Today's Brief 10/10/2024
- Smriti IASxp
- Oct 10, 2024
- 3 min read
IE Quick Analysis:
JN Quick Analysis:
The Economic Community of West African States (ECOWAS)(GS 2,IR) is a regional intergovernmental organization that aims to promote economic integration, cooperation, and development among its member states in West Africa. It was established on May 28, 1975, and its headquarters are located in Abuja, Nigeria.
Member States:
Benin
Burkina Faso
Cape Verde
Côte d'Ivoire
The Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Goals and Objectives:
To promote economic integration among member states through the elimination of trade barriers, the harmonization of economic policies, and the creation of a common market.
To foster regional cooperation in areas such as agriculture, industry, transport, energy, and telecommunications.
To promote peace, security, and stability in the region through conflict prevention, resolution, and management.
To enhance social and cultural development among member states.
Key Initiatives:
The West African Monetary Zone (WAMZ), which aims to establish a common currency for the region.
The West African Power Pool (WAPP), which seeks to integrate the electricity grids of member states.
The West African Economic and Monetary Union (WAEMU), which is a subregional organization that has already established a common currency, the West African CFA franc.
ECOWAS has played a significant role in promoting regional cooperation and development in West Africa. However, it has also faced challenges, such as political instability, economic disparities, and the threat of terrorism. Despite these challenges, ECOWAS remains an important institution for the region and continues to work towards achieving its goals.
ASEAN(GS 2,IR): Prime Minister Narendra Modi embarked on a two-day visit to Vientiane, Laos, this morning. In his departure statement, Mr. Modi said he is embarking on a two-day visit to Vientiane, Lao PDR, at the invitation of Prime Minister Sonexay Siphandone to participate in the 21st ASEAN-India and the 19th East Asia Summit.
Association of Southeast Asian Nations, is a regional intergovernmental organization comprising 10 Southeast Asian countries. It was established on August 8, 1967, with the primary aim of promoting political and economic cooperation, peace, stability, and cultural exchange among its members.
The founding members were Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Over time, ASEAN expanded to include Brunei, Vietnam, Laos, Myanmar, and Cambodia.
Key Objectives:
Economic Cooperation: ASEAN works to promote economic integration, reduce trade barriers, and create a common market. The ASEAN Free Trade Area (AFTA) is a significant initiative in this regard.
Political and Security Cooperation: ASEAN fosters regional stability through peaceful dialogue and non-interference in member states' internal affairs.
Cultural and Social Development: It encourages collaboration in areas like education, human rights, and environmental protection.
Regional Peace and Stability: ASEAN plays a role in regional diplomacy and conflict resolution.
Key Agreements:
ASEAN Charter (2008): Established the legal and institutional framework for ASEAN as a rule-based organization.
ASEAN Economic Community (AEC): Aims to create a single market and production base in the region.
ASEAN Members:
Indonesia
Malaysia
Philippines
Singapore
Thailand
Brunei
Vietnam
Laos
Myanmar
Cambodia
Dialogue Partners:
ASEAN maintains close relationships with external partners like China, Japan, South Korea, India, the United States, Russia, and the European Union, through mechanisms like the ASEAN Plus Three and the East Asia Summit.
ASEAN plays a critical role in the geopolitics of the Asia-Pacific region, promoting dialogue and cooperation among its member states and partners.\
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