Membership in International Unions
Whether it is an alliance, incorporated union, federal union or supranational body here is the list of unions the country is a member of. Benin is a member of several unions. They are African Union, International Monetary Fund, United Nations, World Bank, World Trade Organization.
Benin is a member of African Union. On 25 May 1963, it joined the AU as a full member state. The African Union (AU) is a continental union consisting of 54 countries in Africa. The AU was established on 26 May 2001 in Addis Ababa and launched on 9 July 2002 in South Africa. The main objectives of the AU are to promote international cooperation and intensify cooperation for development as well as to safeguard the sovereignty and territorial integrity of member states. The most important decisions of the AU are made by the Assembly of the African Union. The assembly is a semi-annual meeting of the heads of state and government of its member states.
International Monetary Fund
Benin is a member of International Monetary Fund. On 10 July 1963, it joined the IMF as a member. The IMF is an organization headquartered in Washington, D.C., of 189 countries working to foster global monetary cooperation, secure financial stability and facilitate international trade. The IMF now plays a central role in the management of balance of payments difficulties and international financial crises. The union is governed by and accountable to the all 189 member countries. As of 2010, the fund had SDR 476.8 billion (about US$ 755.7 billion).
Benin is a member of United Nations. On 20 September 1960, it joined the UN at its inception date as a full member state. Founded in 1945, the United Nations is an intergovernmental organization to promote international co-operation. The work of the United Nations are guided by the principles contained in its founding Charter. It is currently made up of 193 Member States. The headquarters of the United Nations is in Manhattan, New York City, further main offices are situated in Geneva, Nairobi and Vienna. Its objectives include maintaining international peace and security, promoting human rights, fostering social and economic development, protecting the environment, and providing aid.
Benin is a member of World Bank. On 10 July 1963, it became a member of the World Bank Group. The World Bank is international financial institution that provides loans to developing countries. It's like a cooperative, made up of 189 member countries. These member countries are represented by a ministers of finance who are the ultimate policymakers at the World Bank. The World Bank's official goal is the reduction of poverty.
World Trade Organization
Benin is a member of World Trade Organization. On 22 February 1996, it joined the WTO as a member. The World Trade Organization is an intergovernmental organization which regulates international trade. At its core are the WTO agreements ratified in national parliaments. It is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business. The WTO deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence.