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SS3: COMMERCE - 2ND TERM

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Economic grouping is the coming together of two or more countries for the purpose of pulling their resources together in certain areas of economic development. It may be in the area of agriculture, transportation finance, trade and commerce, banking and finance, etc. This enables them to promote their economic and business interest and as well as to stimulate Socio-economic cooperation among its members.

Examples of economic grouping in West African Countries are;

  1. Economic Community of West African state (ECOWAS)
  2. Niger Basin Commission (NBC)
  3. Lake Chad Basin Commission (LCBC)
  4. West African Clearing House (WACH)
  5. International Bank for Reconstruction and Development (IBRD).
  6. African Development Bank (ADB)
  7. Mano River Basin

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