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SS3: COMMERCE - 2ND TERM

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The European Union was established by the treaty of Rome, Italy in 1957 by six European countries which are;

  1. France
  2. West Germany
  3. Italy
  4. Belgium
  5. The Netherlands
  6. Luxemburg

Objectives of European Union (EU)

  1. To eliminate all tariffs and quotas between member countries
  2. To establish common external tariffs on all goods imported from outside the EEC.
  3. To encourage the free movement of service, capital, and people
  4. To evolve common policies for agriculture, transport, and communication
  5. To establish currency fluctuations between EU countries.
  6. To maintain a free trade area through the removal of trade barriers

Evaluation Questions

  1. List the members of WACH
  2. Trace the history of WACH/WAMA
  3. State three objectives of WACH
  4. Enumerate two problems of WACH

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