Title
Treaty on the West African Economic and Monetary Union (WAEMU)
Preamble
The Government of the Republic of Benin,
The Government of Burkina Faso,
The Government of the Republic of Côte d'ivoire,
The Government of the Republic of Mali,
The Government of the Republic of the Niger,
The Government of the Republic of Senegal
The Government of the Republic of Togo,
Consistent with the objectives of the African Economic Community and the Economic Community of West African States (ECOWAS),
Aware of their mutual benefit from membership in the same monetary union and the need to strengthen the cohesion thereof,
Convinced of the need to extend the economic solidarity between them already monetary policies,
Affirming the need to promote economic and social development of Member States through the harmonisation of their laws and to harmonize their domestic markets and implementation of joint sectoral policies in key sectors of their economies,
Recognizing the interdependence of their economic policies and the need to ensure their convergence,
Determined to comply with the principle of an open, competitive market economy and promote the optimal allocation of resources;
Desiring to complement to this effect the African Economic and Monetary Union (WAEMU) by new transfers of sovereignty and convert the union in Economic and Monetary Union (WAEMU) with a new,
Affirming the need to enhance the mutual supportiveness of their production systems and reducing levels of development disparities among the Member States;
In French only.
These agreements have been communicated to the Secretariat where they may be consulted by interested members 3006 (office).
Stressing that is in line with the efforts of regional integration in Africa, and calling on other West African States that share their objectives to join efforts,
Hereby agree as follows:
Body
Title Preliminary Title: Definitions
Article 1.
For the purposes of this Treaty, the following definitions shall apply:
WAEMU: the West African Economic and Monetary Union, which is the subject of the present Treaty Union: the West African Economic and Monetary Union, which is the subject of the present Treaty: the UEMOA West African Monetary Union referred to in article 2 of this treaty bodies: the organs of the Union as referred to in article I6 of this Treaty Conference: the Conference of Heads of State and Government of the African Union provided for in article 17 of the present Treaty
Council: the Council of Ministers of the Union as provided for in article 20 of this Treaty
Commission: the Commission of the African Union laid down in article 26 of this Treaty Parliamentary Committee means the committee set up by article 35 of this Treaty Parliament: the Union Parliament under article 37 of this Treaty
Court OF JUSTICE: the Court of Justice of the European Union established by article 38 of this Treaty and governed by section I of Protocol No I
Court of Auditors: the Court of Auditors of the union established by article 38 of this Treaty and governed by the Additional Protocol I autonomous specialized agencies: the Central Bank and the BOAD
BCEAO: the Central Bank of West African States referred to in article 41 of this Treaty BOAD: the West African Development Bank referred to in article 41 of this Treaty Union Treaty: the present Treaty
I Protocol No 2: the Protocol provided for in article 38 of this Treaty
Protocol No. it: the Protocol provided for in Article 101 of this Treaty
Additional note: the act referred to in article 19 of this Treaty
Regulation: the act referred to in article 43 of this Treaty decision: the act referred to in article 43 of this Treaty Directive: the act referred to in article 43 of this Treaty recommendation: the act referred to in article 43 of this Treaty opinion: the act referred to in article 43 of this Treaty
The Common Market: unified market established between Member States, referred to in articles 4 and 76 of the present Treaty
Common policies: joint economic policies provided for in articles 62 to 100 of this Treaty
Sectoral policies: sectoral policies in accordance with Article 101 of this Treaty and governed by the Protocol II
Multilateral surveillance mechanism community: the definition and monitoring of economic policies among member States, as provided for in article 63 and covered by articles 64-75 of this Treaty
Right of establishment shall mean the right referred to in article 92 of this Treaty
Member State: the State party to this Treaty as provided for in its preamble
Associate Member means any State eligible to participate in certain policies of the union in accordance with the provisions of article 104 of this Treaty
Third State: any State other than a Member State
Title I. PRINCIPLES AND OBJECTIVES OF THE UNION
Article 2.
In this Treaty, the High Contracting Parties shall complement the African Economic and Monetary Union (WAEMU) imposed them in order to achieve its economic and Monetary Union (WAEMU), hereinafter referred to as the Union.
Article 3.
The Union shall respect for the fundamental rights enshrined in the Universal Declaration of Human Rights of 1948 and the African Charter on Human and Peoples Rights' of 1981.
