The business world's most significant trend in the new millennium is global competitiveness. Facing opportunities and challenges posed by the paradigm of the global economy, nations are moving to integrate economies with neighbors in order to create a larger of intense competitive regional economic blocs; and engaging in international trading as a regional power... displayed 300 characters
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The combine impact of less developed economies can take advantage of international terms of trade, and the legacy of colonialism, mis-rule, and conflict has meant that Africa has not yet assumed a global market share - despite the significant market size. Africa has seven integrations of regional economic communities which are considers the building blocks for the African Economic Community:
? The Arab Maghreb Union (UMA)
o Algeria, Libya, Mauritania, Morocco, and Tunisia
? The Common Market for Eastern and South Africa (COMSEA)
o Angola, Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Madagascar, Malawi, Mauritius, Namibia, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia, and Zimbabwe
? The Community of Sahel-Saharan States (CEN-SAD)
o Benin, Burkina Faso, Central African Republic, Chad, Djibouti, Egypt, Eritrea, Gambia, Libya, Mali, Morocco, Niger, Nigeria, Senegal, Somalia, Sudan, Togo, and Tunisia
? The Economic Community of Central African States (ECCAS)
o Angola, Burundi, Cameroon, Central African Republic, Chad, Democratic Republic of Congo, Republic of Congo, Equatorial Guinea, Gabon, Sao Tome and Principe, and Rwanda
? The Economic Community of West African States (ECOWAS)
o Benin, Burkina Faso, Cape Verde, Cote d'lvoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo
? The Inter-Governmental Authority of Development (IGAD)
o Djibouti, Eritrea, Ethiopia, Kenya, Somalia, Sudan, and Uganda
? The Southern African Development Community (SADC)
o Angola, Botswana, Democratic Republic of Congo, Lesotho, Malawi, Mauritius, Mozambique, Namibia Seychelles, South Africa, Swaziland, Tanzania, Zambia, and Zimbabwe
These seven trade agreements, and their members, help recognize the importance of economic integration for promotion intraregional trade and accelerating development, which were established by Africa's leaders... displayed 300 characters
