Economic and trade integration in West Africa: The role of the West African Economic and Monetary Union (WAEMU)

This paper examines the economic and trade integration of West Africa, with a focus on the role of the West African Economic and Monetary Union (WAEMU) in fostering regional unity and economic convergence. Established in 1994, WAEMU aims to create a cohesive economic space by harmonising policies in key areas such as trade, infrastructure, and currency. Despite its ambitious framework, intra-regional trade within WAEMU remains low, and the expected outcomes of economic integration have not been fully realised. This study investigates the reasons behind this paradox, exploring the challenges of non-tariff barriers, infrastructure deficits, and political dynamics. The paper also evaluates the potential impact of strategic initiatives, such as the IMPACT 2030 plan, in overcoming these constraints and achieving deeper economic integration. Through a comprehensive analysis of WAEMU's institutional architecture, performance data, and policy recommendations, the paper provides insights into the path forward for West Africa's economic future. Keywords: Regional Integration, Waemu, Infrastructure, Non-Tariff Barriers, CFA Franc, AFCFTA