It was also under pressure from the Association of Southeast Asian Nations to embed new costs into the already low intra-regional trade.
It was also thought that these benefits in turn would stimulate capital flows, intra-regional trade and investment, improve balance of payments performance and increase growth and employment.
Analysts believe that the African Free Trade Zone agreement will help intra-regional trade and boost growth.
Investors praised the decision, which they say will boost intra-regional trade, something that has stubbornly remained inferior in volume to that with external markets and regions.
On economic issues, notably the elimination of trade barriers in order to promote intra-regional trade, and the achievement of monetary union, there was little to report.
The two leaders called on ECOWAS members to live up to their obligations to remove obstacles to intra-regional trade and the free movement of people.
So far, for the Latins, the primary benefits of their trade openings have been more efficient economies and a boom in intra-regional trade.
The EC does need exchange-rate stability to promote intra-regional trade and investment, and to prevent competitive devaluation.
Only local production and intra-regional trade are sustainable and able to guarantee access to food for everyone.
We expect this to have a positive effect on trade, contributing to the development of intra-regional trade in particular.