Regional economic communities
What are regional economic communities?
Regional economic communities (RECs) are intergovernmental organizations set up by groups of countries to foster stronger economic ties and cooperation. Well known examples include the Economic Community of West African States (ECOWAS) and the Southern African Development Community (SADC).
Why does PWYP focus on regional economic communities?
The subject of transparency in the extractive industry has been almost completely absent from the agenda of the RECs. This silence negates the essence of the New Partnership for Africa’s Development (NEPAD) and the principles of its Africa Peer Review Mechanism (APRM). There is a need to ensure that revenue transparency is meaningfully addressed in the context of anti-corruption and good governance debates within these institutions. The transparent and accountable management of extractive industry revenues forms an important basis for improved governance and poverty reduction.
Efforts are ongoing in a number of countries in Africa to create effective institutions for social, economic and political dialogue that will facilitate participation by civil society, the private sector and governments in decision-making processes. In addition these efforts aim to establish effective mechanisms to encourage greater economic integration, peace and prosperity on the continent. However on issues surrounding good governance and transparency, much still remains to be done at regional levels.
PWYP’s work with RECs
RECs will be an increasing focus of PWYP regional advocacy, especially in Africa. Nascent efforts that concentrate on RECs are exemplified by PWYP member Oxfam America’s recent agreement on 4 April to collaborate with ECOWAS to create a common mining code for all of West Africa. The new code will help the 15 member countries adhere to uniform standards created jointly by governments and citizens, and increase protection of human rights and the environment while promoting investment.
For more information please contact Joseph Williams, PWYP Information and Advocacy Officer.
