African Union to become reality on May 26
The African Union, a new economic bloc that seeks to establish a common market for the continent, will have legal treaty status from May 26, 2001, reported the Organization of African Unity (OAU) on Friday, April 27.
This latest development came after the ratification of an African Union act on Thursday by Nigeria, which brought to 36 the number of African countries to have ratified the act. Two-thirds of the 53 OAU member states need to ratify it before it can come into effect.
Commenting, General Salim Ahmed Salim, Secretary-General of the OAU, said that this was a "historic development with far-reaching consequences for African countries and people and the continent as a whole."
The African Union is the creation of Libyan leader Moammar Qadhafi. Ultimately, it will involve an African central bank, a Court of Justice, a common currency and an African parliament. But the parliament will not have the power to make or enforce laws, meaning that in many respects the union will be symbolic. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)