Table 1 Status of implementation of the Abuja Treaty per REC
From: Determinants of trade intensity of Egypt with COMESA Countries
Stages of the Abuja treaty | Stage one: 1994-1999 | Stage two: 2000-2007 | Stage three: 2008-2017 | Stage four: 2018-2019 | Stage five: 2020-2023 | Stage six: 2024-2028 latest 2034 | ||
|---|---|---|---|---|---|---|---|---|
RECs | Strengthening existing RECs and creation of new RECs where they do not exist | Coordination and harmonization of activities | Gradual elimination of tariff and non-tariff barriers | Free Trade Area | Customs Union | Continental Customs Union | Establishment of an African Common Market | Monetary and Economic Union |
UMA |
|
| In progress | Not yet | Not yet | This stage will be achieved when all RECs have achieved Customs Union and harmonized their respective Common External tariff (CET), with a view of creating one single continental CET | This stage will be achieved when all RECs have achieved continental customs union as well as free movement of labour and capital | This stage will be achieved when all RECs have achieved African Common Market at which time there will be a common currency, issued by the African Central Bank |
IGAD |
|
| In progress | Not yet | Not yet | |||
SADC |
|
|
|
| 2013 | |||
CENSAD |
|
| Not yet | Not yet | Not yet | |||
ECOWAS |
|
|
|
| 2015 | |||
COMESA |
|
|
|
|
| |||
ECCAS |
|
|
|
| No date fixed | |||
EAC |
|
|
|
|
| |||