Article 4.
Without prejudice to the objectives set out in the Treaty of the UEMOA, the Union pursues under the conditions laid down in this Treaty, the following objectives:
a) Enhancing the competitiveness of financial and economic activities of Member States
Within the framework of an open and competitive market and a streamlined and harmonized legal framework;
b) Achieve convergence of economic performance and policy states
Members of the institution of a multilateral surveillance procedure;
c) Among Member States; establish a common market based on the free movement of
Persons, goods, services, capital and the right of establishment of self-employed or employed persons as well as on a common external tariff and a Common Commercial Policy;
d) Coordinate national sectoral policies, through the implementation
Joint actions and possibly of common policies in particular in the following areas: human resources planning, transport and telecommunications, environment, agriculture, industry, energy and mining;
e) Harmonize insofar as necessary for the proper functioning of the Common Market;
The laws of the Member States and more particularly taxation.
Article 5.
In the exercise of powers normative specified by this Treaty and to the extent consistent with the objectives of this Agreement, the bodies of the Union shall promote the establishment of minimum requirements and regulatory frameworks that Member States must be completed as appropriate, in accordance with their respective constitutional requirements.
Article 6.
The Acts adopted by the institutions of the Union for the achievement of the objectives of this Treaty and in accordance with the rules and procedures laid down by the latter, are applied in each Member State contrary notwithstanding any domestic legislation, before or after.
Annexed to the present document.
Article 7.
Member States shall contribute to the achievement of the objectives of the union by adopting any general or specific measures necessary to ensure the fulfilment of their obligations under this Treaty. for this purpose, they shall abstain from any measures likely to impede the implementation of this Treaty and of acts adopted for its implementation.
Article 8.
Upon the entry into force of this Treaty, the Conference of Heads of State and Government lays down general guidelines for the achievement of the objectives of the Union. it is periodically the status of the process of economic and monetary integration and shall, where appropriate, further guidance.
Title II. THE INSTITUTIONAL SYSTEM OF THE UNION
Chapter I. THE STATUS OF THE UNION
Article 9.
The Union shall have legal personality. each Member State it shall enjoy the most extensive legal capacity accorded to legal persons under its domestic legislation. she is represented in judicial proceedings by the Commission. including the capacity to contract, acquire movable and immovable property and property. its contractual liability and the competent national jurisdiction over any dispute relating thereto are governed by the law applicable to the contract in question.
Article 11.
The Staff Regulations of officials of the Union and the Conditions of Employment of Other Servants shall be adopted by the Council acting by a two-thirds majority (2 / 3) of its members on a proposal from the Commission. officials of the Union are generally recruited through NCRE from among nationals of the Member States.
Officials and other servants of the Union shall be bound by professional secrecy even after the termination of their functions.
Article 12.
The Union shall be represented in international relations by the Commission in accordance with the guidelines that may submit to the Council.
Article 13.
The Union shall establish all effective cooperation with regional or subregional organizations. it may have recourse to technical and financial assistance to any State which accepts or international organizations, in so far as such aid is compatible with the objectives of this Treaty.
The cooperation and assistance may be concluded agreements with third countries or international organisations, in accordance with the procedures laid down in article 84 of this Treaty.
Article 14.
Upon the entry into force of this Treaty, the Member States shall consult within the Council in order to take all appropriate measures to eliminate duplication or incompatibilities between the right and the powers of the Union on the one hand, and the agreements concluded by one or more Member States on the other hand, particularly those of establishing international economic organizations.
Article 15.
Member States shall consult each other with a view to take the necessary steps to prevent the functioning of the Union shall not be affected by the measures that one of them could be taken in the event of serious internal disturbances affecting the maintenance of law and order, in time of war or threat of serious international tension constituting war.
Chapter II. THE UNION'S BODIES
Article 16.
The organs of the Union are constituted by:
- the Conference of Heads of State and Government, as defined in article 5 of the WAMU Treaty
- the Council of Ministers, as defined in article 6 of the WAMU Treaty
- the Commission
- the Court of Justice
- the Court of Auditors.
These bodies shall act within the limits of the powers conferred on them by the WAMU Treaty and the present Treaty and under the conditions provided for by those treaties.
