Table 1 Regional economic communities of Trade Blocs in Africa.
S.No | Trading Blocs | Description | Objectives | Initiation |
|---|---|---|---|---|
1 | SADC | An intergovernmental organization headquartered in Gaborone Botswana. It has 15 member countries | Socio-economic cooperation integration in global economy, political and security cooperation among member countries | Mid 1960's and expansion in 1970s |
2 | COMESA | Initially known as Preferential | Formation of a Free Trade | PTA in 1981 |
| Â | Â | Trade Area for Eastern and | Area | COMESA in 1994 |
| Â | Â | Southern African states (PTA) | Â | Â |
| Â | Â | It has 19 member countries | Â | Â |
3 | EAC | Regional organisation. It has 6 member countries | Economic, Social and Political Integration | Founded in 1919, collapsed in 1977, revived in 2000 |
4 | SACU | Its ally is Common Monetary Area (CMA). It is 5 member countries | Custom Union for hassle Free Trade | It was established in 1910 |
5 | ECOWAS | There are 15 member countries | Regional, Political and Economic Union | Created by the Treaty of Lagos in Nigeria on May 28th, 1975 |
6 | ECCAS | Initially known as Custom and Economic Union of Central Africa (UDEAC). ECCAS has 11member countries | Regional Economic cooperation | Formed in 1983 |