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Economic Integration in Africa – Overview, Progress and Challenges

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  • Eduard Marinov

Abstract

State and government leaders of the African Union are strongly committed to adopt and implement decisions for regional integration, seen as a common strategy for the development of the continent. The major objective at continental level is the establishment of the African Economic Community as the last of six consecutive stages of integration, including the strengthening of inter-sectoral cooperation and the establishment of regional free trade areas, monetary union, common market, monetary and economic union, covering the entire continent. Currently there are 16 Regional economic communities in Africa and 8 of them are officially recognized as the foundation for the development of the African economic community. In our paper we review their goals, their main achievements and issues and also the progress made in the integration process and the challenges it faces.

Suggested Citation

  • Eduard Marinov, 2014. "Economic Integration in Africa – Overview, Progress and Challenges," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 6(1), March.
    • Handle: RePEc:iem:journl:v:6:y:2014:i:1:id:2822000009240015
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    References listed on IDEAS

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    More about this item

    Keywords

    Economic integration; Regional economic communities; African economy;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F54 - International Economics - - International Relations, National Security, and International Political Economy - - - Colonialism; Imperialism; Postcolonialism

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