|
|
| BOLD CAPITALS | Organisation of African Unity:
Formed in 1963, the OAU's aims are the promotion of African unity and solidarity, co-ordination of national policies in a variety of areas, and the defence of national souvereignity. Starting in 2002, the OAU will undergo a major overhaul of its institutions with the ultimate objective of establishing a political and economic union along the lines of the European Union. It will be renamed the African Union.
Union of the Arab Maghreb:The main political and economic bloc in Arab North Africa was created 1989 as a vehicle to promote economic and political co-operation. Since 1994, the foundations of a free trade zone have been put in place.
CFA Franc Zone:The Communauté Financière de l'Afrique is a group of 14 African countries, mostly former french colonies, which use the CFA Franc as currency and have adopted other fiscal and monetary measures under agreements with the French government. The CFA Franc is fixed in value to the French Franc(100CFA = 1FF) and the Euro(665.96 CFA = 1Euro).
Common Market for Eastern and Southern Africa:Set up in 1994 with the aims of establishing a free trade area and customs union by eleminating barriers to intra-COMESA trade.
Economic Coummunity of West African States:Originally established to create a common market and free trade zone in West Africa, ECOWAS has sinced assumed important diplomatic and security functions, most prominently in the area of conflict resolution.
Southern African Development Community:The SADC was created in 1992 by southern African states concerned to limit and counter the dominant political and economic influence of South Africa in the region. Since the end of apartheid, South Africa has joined the SADC which is now principal forum for regional co-operation and trade promotion.