10 BENEFITS OF THE TRADING BLOCK TO THE AFRICAN ECONOMY
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Trading Blocs in Africa. The common market for Eastern and Southern Africa (COMESA) The East African co-operation (EAC). Southern African Development community. (SADC) Economic Community of West Africa. (ECOWAS) The following are Benefits of trading blocks: They create a large market for goods to be bought and sold. They help to create harmony and co-operation among the member states. The reduction of tariffs makes the goods cheaper to the people in the regions. The expanded market for goods has promoted industrial development as the demand for goods increases. Interstate trade has encouraged the development of transport and communications. The trade between the countries has created job opportunities which have led to a high standard of living. Trade in the region has stimulated agricultural development. Has reduced the reliance of countries in Africa on goods and services from other parts of the world. They have made it easier for goods to...