West African Economic and Monetary Union
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The West African Economic and Monetary Union (or UEMOA from its name in French, Union économique et monétaire ouest-africaine) is an organization of states of West Africa established to promote economic integration among countries that share a common currency, the CFA franc.
UEMOA was created by a Treaty signed at Dakar, Senegal, on January 10 1994 by the Heads of State and Government of Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo. On May 2, 1997, Guinea-Bissau became its eighth member state.
UEMOA is a customs union and monetary union between some of the members of Economic Community of West African States (ECOWAS).
Members
- Benin (1994)
- Burkina Faso (1994)
- Côte d’Ivoire (1994)
- Guinea-Bissau (On May 2, 1997)
- Mali (1994)
- Niger (1994)
- Senegal (1994)
- Togo (1994)
Comparision with other Regional blocs
| Regional bloc 1 | Area (km²) | Population | GDP (PPP) ($US) | Member states 1 | |
|---|---|---|---|---|---|
| in millions | per capita | ||||
| EU | 3,977,487 | 460,124,266 | 11,723,816 | 25,480 | 25 |
| CARICOM | 462,344 | 14,565,083 | 64,219 | 4,409 | 14+1 3 |
| ECOWAS | 5,112,903 | 251,646,263 | 342,519 | 1,361 | 15 |
| CEMAC | 3,020,142 | 34,970,529 | 85,136 | 2,435 | 6 |
| EAC | 1,763,777 | 97,865,428 | 104,239 | 1,065 | 3 |
| CSN | 17,339,153 | 370,158,470 | 2,868,430 | 7,749 | 10 |
| GCC | 2,285,844 | 35,869,438 | 536,223 | 14,949 | 6 |
| SACU | 2,693,418 | 51,055,878 | 541,433 | 10,605 | 5 |
| COMESA | 3,779,427 | 118,950,321 | 141,962 | 1,193 | 5 |
| NAFTA | 21,588,638 | 430,495,039 | 12,889,900 | 29,942 | 3 |
| ASEAN | 4,400,000 | 553,900,000 | 2,172,000 | 4,044 | 10 |
| SAARC | 5,136,740 | 1,467,255,669 | 4,074,031 | 2,777 | 8 |
| Agadir | 1,703,910 | 126,066,286 | 513,674 | 4,075 | 4 |
| EurAsEC | 20,789,100 | 208,067,618 | 1,689,137 | 8,118 | 6 |
| CACM | 422,614 | 37,816,598 | 159,536 | 4,219 | 5 |
| PARTA | 528,151 | 7,810,905 | 23,074 | 2,954 | 12+2 3 |
| Reference blocs and countries 2 | Area (km²) | Population | GDP (PPP) ($US) | Political divisions | |
| in millions | per capita | ||||
| UN | 133,178,011 | 6,411,682,270 | 55,167,630 | 8,604 | 192 |
| Canada | 9,984,670 | 32,507,874 | 1,077,000 | 34,273 | 13 |
| China (PRC) 4 | 9,596,960 | 1,306,847,624 | 8,182,000 | 6,300 | 33 |
| India | 3,287,590 | 1,102,600,000 | 3,433,000 | 3,100 | 35 |
| Russia | 17,075,200 | 143,782,338 | 1,282,000 | 8,900 | 89 |
| USA | 9,631,418 | 296,900,571 | 11,190,000 | 39,100 | 50 |
| 1 Including data only for full and most active members 2 The first two states in the World by area, population and GDP (PPP) 3 Including non-sovereign autonomous entities of other states 4 Data for the People's Republic of China does not include Hong Kong, Macau and regions administered by the Republic of China (Taiwan). ██ ██ During 2004. Source: CIA World Factbook 2005, IMF WEO Database | |||||
See also
- Eco of the West African Monetary Zone in ECOWAS
- Economic and Monetary Community of Central Africa (CEMAC)
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