An economic grouping constituted largely on the initiative of General GOWON
at Lagos in 1975 by 15 West African countries, and later (1977) joined by Cape
Verde. Its object was to provide a programme of liberalization of trade and to
bring about an eventual customs union. A common fund was established to promote
development projects, with specialized commissions for trade, industry, transport,
and social and cultural affairs. A new treaty was signed in 1993, designating the
creation of a free-trade zone and a single currency as specific objectives and planning
the establishment of a West African parliament and a new ECOWAS court of justice.
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