Explain any five objectives of the Economic Community of West African States (ECOWAS). [20 marks]

Answer Details

The Economic Community of West African States (ECOWAS) was established in 1975 (Treaty of Lagos) to promote co-operation and integration among West African countries. Five of its objectives are:

1. Promotion of trade among member states. ECOWAS aims to remove trade barriers such as tariffs and quotas between members so as to create a large single West African market and increase intra-regional trade.
2. Free movement of persons, goods, capital, and services. It seeks to allow citizens, goods, and factors of production to move freely across member states, including the right of residence and establishment.
3. Harmonisation of economic policies. It aims to co-ordinate and harmonise the economic, industrial, agricultural, monetary, and fiscal policies of member states, including working towards a common currency.
4. Joint development of infrastructure and resources. It promotes the joint development of transport, communications, energy, and other infrastructure, and the shared exploitation of the region's natural resources.
5. Raising the standard of living and promoting economic development. Its overall aim is to accelerate the economic growth and development of the region and improve the welfare and standard of living of its peoples.

(Other acceptable objectives: maintenance of peace, security, and stability in the region; promotion of industrial and agricultural development; and fostering closer relations and unity among member states.)