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What does West African Economic and Monetary Union (UEMOA) mean?

A trade zone agreement between Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo formed to encourage internal development, improve trade deficits, establish uniform tariffs for goods imported from non-member nations, establish a regional stock exchange and a regional banking system. Formerly called the West African Monetary Union.

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