A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.
A single market, sometimes called common market or internal market, is a type of trade bloc in which most trade barriers have been removed with some common policies on product regulation, and freedom of movement of the factors of production and of enterprise and services. The goal is that the movement of capital, labour, goods, and services between the members is as easy as within them. The physical (borders), technical (standards) and fiscal (taxes) barriers among the member states are removed to the maximum extent possible. These barriers obstruct the freedom of movement of the four factors of production.
The Economic Community of West African States is a regional political and economic union of twelve countries of West Africa. Collectively, the present and former members comprise an area of 5,114,162 km2 (1,974,589 sq mi) and have an estimated population of over 424.34 million.
A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where barriers to trade are reduced or eliminated among the participating states.
The Southern African Development Community (SADC) is an inter-governmental organization headquartered in Gaborone, Botswana.
A subregion is a part of a larger geographical region or continent. Cardinal directions are commonly used to define subregions. There are many criteria for creating systems of subregions; this article is focusing on the United Nations geoscheme, which is a changing, constantly updated, UN tool based on specific political geography and demography considerations relevant in UN statistics.
The East African Community (EAC) is an intergovernmental organisation in East Africa. The EAC's membership consists of eight states: Democratic Republic of the Congo, the Federal Republic of Somalia, the Republics of Burundi, Kenya, Rwanda, South Sudan, Uganda, and Tanzania. William Ruto, the president of Kenya, is the current EAC chairman. The organisation was founded in 1967, collapsed in 1977, and was revived on 7 July 2000. The main objective of the EAC is to foster regional economic integration.
A preferential trade area is a trading bloc that gives preferential access to certain products from the participating countries. This is done by reducing tariffs but not by abolishing them completely. It is the first stage of economic integration.
The Council of Arab Economic Unity (CAEU) was founded by Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine, Saudi Arabia, Sudan, Tunisia, Syria, United Arab Emirates and Yemen on May 30, 1964, following an agreement in 1957 by the Economic Council of the Arab League.
The Economic Community of Central African States is an Economic Community of the African Union for promotion of regional economic co-operation in Central Africa. It "aims to achieve collective autonomy, raise the standard of living of its populations and maintain economic stability through harmonious cooperation".
N’Djamena Community of Sahel–Saharan States aims to create a free trade area within a region of Africa. There are questions with regard to whether its level of economic integration qualifies it under the enabling clause of the General Agreement on Tariffs and Trade (GATT).
The African Monetary Union (AMU) is the proposed creation of an economic and monetary union for the countries of the African Union, administered by the African Central Bank. Such a union would call for the creation of a new unified currency, similar to the euro; the hypothetical currency is sometimes referred to as the afro or afriq. The single African currency is to be composed of currency units made up of regional union reserve bank currency units of which are made up country specific currencies.
The Regional Economic Communities (RECs) in Africa group together individual countries in subregions for the purposes of achieving greater economic integration. They are described as the "building blocks" of the African Union and are also central to the strategy for implementing the African Development Development Agency (AUDA-NEPAD).
An economic union is a type of trade bloc which is composed of a common market with a customs union. The participant countries have both common policies on product regulation, freedom of movement of goods, services and the factors of production as well as a common external trade policy. When an economic union involves unifying currency, it becomes an economic and monetary union.
The African Free Trade Zone (AFTZ) is a free trade zone announced at the EAC-SADC-COMESA Summit on 22 October 2008 by the heads of Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC). The African Free Trade Zone is also referred to as the African Free Trade Area in some official documents and press releases.
Integration is a political and economic agreement among countries that gives preference to member countries to the agreement. General integration can be achieved in three different approachable ways: through the World Trade Organization (WTO), bilateral integration, and regional integration. In bilateral integration, only two countries economically cooperate with one another, whereas in regional integration, several countries within the same geographic distance become joint to form organizations such as the European Union (EU) and the North American Free Trade Agreement (NAFTA). Indeed, factors of mobility like capital, technology and labour are indicating strategies for cross-national integration along with those mentioned above.
A customs and monetary union is a type of trade bloc which is composed of a customs union and a currency union. The participant countries have both common external trade policy and share a single currency.
The Common Market for Eastern and Southern Africa (COMESA) is a regional economic community in Africa with twenty-one member states stretching from Tunisia to Eswatini. COMESA was formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Nine of the member states formed a free trade area in 2000, with Rwanda and Burundi joining the FTA in 2004, the Comoros and Libya in 2006, Seychelles in 2009, Uganda in 2012 and Tunisia in 2018.
The African Continental Free Trade Area (AfCFTA) is a free trade area encompassing most of Africa. It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization, and the largest in population and geographic size, spanning 1.3 billion people across the world's second largest continent.
