Within a period not exceeding two (2) years, co-ordination and
harmonisation of tariff and non-tariff systems among the various
regional economic communities with a view to establishing a Customs
Union at the continental level by means of adopting a common
external tariff.
(e)
Fifth Stage:
Within a period not exceeding four (4) years, establishment of an
African Common Market through:
(f)
(i)
The adoption of a common policy in several areas such as
agriculture, transport and communications, industry, energy
and scientific research;
(ii)
The harmonisation of monetary, financial and fiscal policies;
(iii)
The application of the principle of free movement of persons as
well as the provisions herein regarding the rights of residence
and establishment; and
(iv)
Constituting the proper resources of the Community as
provided for in paragraph 2 of Article 82 of this Treaty.
Sixth Stage:
Within a period not exceeding five (5) years:
(i)
Consolidation and strengthening of the structure of the African
Common Market, through including the free movement of
people, goods, capital and services, as well as, the provisions
herein regarding the rights of residence and establishment;
(ii)
Integration of all the sectors namely economic, political, social
and cultural; establishment of a single domestic market and a
Pan-African Economic and Monetary Union;
(iii)
Implementation of the final stage for the setting up of an
African Monetary Union, the establishment of a single African
Central Bank and the creation of a single African Currency;
(iv)
Implementation of the final stage for the setting up of the
structure of the Pan-African Parliament and election of its
members by continental universal suffrage;
(v)
Implementation of the final stage for the harmonisation and
co-ordination process of the activities of regional economic
communities;
(vi)
Implementation of the final stage for the setting up of the
structures of African multi-national enterprises in all sectors;
and
(vii)
Implementation of the final stage for the setting up of the
structures of the executive organs of the Community.
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