Economic Community of West African States (ECOWAS)
GS II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
- The Economic Community of West African States (ECOWAS) is a regional economic union and intergovernmental organization in West Africa.
- It was established on May 28, 1975, with the aim of promoting economic integration, cooperation, and development among its member states.
- The organization seeks to create a unified and stable economic environment, improve living standards, and foster peace and security in the region.
- ECOWAS consists of 15 member states.
- They are primarily located in West Africa.
- These member states collaborate through various institutions, including the ECOWAS Commission, the Community Parliament, and specialized agencies.
- Decisions within ECOWAS are made through consensus.
Key objectives of ECOWAS
- Economic Integration: ECOWAS aims to promote economic integration among its member states by creating a common market and facilitating the free movement of goods, services, people, and capital across national borders.
- Trade Facilitation: The organization works to eliminate trade barriers and improve trade relations among member countries, with the goal of boosting intra-regional trade.
- Infrastructure Development: ECOWAS seeks to develop regional infrastructure, such as transportation networks, energy systems, and telecommunications, to support economic growth and connectivity.
- Agricultural and Rural Development: The organization focuses on enhancing agricultural productivity, food security, and rural development to improve the livelihoods of people in the region.
- Monetary Cooperation: ECOWAS has taken steps toward establishing a common currency, known as the “Eco,” to promote monetary cooperation and stability among its member states. As of my last knowledge update in September 2021, the currency had not yet been fully implemented.
- Conflict Resolution and Peacekeeping: ECOWAS plays a role in conflict prevention, resolution, and peacekeeping efforts in the region. It has intervened in various political crises and conflicts to promote stability and democracy.
- Human Rights and Social Development: The organization works to promote human rights, gender equality, and social development in member states.
- Health and Environmental Cooperation: ECOWAS addresses health challenges and environmental issues through regional cooperation initiatives.
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