Economic and Monetary Community of Central Africa 3343316 221388187 2008-06-24T08:43:55Z TXiKiBoT 3171782 robot Adding: [[bg:Централноафриканска валутно-икономическа общност]] [[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 CEMAC is the [[successor]] of the [[Customs and Economic Union of Central Africa]] (UDEAC), which it completely superseded in [[June 1999]] (through an agreement from 1994).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]] {{AfricanUnion-stub}} {{econ-stub}} [[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]]