Organization Promoting Exports
The mineral industry is an important source of export earnings for many African nations. To promote exports, groups of African countries have formed numerous trade blocs, which included the Common Market for Eastern and Southern Africa, the Economic and Monetary Community of Central Africa, the Economic Community of Central African States, the Economic Community of West African States, the Mano River Union, the Southern African Development Community, and the West African Economic and Monetary Union. Algeria, Libya, and Nigeria were members of the Organization of the Petroleum Exporting Countries (OPEC). The African Union was formally launched as a successor to the Organization of African Unity in 2002 to accelerate socioeconomic integration and promote peace, security, and stability on the continent.
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