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TitleReport of the Proceedings of the 2017 MEFMI Deputy Governors and Deputy Permanent Principal Secretaries Forum: Regional Integration
AuthorMEFMI
SubjectRegional Integration
Date of Publication20170506
PublisherMacroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)
Number of Pages40 pages
LanguageEnglish
Geographical CoverageAfrica
KeywordsContinental Free Trade Agreements, Boosting Inter-Africa Trade
AbstractThe African Union (AU) has promoted regional economic integration through the 1991 Treaty, establishing the African Economic Community (AEC). The Treaty came into force in 1994. The major aim was to promote mutual economic development on the African continent through the adoption of a linear model of regional integration. This will ensure the creation of Free Trade Areas (FTAs), customs unions, a single market, a central bank and a common currency. The long term objective is to move towards an economic and monetary union. Appendix I provides a full detail of the six stages of the linear model of regional economic integration. The Deputy Governors and Deputy Permanent /Principal Secretaries Forum sought to bring together policy makers, to discuss the current state of regional integration on the African continent. Currently, there are multiple regional economic communities with several overlapping memberships. The regional arrangement also consists largely of trade blocs with some political and military cooperation. MEFMI member countries belong mainly to the EAC and the Southern Africa Development Community (SADC). In addition, there is also overlapping membership of the MEFMI member countries to the Common Market for Eastern and Southern Africa (COMESA). Having representatives of two (2) regional blocs and different FTAs has helped the MEFMI region to assess the progress made in implementation so far, and the effectiveness of the implementation initiatives of the adopted model. The purpose of this report is not only to provide a summary of the Forum, but also highlight some key considerations that will inform the design of MEFMI’s future capacity building activities.
Copyright HolderMacroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)
Copyright URLhttp://www.mefmi.org
Filesize1381816 MB
File FormatPDF
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