An Inter-Parliamentary Committee, advisory bodies and autonomous specialized institutions shall also contribute to the achievement of the objectives of the Union.
Section 1. Management Bodies
Paragraph 1：The Conference of Heads of State and Government
Article 17.
The Conference of Heads of State and Government of the policy defines union. it shall meet at least once a year.
Article 18.
The Conference of Heads of State and Government of monetary union laid down in article 5 of the Treaty on the UEMOA shall carry out the functions assigned to it by this Treaty.
Article 19.
The Conference of Heads of State and Government shall, as necessary, additional to the treaty of acts of the Union.
Additional acts shall be annexed to the Treaty. they shall supplement it without modification. compliance with them shall be binding on the institutions of the Union as well as to the authorities of the Member States.
Paragraph 2: the Council of Ministers
Article 20.
The Council of Ministers of the Union shall ensure the implementation of the overall policy framework established by the Conference of Heads of State and Government.
It shall meet at least twice a year.
Article 21.
The Council of Ministers of the monetary union referred to in article 6 of the Treaty of the UEMOA shall carry out the functions assigned to it by this Treaty.
Article 22.
Whenever the present Treaty provides for the adoption of a legal act of the Council on a proposal from the Commission, the Council may not make amendments to this proposal by acting unanimously.
Article 23.
By way of derogation from article 6 (2) of the Treaty of the UEMOA, in the case of decisions which does not primarily on the economic and financial policies, the Council meeting the competent ministers. the deliberations shall become final after verification by the Ministers in Charge of Economic Affairs, Finance and Planning of their compatibility with economic, financial and monetary policy of the Union.
Political and sovereignty, the Foreign Ministers will serve on the Council of Ministers of WAEMU.
Article 24.
The Council may delegate to the Commission the adoption of regulations implementing acts it imposes.
Implementing such arrangements shall have the same legal force that acts to which they are taken.
Article 25.
The deliberations of the Council shall be prepared by the Committee of Experts composed of representatives of the Member States. the Commission shall be present at the meetings of the Committee. the Council shall adopt by a majority of its members present advice and transmit it to the Council.
The Council shall adopt the rules of procedure of the Committee of Experts by a two-thirds majority (2 / 3) of its members.
Commission (3):
Article 26.
The Commission shall, in order to ensure the proper functioning and the general interest of the Union, the powers conferred on it by this Treaty. to this end, it shall:
- Transmits to the Conference and Council deems it opinions and recommendations
Useful in the maintenance and development of the Union;
- A delegation directly by the Council and under its control, the executive powers
Actions taken;
- Shall implement the budget of the Union;
- Gathers all information in the fulfilment of its mandate;
- An annual report on the functioning and development of the Union is
Inter-Parliamentary provided the Committee and the state legislatures
Members;
- The publication in the Official Gazette of the Union.
Article 27.
The Commission shall consist of seven (7) Board members who are nationals of Member States. the members shall be appointed by the Conference of Heads of State and Government on the basis of the competence criteria and moral integrity.
The term of office of members is four (4) years and may be reappointed. during their term of office, members of the Commission are irrevocable, except in cases of misconduct or incapacity.
The Conference of Heads of State and Government may amend the number of members of the Commission.
Article 28.
The Commission shall perform their functions independently in the general interest of the Union. they shall neither seek nor accept instructions from any Government or other body. Member States shall comply with their independence.
On taking up their duties, Members of the Commission shall undertake, on oath before the Court of Justice, to observe the obligations of independence and honesty inherent in their office. During their term of office they shall not engage in any other occupation, whether gainful or not.
Article 29.
The salaries, allowances and pensions of members of the Commission shall be determined by the Council, acting by a two-thirds majority (2 / 3) of its members.
Article 30.
The term of office of the members of the Commission shall not be interrupted by the resignation or revocation. the revocation is made by the Court of Justice at the request of the Council, to punish the breach of the obligations relating to the performance of the duties of a member of the Commission.
In the event of termination of the mandate of a member of the Commission, he shall be replaced for the remainder of that term.
Except revocation, the members of the Committee shall remain in office until they are replaced.
Article 31.
The Governor of BCEAO participated in its own right, participate in meetings of the Commission. it may be represented. it may request the inclusion of an item in the agenda and propose to the Council to invite the Commission to take action within the framework of its mandate.