Below are summarized points for the aims and objectives of ECOWAS, NEPAD, AGOA, IDA, EEC.
You definitely need to know and remember these points about the aims and objectives of major world Economic Organizations for the WASSCE Economics paper.
We will begin with the aims and objectives of The International Development Association (I.D.A)
Aims and Objectives of IDA
1. To promote economic development of the less-developed areas of the world
2. To supplement the activities of the World Bank
Here now come the aims and objectives of the Economic Community of West African States that you’ve been searching for.
The Aims and Objective of ECOWAS:
There are at least 12 aims and objectives of the ECOWAS.
1. To promote co-operation and integration
2. To maintain and enhance economic stability and foster relations among member state,
3. To ensure harmonization and co-ordination of national policies and programmes
4. To promote joint ventures
5. To establish a common market
6. To ensure free trade among member states
7. To ensure free movement of factors of production within the community
8. To harmonize standards and measures
9. To establish an enabling legal environment
10. To promote balanced development of the West African sub-region
11. To establish a fund
12. To develop infrastructural facilities
Next is The European Economic Community (EEC) also known as The European Common Market (ECM)
Aims and Objectives of the EEC
1. To promote free trade between member countries
2. The establishment of a common external tariff
3. To harmonize economic policies
4. Free moment of labour, capital and other factors of production.
5. Harmonization of social policies
6. To form a political union
7. Association with overseas countries and territories
Below are the aims and objectives of the West African Clearing House (WACH)
See Also:
Definition of Economics Explained
Types of Economic Cooperation Explained
Aims and Objectives of WACH
1. Promotion of monetary co-operation and consultancy within the West African sub-region.
2. Promotion of currencies of member sates for commercial transactions within the West African sub-region
3. Ensuring free trade among member sates
4. Conservation of foreign exchange reserves for member states.
Now you can have the aims and objectives of The New Partnership for Africa’s Development (NEPAD) as well.
Aims and Objective of NEPAD
We can count at least 11 aims and objectives of NEPAD.
1. Eradication of poverty in Africa and placing African countries on a path of sustainable growth and development
2. Promotion of the role of woman in all activities
3. Achieving and sustaining an appreciable GDP growth rate.
4. To achieve the agreed International Development Goals (IDGs) also known as the UN Sustainable Development Goals.
5. Strengthening mechanisms for conflict prevention management and resolution
6. Promoting good governance, protecting democracy and human rights
7. Restoring and maintaining macro economic stability for Africa
8. Instituting transparent legal and regulatory frameworks for financial markets and auditing.
9. Revitalizing and extending the provision of education, technical training and health services.
10. Building the capacity for enforcing legal framework and maintaining law and order
11. Promoting the development of infrastructure, agriculture and industry in Africa
Let’s also talk about the aims and objectives of The Africa Growth and Opportunity Act (AGOA) Of the United States
Aims and Objectives of AGOA
1. To accelerate debt reduction for African countries
2. To improve debt relief strategies
3. To reverse the decline in aid flows from the overseas developed countries
4. To admit goods into markets of the developed countries
5. To encourage investment in Africa by the private sectors from developed countries
6. To raise consumer protection standards for imports from developed countries to developing countries
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