Economic and Monetary Community of Central Africa
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[[Image:Africa-countries-CEMAC.png|thumb|States of CEMAC]]
The '''Economic and Monetary Community of Central Africa''' (or '''CEMAC''' from its name in [[French language|French]], ''Communauté Économique et Monétaire de l'Afrique Centrale'') is an organization of states of [[Central Africa]] established to promote [[economic integration]] among countries that share a common currency, the [[CFA franc]].
CEMAC is the [[successor]] of the [[Customs and Economic Union of Central Africa]] (UDEAC), which it completely superseded in [[June 1999]] (through an agreement from 1994).
Its member states are [[Cameroon]], the [[Central African Republic]], [[Chad]], the [[Republic of the Congo]], [[Equatorial Guinea]] and [[Gabon]].
CEMAC's objectives are the promotion of trade, the institution of a genuine common market, and greater solidarity among peoples and towards under-privileged countries and regions.<ref>[http://www.izf.net/izf/FicheIdentite/CEMAC.htm] Communauté Économique et Monétaire de l'Afrique Centrale (CEMAC)</ref> In 1994, it succeeded in introducing quota restrictions and reductions in the range and amount of tariffs. Currently, CEMAC countries share a common financial, regulatory, and legal structure, and maintain a common external tariff on imports from non-CEMAC countries. In theory, tariffs have been eliminated on trade within CEMAC, but full implementation of this has been delayed. Movement of capital within CEMAC is free.<ref>“National Trade Estimates Report – Cameroon” US Fed News, 31 March 2006</ref>
On [[January 24]] [[2003]], the [[European Union]] (EU) concluded a financial agreement with [[ECCAS]] and CEMAC, conditional on ECCAS and CEMAC merging into one organization, with ECCAS taking responsibility for the peace and security of the sub-region through its security pact COPAX.
CEMAC is not one of the pillars of the [[African Economic Community]], but its members are associated with it through [[Economic Community of Central African States]] (ECCAS).
==Comparison with other regional blocs==
{{Most Active Regional blocs}}
==References==
{{Politics of the African Union mini}}
<references/>
==See also==
* [[Currency Union]]
* [[Trade bloc]]
* [[African Economic Community]]
* [[West African Economic and Monetary Union]] (UEMOA)
* [[Eco (currency)|Eco]] of the [[West African Monetary Zone]] in ECOWAS
==External links==
*[http://www.cemac.cf/ CEMAC website]
* [http://www.worldtradelaw.net/fta/agreements/cemacfta.pdf CEMAC Treaty (in French)]
[[Category:African Union]]
[[Category:International economic organizations]]
[[Category:International organizations of Africa]]
[[Category:Economic Community of Central African States]]
[[Category:Economy of Cameroon]]
[[Category:Economy of the Central African Republic]]
[[Category:Economy of Chad]]
[[Category:Economy of the Republic of the Congo]]
[[Category:Economy of Equatorial Guinea]]
[[Category:Economy of Gabon]]
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[[bg:Централноафриканска валутно-икономическа общност]]
[[de:Zentralafrikanische Wirtschafts- und Währungsgemeinschaft]]
[[es:Comunidad Económica y Monetaria de África Central]]
[[fr:Communauté économique et monétaire de l'Afrique centrale]]
[[it:Comunità Economica e Monetaria dell'Africa Centrale]]
[[nl:Economische en Monetaire Gemeenschap van Centraal-Afrika]]
[[pt:Comunidade Económica e Monetária da África Central]]
[[ru:Центральноафриканское валютно-экономическое сообщество]]
[[sr:Економска и монетарна заједница Централне Африке]]