Bridges Weekly Trade News Digest • Volume 5 • Number 41 • 4th December 2001

News From The Regions: East & West Africa

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East African Community leaders push Customs Union

On 30 November in Arusha, Tanzania, the presidents of Kenya, Uganda and Tanzania instructed the Council of Ministers of the East African Community (EAC) to finalise the draft protocol on the establishment of the East African Customs Union.

In a joint statement, the three leaders — Kenya’s Daniel arap Moi, Uganda’s Yoweri Museveni, and Tanzania’s Benjamin Mkapa — advocated the need to focus on priorities that will have the greatest impact on poverty eradication and income generation. "Concerned measures will be taken in the areas of economic infrastructure, health, agriculture and food security, cross-border trade, and human resource development, including skills upgrading and promotion of the informal sector," the statement said.

The leaders acknowledged progress achieved in the implementation of the East African Development Strategy, in particular with regard to consultations initiated with civil society, the private sector, and development partners. According to the EAC, the Development Strategy sets out the priority programmes to be implemented during the period 2001 - 2005 which include widening and deepening of cooperation in all areas for the mutual benefits of the partner countries.

The presidents were on hand to launch two new EAC institutions: the East African Legislative Assembly and the East African Court of Justice. In separate speeches, arap Moi, Museveni, and Mkapa described the launch of the parliament and the court as significant fulfilment of the EAC Treaty, which was signed on 30 November 1999.

The EA Customs Union protocol will include provisions on elimination of internal and external tariffs, elimination of non-tariff barriers, establishment of a common external tariff, dumping and countervailing measures, and competition. The EAC Treaty says that a Common Market will follow the establishment of a Customs Union, followed in turn by a Monetary Union and a Political Federation of East African States. According to the Treaty, member countries shall "within a period of four years conclude the Protocol on the Establishment of a Customs Union."

For further information visit: http://www.eachq.org/.

Common currency to be introduced in West African Economic Bloc

The Economic Community of West African States (ECOWAS) are set to introduce a common currency in 2004, according to a statement issued on 23 November 2001 by the Nigerian Ministry of Cooperation and Integration. Arrangements exist for making the currencies of member countries convertible to each other and creating a fixed relationship to the new currency through an exchange rate mechanism being worked out by the West African Monetary Institute (WAMI). The statement notes that a single currency would both increase the rate of economic growth and help alleviate poverty in the sub-region. It adds that benefits also include stability of currency, enhancement of the purchasing power of workers, access to a variety of goods without additional cost, elimination of currency trafficking and financial stability.

The single currency concept for the West African sub-region lies in ECOWAS’ Fast Track Approach, which acknowledges the need to adopt a two- track approach to the implementation of the integration programmes of ECOWAS. As agreed during a meeting of heads of state in Bamako, Mali on 15 December 2000, a second monetary zone, a common central bank, and a common currency are to be established by 2003. ECOWAS was founded in 1975 and comprises 15 members, namely Benin, Burkina Faso, Cape Verde, Gambia, Guinea, Ghana, Cote d’Ivoire, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.

ECOWAS Summit

On 20-21 December, leaders of the Economic Community of West African States (ECOWAS) will meet in Dakar, Senegal to assess progress made in the implementation of integration programmes and designate the definitive host countries for ECOWAS’ nascent parliament and court of justice. For further information visit: http://www.ecowas.int/.

"New step for East Africa Common Market," XINHUA, 30 November 2001; "East African leaders call for early setting up customs union," XINHUA, 30 November 2001; ICTSD Internal Files.