Explain six aims and objectives of the Economic Community of West African States (ECOWAS).

Answer Details

The Economic Community of West African States (ECOWAS) was established by the Treaty of Lagos on 28 May 1975 to promote cooperation and integration among the states of West Africa. Its main aims and objectives include:

1. Promotion of economic cooperation and integration: To harmonise and coordinate the economic policies of member states and eventually establish an economic union in West Africa for their collective development.
2. Establishment of a common market: To remove trade barriers, tariffs and customs duties among member states and create a large free-trade area that promotes the free movement of goods within the sub-region.
3. Free movement of persons, goods, services and capital: To abolish obstacles to the movement of citizens, labour, capital and services across the borders of member states and grant citizens the right of residence and establishment.
4. Raising the standard of living of the people: To accelerate economic growth and development so as to improve the living conditions and welfare of the people of West Africa.
5. Promotion of common development projects: To develop jointly transport, telecommunications, energy, industry and agriculture, and to pool resources for large infrastructural projects.
6. Maintenance of peace, security and stability: To foster harmonious relations, settle disputes among members peacefully, and maintain regional peace and security (as later pursued through the ECOWAS Monitoring Group, ECOMOG).
7. Promotion of solidarity and unity: To strengthen fraternity, cooperation and a sense of common identity among the peoples and governments of the sub-region.
8. Harmonisation of monetary and financial policies: To work towards a common currency and coordinated monetary systems for the sub-region.