ECOWAS REVISED TREATY CONVINCED that the integrationof the Member Statesinto a viable regional Community may demand the partial and gradual pooling of national sovereignties to the Community within the context of a collective political will; ACCEPTING the need to establish Community Institutions vested with relevant and adequate powers; NOTING that the present bilateral and multilateral forms of economic co-operation within the region open up perspectives for more extensive co-operation; ACCEPTING the need to face together the political, economic and socio-cultural challenges ofthepresent and thefuture, and topool together theresources ofourpeoples while respecting ourdiversities for the most rapid and optimum expansion ofthe region's productive capacity; BEARING INMIND ALSO the Lagos Plan ofAction and the Final Act of Lagos of April 1980 stipulating the establishment, by the year 2000, of an African Economic Community based onexisting and future regional economic communities; MINDFULOF the Treaty establishing the African Economic Community signed in Abuja on 3 June, 1991; AFFIRMING that our final goal is the accelerated and sustained economic development ofMember States, culminating in the economic union ofWest Africa; BEARING IN MIND our Decision A/DEC. 10/5/90 of30 May, 1990 relating to the establishment ofaCommittee ofEminent Persons to submit proposals for the review of the Treaty; AWARE that the review ofthe Treaty arises, inter alia, from the need for the Community toadapt tothe changes on the international scene in order toderive greater benefits from those changes; CONSIDERING ALSO the need to modify the Community's strategies in order to accelerate the economic integration process in the region; ACCEPTING the need to share the benefits ofeconomic co-operation and integration amongMemberStates in a just and equitable manner; HAVE DECIDED to revise the Treaty of 28 May, 1975 establishing the Economic Community of West African States (ECOWAS) and have accordingly agreed as follows: