The Union Economy et Mon é taire Ouest Africa (UEMOA), referred to as West Africa Economic and Monetary Union, was established on January 10, 1994, with its headquarters inburkina faso capitalOuagadougou, whose predecessor is“West African Monetary Union”。The West African Economic and Monetary Union Treaty came into force on August 1 of the same year.The purpose of the Alliance is to promote the flow of personnel, materials and funds among member countries, and ultimately establish the West African Community.There are 8 member states in total.[1]
Founded on January 10, 1994, its predecessor is“West African Monetary Union”。The West African Economic and Monetary Union Treaty came into force on August 1 of the same year.[1]
Organization purpose
Promote the flow of people, goods and funds among member countries, and finally establish the West African Community.[1]
(1) Summit of Heads of State and Government: the highest authority, which meets at least once a year, and the executive chairman is held by the heads of state of member countries in turn.
(2) Council of Ministers: 2 ministers from member states, including finance ministers, participate in the Council of Ministers and hold at least 2 meetings every year.
(3) Alliance Committee: the permanent leading body of the Alliance, composed of one member elected by each member state.A member who is not a representative of a country sent abroad has a term of office of four years. He or she may not be removed halfway and may be re elected.
(4) Federal Court: formally established on January 27, 1995, composed of one member elected by each member state for a six-year term and renewable.[4]
According to the Alliance Treaty, there are also the Alliance Audit Court, the Chamber of Commerce and other institutions.[6]
The Alliance has two banks:
(1) Central Bank of West African States: it issues the unified currency of the West African Economic and Monetary Union (hereinafter referred to as the "West African Franc"), headquartered in Dakar, Senegal, and has branches in all member countries.The President is Jean Claude Kasi Bru (Ivorian), who took office in July 2022.
(2) West Africa Development Bank (hereinafter referred to as "West Africa Bank"): a regional intergovernmental development finance institution, headquartered in Lom é, Togo, aims to promote balanced economic development and economic integration in West Africa of the member countries of the Alliance.The capital of Bank of West Africa is subscribed by its shareholders, who are divided into two categories: A and B. Category A refers to members in the region, including Benin, Burkina Faso, C ô te d'Ivoire, Guinea Bissau, Mali, Niger, Senegal, Togo and the Central Bank of West African States,Category B refers to members outside the region, including France, China, Belgium, Germany, India, Morocco, the European Investment Bank and the African Development Bank.The chairman is Serge Ekwe (from Benin), who will take office in September 2020 for a term of six years.[1][4][6]
The executive chairman of the Summit of Heads of State and Government is held by the heads of State of the member countries in turn for two years. The current executive chairman is the President of Niger.The current executive chairman of the ministerial meeting is Adama Koulibaly, Minister of Economy and Finance of C ô te d'Ivoire.The current chairman of the Union Commission is Abdoulaye DIOP of Senegal.[4][6-7]
So far, the Alliance has held 23 sessions of summit meetings of heads of state and government, respectively in Ouagadougou (May 1996, January 2007, January 2008, March 2009), Lom é (June 1997, January 1999, December 1999, June 2012, July 2018), Bamako (December 2000, February 2010, January 2011)Dakar (December 2001, January 2003, October 2013, June 2016), Cotonou (January 2015), Niamey (January 2004, March 2005, March 2006) and Abidjan (April 2017, July 2019).
On January 19, 2015, the 18th Summit of Heads of State and Government of the Alliance was held in Cotonou, Benin's economic capital.The meeting adopted the Protocol on Integration, Stability, Growth and Mutual Assistance of the member countries of the Alliance, and adopted the declaration on the theme of "maintaining the online level of debt in the Alliance while paying attention to the quality and sustainability of public debt".
On June 5, 2016, the Special Summit of Heads of State and Government of the Alliance was held in Dakar, the capital of Senegal.The meeting adopted the Declaration on Peace and Security and the Programme of Action, which committed to strengthening cooperation among member countries, maintaining regional peace, security and stability, promoting regional development, taking measures to further deepen the capacity of regional cooperation, and meeting the financing needs of economies.
On April 10, 2017, the Special Summit of Heads of State and Government of the Alliance was held in Abidjan, the capital of C ô te d'Ivoire.The meeting discussed issues such as the operation of the West African franc and the management of the alliance institutions, and appointed Abdalla Brema, a Nigerian, as the new chairman of the alliance committee for a four-year term.
On July 30, 2018, the 20th Summit of Heads of State and Government of the Alliance was held in Lom é, the capital of Togo.The meeting reviewed the implementation of the "Regional Initiative for Sustainable Energy" project and discussed regional peace and security, integration process, common market construction, investment in key areas, food security and other issues.
On July 12, 2019, the 21st Summit of Heads of State and Government of the Alliance was held in Abidjan, C ô te d'Ivoire.The meeting reviewed the 2018 annual report of the Alliance, the annual report of the reform and policy plan, and discussed regional integration, the unified currency of West Africa and other issues.
On April 27, 2020, the Special Video Summit of the Heads of State and Government of the Alliance was held in Abidjan, C ô te d'Ivoire.The meeting discussed the impact of COVID-19 and decided to take measures such as coordinating national border control to better respond to the epidemic.
On March 25, 2021, the 22nd Summit of Heads of State and Government of the Alliance was held by video.The meeting reviewed the 2020 annual report of the Alliance and the report of the Committee on the situation of COVID-19 epidemic in member countries, and discussed how to strengthen epidemic prevention and control, deal with debt issues, and maintain food security.
On January 9, 2022, the Special Summit of Heads of State and Government of the Alliance was held in Accra, Ghana.The meeting discussed the situation in Mali and other countries. The transitional government of Mali decided to suspend its membership because it refused to complete the political transition as soon as possible.
On November 5, 2022, the 23rd Summit of Heads of State and Government of the West African Economic and Monetary Union (WAEMU) was held in Abidjan, the economic capital of C ô te d'Ivoire. The participants exchanged views on issues such as the economic situation and future economic outlook of the Union.
On July 8, 2023, the special summit meeting of WAEMU was held in Guinea Bissau, announcing the restoration of Mali's membership in the organization, which was suspended in January 2022 because the transitional government of Mali refused to complete the political transition as soon as possible.
On February 24, 2024, the special summit meeting of WAEMU was held in Abuja, the capital of Nigeria. The meeting focused on the political, economic and security situation of the member countries of WAEMU.[8]
Relations with China
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In November 2004, the People's Bank of China, on behalf of the Chinese government, signed the Memorandum of Understanding between the People's Bank of China and the West African Development Bank, formally joining the Bank.In June 2011, the board of directors of the Bank of West Africa passed a resolution on 50% capital increase.In September of the same year, the People's Bank of China participated in the capital increase.
In January 2006, the People's Bank of China and the Bank of West Africa signed a bilateral cooperation fund agreement.
In August 2011, China Development Bank Jiangsu Branch signed an agreement with Bank of West Africa in Lom é, promising to provide support for projects in agriculture, energy, transportation, infrastructure and other fields in West Africa and the development of small and medium-sized enterprises in the local private sector.
On February 23-27, 2009, BEA President Biot Chane visited China.
On June 15, 2009, the 73rd Board of Directors of Bank of West Africa was held in Shanghai, which was the first time that the Bank's Board of Directors was held in an Asian country.
On June 16, 2009, the seminar on cooperation and development between China and West Africa was held in Shanghai.Ma Delun, Vice President of the People's Bank of China, and Biot Chane, President of the Bank of West Africa attended the opening ceremony and delivered speeches.
In November 2010, the People's Bank of China and Nanjing University of Finance and Economics jointly held a week-long "Seminar on SME Development and Financial Support" for some officials of the Bank of West Africa.
In July 2013, the People's Bank of China and the Bank of West Africa jointly held a "Business Opportunity Seminar" in Nanjing to introduce the bidding procurement policies of the Bank of West Africa and help Chinese enterprises to deeply understand the business opportunities in West Africa.
On September 5, 2018, Yi Gang, President of the People's Bank of China, met with the visiting President of the Bank of West Africa, Adoveland. The two sides exchanged views on the operation of the Bank of West Africa, China's strengthening cooperation with the Bank of West Africa, and the economic and financial situation in Africa.[2][5]
West Africa Hope
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West African Economic and Monetary Union
The Executive Chairman of the Summit of Heads of State and Government of the West African Economic and Monetary Union and the President of Niger, Mamadou Tandja, said in Niamey, the capital of Niger, on October 30, 2005 that the West African Economic and Monetary Union is one of the 76 million West Africans todayhope。 Tanja was in Niamey Conference Building that dayhostAt the ninth regular summit of the West African Economic and Monetary Union (WAEMU), it was said that integration means producing and selling at all places where there is a need, and that it means feeling at home in each of the eight member countries of the Union.
He was also grateful for the reforms carried out within the West African Economic and Monetary Union in the fields of free circulation of property, legislative coordination and economic policy guidance in order to have greater transparency in the management of "public affairs", as well as for the efforts of the Union in agriculture, energy, minerals, industry, transportation andtelecom, women's promotion, higher education andtrainThrough commonpolicyWe are pleased that the Platform for Action has drawn up a framework for action.
Tandja evaluated the importance of the road taken by the West African Economic and Monetary Union in the past two years.He believes that the West African Economic and Monetary Union is increasingly consolidated and can be quietlyreflectionfuture.He said that there are many examples in this regard. Each member country of the alliance has made considerable efforts within the framework of the alliance construction and has made meaningful progress.
However, Tandja pointed out that for some time, the West African Economic and Monetary Union (WAEMU) has suffered from some economic and social turbulence, which has aggravated itsEconomicsDifficulties.Tandja made a strong appeal to the member countries of the Alliance, so that peace can be further cultivated and consolidated, creating the need for developmentcondition。
Aviation cooperation
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Member States of the West African Economic and Monetary UniontrafficThe Minister adopted a plan in Dakar in March 2002 to strengthen the cooperation between member statestransport aviationCoordination and cooperation in the field.According to this plan, West African Economic and Monetary Union member countries will strive to make all airport facilitiesthe international civil aviation organizationAnd make more efforts to strengthen aviation security, including the establishment of regional aviation security mechanisms, so as toAviation accident, member states cansearchandrescueThe parties cooperate with each other.
Union member states will also establish a regional air transportfundAnd a regional air transportdataCenter, strengthen personnel training, increase investment in air transport, coordinate air transport policies of various countries, and further competitionstandardChange.
The members of the West African Economic and Monetary Union include Benin, Burkina Faso, C ô te d'Ivoire, Mali, Niger, Senegal, Togo and Guinea Bissau.
Anti subsidy
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On June 25, 2002, the meeting of the Ministers of Agriculture of the West African Economic and Monetary Union was held in C ô te d'Ivoire.After consultation, the ministers of the participating countries decided to adopt a commonposition, againstU.S.AAnd the European UnioncottonThe major producing countries subsidize their cotton farmers and demand compensation for the economic losses caused to cotton farmers in West African countries.When discussing the serious situation faced by the cotton industry in West African countries, the ministers said that if necessary, they wouldWorld Trade OrganizationApply.At the same time, the ministers agreed to conduct bilateral negotiations with major cotton producing countries first, so as to make them comply with the WTO rules on canceling and reducing agriculturesubsidyCommitments made.
Cote d'Ivoire Agriculture andAnimal resourcesThe minister pointed out that from 2001 to 2002, the United States provided cotton farmers with the equivalent of 360African franc/Kg (about 700 CFA francs in US dollars),GreeceandSpainThe subsidies are equivalent to 910 CFA francs/kg and 1179 CFA francs/kg respectively.These subsidies have a direct impact on the changes in cotton prices in the international market, threatening the cotton industry in the countries of the West African Economic and Monetary Union and other African countries.andAfrica95% of the cotton and cotton products produced by the state are exported in price competition.Since 2000, changes in cotton prices in the international market may make AfricareformAnd structural adjustment.
The West African Economic and Monetary Union is responsible for rural and environmental developmentcommissionerIt is pointed out that the cotton industry plays an important role in the economy of the alliance countries, and is the main source of income and solution for the rural areas in the regioncountrysideAnd citiesthe laborThe way out.
According to the analysis of some economic circles, if the international cotton price is maintained, the cotton in Africa may be formed due to price subsidiescompeteExcluded from the international market.
Following the conclusion of the West African Economic and Monetary Union (WAEMU) Conference of Ministers of Agriculture, on June 25, 2002, the Conference of Ministers of Agriculture in West and Central Africa was held immediately.The meeting will prepare to draft and formulate the development direction and policy of cotton industry in West and Central Africamemorandum, negotiate the issue of regional integration, andWorld Trade OrganizationPrepare for a new round of negotiations on agriculture.
