aim - to promote regional economic cooperation
members - (15) Benin, Burkina Faso, Cape Verde, Cote d'Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo
Economic Cooperation Organization (ECO): established - 27-29 January 1985
aim - to promote regional cooperation in trade, transportation, communications, tourism, cultural affairs, and economic development
members - (10) Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan, Uzbekistan
associate member - (1) "Turkish Republic of Northern Cyprus"
Economic and Monetary Union (EMU): note - an integral part of the
European Union; also known as the European Economic and Monetary Union
proposed - 1-2 December 1969 at summit conference of heads of government; signed - 7 February 1992 - Maastricht Treaty
aim - to promote a single market by creating a single currency, the euro; timetable - 2 May 1998: European exchange rates fixed for 1 January 1999; 1 January 1999: all banks and stock exchanges begin using euros; 1 January 2002: the euro goes into circulation; 1 July 2002 local currencies no longer accepted
members - (12) Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain; note - Denmark, Sweden, and UK decided not to join