWAS COMMISSION." THE ECOWAS COMMISSION. Web. 26 Mar. 2012. <http://www.ecowas.int/>. • "ECOWAS How Regional Integration Works in West Africa A Handbook for Journalists." ECOWAS How Regional Integration Works in West Africa A Handbook for Journalists. Web. 26 Mar. 2012. <http://www3.giz.de/imperia/md/content/a-internet2008/iij/ecowas.pdf>. • "PROFILE: ECONOMIC COMMUNITY OF WEST AFRICAN STATES (ECOWAS)." PROFILE: ECONOMIC COMMUNITY OF WEST AFRICAN STATES (ECOWAS). Web. 26 Mar. 2012. <http://www.africa-union.org/root/au/recs/ECOWASProfile.pdf>. • Wang, Daniel Xiao. "The Impact of Economic Community Of West African States (ECOWAS) on Global Development." Helium. Helium, 13 Aug. 2010. Web. 26 Mar. 2012. <http://www.helium.com/items/1921394-the-impact-of-economic-community-of-west-african-states-ecowas-on-global-development>.

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