Trade Opportunities
Promotion of Trade and Economic Development
One of the main thrusts of the Florida West Africa Linkage Institute has been
the promotion of trade and economic development in West African countries.
This was encouraged through the identification of existing and potential trading
partners between Florida and West Africa. That information was shared with
the business community and the West African economic advisors through their
Embassies in Washington, D.C.
FLAWI's model for collaboration with West Africa, and its proven success,
can provide the framework for mutually positive educational, cultural and
business exchanges as between the State of Florida and the entire continent
of Africa. It will be beneficial to Florida's internationalizing economy to
build on FLAWI's established ties to the African continent, an emerging market,
and an important part of the world community, which is home to 800 million
consumers and producers.
West Africa is an area of Africa with a large potential for economic importance
to Florida. Postcolonial African governments, many with stable economies,
are now seeking trade with the United States rather than with European countries.
West Africa's population is double that of Germany and 50% higher than that
of Russia. World trade figures show that the volume of trade with Africa as
a whole nearly doubled between 1980-1994. Africa's exports and imports continue
to rise, and businesses in the United States are becoming aware of this enormous
potential.
Resource Links for Business Development
General International Organizations:
the OAU, the UN, and others Economic Development, Education, & Environmental
Affairs Organizations Health-Related Organizations
- ECOWAS: Plans for the Economic Community of West African States (ECOWAS) were first formally set out at the Monrovia Group meeting of April 1968. The Community was established by the Treaty of Lagos, which was signed by representatives of 15 West African States in Lagos on May 28, 1975. It entered into force in July 1975 when the necessary seven States ratified the Treaty. The first meetings of the Council of Ministers and the Authority of Heads of State and Government took place in Lomé, Togo, November 4-5, 1976 at which time additional protocols to the Treaty were signed. Cape Verde later acceded to the Treaty and thus became the sixteenth Member State of the Community.
- A revised Treaty was signed by the sixteen West African Heads of State on July 24, 1993. The revised Treaty reflects West Africa's regional cooperation experiences over the preceding fifteen years and takes into account the exigencies of continental integration as envisaged in the Treaty of the African Economic Community.
- The principal objectives of the Treaty, to be achieved in stages, is the creation of an economic and monetary union. To this end, a regional trade liberalization scheme has been adopted for the creation of a free trade area by the end of 1999, and a common external tariff is being implemented in phases. The three-phase programme for the free movement of Community citizens has been completed. The Community has been pursuing the physical integration of its Member States through the development and modernization of regional highway and telecommunication networks.
- Member States have committed themselves to the coordination and harmonization of national economic and financial policies in order to enhance the effectiveness of national structural adjustment and economic reform programs. This is also to facilitate the regional approach to economic development and the establishment of a monetary union. The monetary program adopted by the Community has the medium-term objectives of achieving regional convertibility of the nine national currencies and, in the longer term, the creation of a single monetary zone. Meanwhile, an ECOWAS travelers check was launched in October 1998 to facilitate regional travel and commercial transactions.
- Composition 15 member countries: Benin, Burkina Faso, Cape Verde, Côte d'Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo.
For information in Florida:
Enterprise Florida, Inc. is a partnership between Florida's government and
business leaders and is the principal economic development organization for
the State of Florida. Enterprise Florida's mission is to increase economic
opportunities for all Floridians, by supporting the creation of quality jobs,
a well-trained workforce, and globally competitive businesses.
http://www.eflorida.com/default.htm
contact
Florida West Africa Linkage Institute
University of North Florida ; 1 UNF Drive ; Jacksonville, Florida 32224
Telephone: (904)620-2475, Fax: (904) 620-3870
