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WT/TPR/S/322/Rev.1 â¢ Cabo Verde - 20 2.3.2 Regional and preferential agreements 184.108.40.206 African Union and African Economic Community 2.18. Cabo Verde signed the Treaty Establishing the African Economic Community on 3 June 1991, and is thus a founding member of the African Union, the successor to the Organization of African Unity (OAU). The African Economic Community aims at the establishment of a monetary and economic union amongst its members by 2034. 2.19. Under the New Partnership for African Development (NEPAD), adopted at the 37 th Summit of the OAU in July 2001 as an instrument to link Africa and the international community, Cabo Verde participates in various programmes and themes fostering regional integration, economic management, entrepreneurial development, agricultural diversification, new information and communication technologies, etc. A National Commission, acting as an interface between Cabo Verde and officials responsible for the implementation of NEPAD programmes, was set up in 2002.14 The commission (DNAPEC) is currently located in the Ministry of Foreign Affairs. 220.127.116.11 ECOWAS 2.20. Cabo Verde became part of the Economic Community of West African States (ECOWAS) in 1976. The institutional framework of ECOWAS comprises a Conference of Heads of State and Government, a Commission, a Parliament, a Court of Justice, and the West African Investment and Development Bank. The ECOWAS Treaty calls for free trade, free movement of persons, the right of residence and establishment, free movement of capital, and an Economic Union with a common currency.15 At present, Cabo Verde only accords the free movement of persons to citizens of other ECOWAS States.16 Cabo Verde does not participate in the West African Economic and Monetary Union (WAEMU).17 2.21. Free trade among ECOWAS member States is promoted through the ECOWAS Trade Liberalization Scheme (ETLS). At the outset (in 1979), the scheme covered only agricultural products, handicrafts, and unprocessed goods. The ETLS was extended to industrial goods in 1990, and the approval process for granting duty free circulation of manufactured products was made easier in 2002. Under current procedures, each member State has a National Approvals Committee (NAC) tasked with the examination of applications from manufacturers for ECOWAS origin for the goods in question.18 If the ECOWAS rules of origin (section 3.2.4) are met, the NAC approval is communicated to the ECOWAS Commission which, in turn, notifies all ECOWAS member States of the approved enterprises and products. According to the Cabo Verdean authorities, the process had been completed for six local companies by early 2015; SOCAL for leather shoes (natural and synthetic), Ceris (beer), Technicil (mineral water), Polineat (basalt stone), BBS and Fortemoio (ornamental stones). Despite all efforts to promote intra-ECOWAS trade, Cabo Verde's commercial exchanges with its ECOWAS partners have by-and-large been negligible so far (section 1.3). 2.22. ECOWAS countries decided to develop a common agricultural policy (ECOWAP) in 2005. Under ECOWAP, each member State develops a national agricultural strategy, and priorities are set for investments at the national and regional level (Regional Agricultural Investment Plan RAIP). The ECOWAP promotes food sovereignty, i.e. a reduction in the region's dependence on 14 Panapress online information. Viewed at: http://www.panapress.com/Cape-Verde-to-set-up-NEPADCommission--13-466973-18-lang2-index.html. 15 In addition to the ECOWAS Treaty itself, Cabo Verde has signed the ECOWAS Protocol on Movement of Persons and Establishment (1979), the ECOWAS Protocol on Community Enterprises (1984), and the ECOWAS Energy Protocol (2003). 16 A residence permit must be obtained within 90 days of the arrival date, and is conditional on employment. Cabo Verde is considering participation in the regional third-party motor vehicle insurance scheme. 17 The members of WAEMU are Benin, Burkina Faso, CÃ´te d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. 18 Resolution No. 45/2010 of 30 August 2010 established the NAC of Cabo Verde. The six members of the Committee represent the ministry responsible for trade, the ECOWAS unit, the General Directorate of Customs, CVI, and the Chambers of Commerce of Sotavento and Barlavento.