Trading Blocs in Africa.
– The common market for Eastern and Southern Africa (COMESA)
– The East African co-operation (EAC).
– Southern African Development community. (SADC)
– Economic Community of West Africa. (ECOWAS)
The following are Benefits of trading blocks:
- They create a large market for goods to be bought and sold.
- They help to create harmony and co-operation among the member states.
- The reduction of tariffs makes the goods cheaper to the people in the regions.
- The expanded market for goods has promoted industrial development as the demand for goods increases.
- Interstate trade has encouraged the development of transport and communications.
- The trade between the countries has created job opportunities which have led to a high standard of living.
- Trade in the region has stimulated agricultural development.
- Has reduced the reliance of countries in Africa on goods and services from other parts of the world.
- They have made it easier for goods to be readily available to the people of the