Goals
The AEC founded through the Abuja Treaty, signed in 1991 and entered into force in 1994 is envisioned to be created in six stages:
- (to be completed in 1999) Creation of regional blocs in regions where such do not yet exist
- (to be completed in 2007) Strengthening of intra-REC integration and inter-REC harmonisation
- (to be completed in 2017) Establishing of a free trade area and customs union in each regional bloc
- (to be completed in 2019) Establishing of a continent-wide customs union (and thus also a free trade area)
- (to be completed in 2023) Establishing of a continent-wide African Common Market (ACM)
- (to be completed in 2028) Establishing of a continent-wide economic and monetary union (and thus also a currency union) and Parliament
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- End of all transition periods: 2034 at the latest
Read more about this topic: African Economic Community
Famous quotes containing the word goals:
“Despicable means used to achieve laudable goals renders the goals themselves despicable.”
—Anton Pavlovich Chekhov (1860–1904)
“Whoever sincerely believes that elevated and distant goals are as little use to man as a cow, that “all of our problems” come from such goals, is left to eat, drink, sleep, or, when he gets sick of that, to run up to a chest and smash his forehead on its corner.”
—Anton Pavlovich Chekhov (1860–1904)
“We cannot discuss the state of our minorities until we first have some sense of what we are, who we are, what our goals are, and what we take life to be. The question is not what we can do now for the hypothetical Mexican, the hypothetical Negro. The question is what we really want out of life, for ourselves, what we think is real.”
—James Baldwin (1924–1987)