(a) Explain the term economic integration.
(b) Highlight any four problems of economic integration in West Africa.
Explanation
(a) Economic integration is a form of international cooperation among nations to foster their economic interests. There are different levels of economic integration such as free trade area, custom's union, common market and economic union.
(b) The problems of economic integration include the following:
(i) Uneven development among West African nations creates fear and suspicion of domination.
(ii) There are differences in economic and political ideology which delay decision making process.
(iii) There is divided loyalty to former colonial masters and the union may hamper effective integration.
(iv) There are fiscal and monetary differences among the nations in West Africa.
(v) Inadequate infrastructural facilities such as roads and telecommunication are one of the major problems.
(vi) Absence of large and developed markets among member nations are among the problem.
(vii) Political instability in the region has slowed down the pace of economic integration.
(viii) The members feel reluctant to surrender their economic independence.
(ix) There is inadequacy of capital within the region.
(x) Language barrier also affects economic integration.