Central African Economic and Monetary Community (CEMAC): cemac.cf/ The Economic and Monetary Community of Central Africa (or CEMAC of the French name: Monetary economic community and Central Africa, Comunidad Econémica y Monetaria de éfrica Central and in Portuguese: Comunidade Econémica e Monetéria da monetéria da éfrica Central) is an organization of Central African states created by Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea and Gabon to promote economic integration between countries with a common currency. [8] UDEAC has signed a contract for the creation of CEMAC to promote the entire process of sub-regional integration by forming a monetary union with the Central African CFA franc as a common currency; it was officially replaced by CEMAC in June 1999 (by 1994 agreement). [9] CEMAC`s similar free trade area has been hit by corruption, national egos and a limitation of movement that has hampered the initiative. In 2007, Rwanda decided to leave the Organization[6] in order to eliminate duplication of membership in regional trading blocs and to better focus on its membership in abc and COMESA. Rwanda was a founding member of the organization and had been a member of the organization since October 18, 1981. She joined ECCAS in 2016. [7] CEMAC`s objectives are to promote trade, create a genuine common market and increase solidarity between peoples and disadvantaged countries and regions. [10] In 1994, it succeeded in introducing quota restrictions and tariff reductions. Currently, CEMAC countries have a common financial, regulatory and legal structure and maintain a common external tariff for imports from non-cemac countries.

In theory, trade tariffs within CEMAC have been abolished, but full implementation of these tariffs has been delayed. Capital movements within CEMAC are free. [11] The Customs and Economic Union of Central Africa (or UDEAC on behalf of France, Central African Union), (Spanish: Unién Aduanera y Econémica de Éfrica Central, VAEAC,[1] (Portuguese: Unio Aduaneira e Econémica da Éfrica Central, VAEAC), was founded in 1964 by the Brazzaville Treaty[1], a customs union with free trade between members and a common tariff for other countries. The treaty came into force in 1966, after being ratified by the five member countries at the time, namely Cameroon, the Central African Republic, Chad, the Republic of Congo and Gabon. Equatorial Guinea joined the Union on 19 December 1983. [2] [3] UdeAC has signed a treaty establishing a Central African Economic and Monetary Community (CEMAC) to promote the entire process of sub-regional integration by forming a monetary union with the Central African FRANC as the single currency; it was officially replaced by CEMAC in June 1999 (by 1994 agreement).