Economic Community of West African States (ECOWAS):

ECOWAS was formed by 15 West African countries under the treaty of Lagos on 28 May, 1975. The community now has 16 members - The Republic of Benin, Ghana, Burkina Faso, Cape Verde, Guinea, Guinea - Bissau, Cote D'ivore, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra - Leone and Togo.

ECOWAS was established primarily to promote cooperation and development between member countries in all fields of economic activity. The main objectives of the Community are:

i. To promote free trade between member countries through gradual reduction of tariffs and other non-tariff barriers (NTBs).

ii. To eliminate obstacles restricting the free movement of persons, services and capital between member countries.

iii. To establish common tariff structure and commercial policy towards non- member countries.

iv. To harmonise the agricultural policies, and the promotion of common projects within the community, especially in the fields of marketing, research and agric business.

v. To promote joint development of transport, communication, energy and infrastructural facilities.

vi. To harmonise industrial and monetary policies of member countries.

vii. To establish fund for the purpose of promoting and financing development projects as well as to provide compensation to member states which may suffer losses as a result of trade liberalization within the Community.