Coping with crises
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From May 7 to 8, 2008, Sumera Cisse, President of the West African Economic and Monetary Union, andeuropean unionRegional Policy Commissioner Sibner, EU Development andHumanitarian assistanceCommissioner Michel and EU Trade Commissioner Mandelson held consultations on how to strengthen bilateral economic development and regional policy cooperation, as well as the Economic Partnership Agreement under negotiation.The EU and the West African Economic and Monetary Union agreed to strengthen their responsefoodstuffCooperation in the field of crisis and regional integration, and acceleration of the Economic Partnership AgreementnegotiationThe process of.The West African Economic and Monetary Union was established in accordance with the Dakar Agreement signed in Dakar, the capital of Senegal, on January 10, 1994.Initially, it was composed of seven French speaking countries in West Africa: Senegal, Benin, Togo, Niger, Mali, Burkina Faso and Cote d'Ivoire.On May 2, 1997, Guinea Bissau became the eighth member state.
The global food price crisis has become the focus of discussions between Michelle and Sumera Cisse.The two sides reached consensus on the negative impact of rising food prices on the economy and society of West African countries.The two sides agreed to establish the "EU West African Economic and Monetary Union Economic Community of West African States Joint Meeting" as soon as possible to negotiate specific measures to deal with the crisis.
Michel pointed out that in addition to the food related to West African countries implemented by the EUsecurityThe EU will also be committed to formulating medium - and long-term plans involving the adjustment of the agricultural sector in the above-mentioned countries, the formulation of policies to ensure food self-sufficiency, and the improvement of the income of grain farmers.
After concluding the talks with Sumera Cisse, Mandelson said that the two sides were pleased with the smooth progress of the negotiations on the Economic Partnership Agreement between the European Union and the West African Economic and Monetary Union, and both sides committed to maintaining constructive negotiationsatmosphereAnd accelerate the negotiation process.
Increase investment
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In August 2007, the West African Economic and Monetary Union will invest 6 billion dollars in the next five years to improve regional infrastructure to improve people's living standards.Most of this fund will be invested in the construction of transportation facilities, including constructionrailway networkAnd new constructionhighwayEtc.In addition, some funds will also be used for excavationgroundwaterSource, planting for farmerscropsAnd raising animals.
Report abroad
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Ambassador to Cote d'Ivoire Tang Weibin Meets with the Chairman of the West African Economic and Monetary Union Commission
West African Economic and Monetary Union
On May 15, 2018, Ambassador to C ô te d'Ivoire Tang Weibin met with the Chairman of the West African Economic and Monetary Union Commission Brema to exchange views on China Africa investment and financing cooperation and other topics.
Ambassador Tang commented on the recent reports of Cote d'Ivoire, Mali and Burkina FasoBobodiulassoThe three cities congratulated on the joint establishment of special economic zones, believing that this will help promote the development of local agriculture and mineral industries and further promote the economic integration of West Africa.Ambassador Tang thanked President Brema for being invited to attend the "Seminar on Deepening China Africa Investment and Financing Cooperation" held by the Chinese Embassy in Kuwait, and said that China and Africa are a community of shared interests and a community of shared future, and China Africa cooperation faces unprecedented historical opportunities.During the seminar, the two sides will jointly tap the potential of China Africa investment and financing cooperation, explore the opportunities and challenges facing current cooperation, put forward countermeasures and suggestions to promote Africa's sustainable development, and explore new ideas and measures for China Africa investment and financing cooperation.Ambassador Tang said that Africa's industrialization and agricultural modernization cannot be achieved without financing support. The positive impact of China's deepening cooperation with Africa is to "make the cake bigger" and is willing to share the development achievements with all parties.China is willing to continue to work with all parties to help Africa achieve sustainable development and effectively improve the living conditions of African people.
Brema thanked the Embassy for its invitation and said that I highly appreciated the topic setting and schedule of this seminar, and agreed with your analysis.The West African Economic and Monetary Union (WAEMU) has eight member countries. At present, it is vigorously developing infrastructure construction, and financing support is indispensable.China's strong support for Africa's investment and financing has yielded fruitful results, and has also attracted attention from all parties.This seminar will provide a good exchange platform for all parties to deepen the cooperation in Africa China investment and financing.The world situation today is very different from that decades ago, and Africa is also undergoing changes.African countries are willing to, with the support of China, strive to promote a more diversified African partnership and achieve win-win cooperation.[3]
