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Central Africa working to revive stalled integration process
During the same period in both the Southern African Development Community (SADC) and the Economic Community of West African States (ECOWAS), exchanges stood at 10 percent and 15 percent in the West African Economic and Monetary Union (WAEMU).
The African Union and the United Nations Economic Commission for Africa are pushing for a Free Trade Area in Africa which will help the region and the continent better harness their resources.
Recent trends, however, suggest integration seems to be growing in Central Africa and regional governments are working towards harmonization.
Central Africa’s pivotal and strategic location makes it a potentially preferred transit zone between regions of the continent. Recently, proven oil reserves in the region are estimated at 31.1 billion barrels, representing 28 percent of the continent’s total reserves, according to the African Development Bank (AfDB).
It abounds in minerals, agriculture and forestry and hosts the continent’s largest hydro-electric power potential which stands at 60 percent.
Source: The Africa Review
