Central African Economic and Monetary Community (CEMAC)

The objectives of the subject “Central African Economic and Monetary Community (CEMAC)” are the following:

1. To understand the objectives of the Central African Economic and Monetary Community (CEMAC)
2. To evaluate the benefits for the member countries as well as the areas of cooperation of the CEMAC
3. To analyse the economic and the trade integration process among the Central African Economic and Monetary Community (CEMAC) member countries
4. To learn about the customs procedures of the Economic and Monetary Union and the CEMAC Sydonia system
5. To know the regional economic programme of the Central African Economic and Monetary Community (creation of an integrated economic space in 2025)
6. To analyse the role of the CEMAC member institutions: BEAC and BDEAC

Contents available in French (optional contents):

1. Reform of the payment system in the CEMAC countries
2. Automated System for Large Amounts
3. Teleclearing system in Central Africa
4. Economic Commission on Cattle, Meat and Fish Resources
5. International Commission of the Congo-Oubangui-Sangha Basin
6. Economic projections by country
7. Customs of the Central African Economic and Monetary Community
8. Customs Tariff of the CEMAC member countries
9. Customs Procedures
10. Models of statements
11. Custom system: Sydonia

Description: Central African Economic and Monetary Community (CEMAC).

The monetary integration in the region of the Central African Economic and Monetary Community (CEMAC) is fully effective, although there are some obstacles to the free movement of people, goods, and services.

The Economic and Monetary Community of the Central African States (CEMAC) includes six Central African Countries: Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo.

The main objective of the Central African Economic and Monetary Community (CEMAC) is to promote the harmonious development of the Member States in the context of the establishment of a true CEMAC Common Market (free movement of persons, goods, capitals, and services) by establishing an economic and monetary union.

The Central African Economic and Monetary Community (CEMAC):

1. Population of the CEMAC Region: 44 million people
2. Area: 3 million square kilometres
3. Average growth of their economies: 4% annually
4. Cameroon provides almost 29% of the regional GDP
5. The Second-largest tropical forest zone in the World (Congo Basin)
6. Main resources: petrol, gas, minerals, gold, manganese, diamonds, and uranium
7. All the CEMAC countries belong to the Western CFA Zone

The Central African Economic and Monetary Community (CEMAC) belongs to the Central African Economic Area (African Civilisation).

The Bank of Central African States (BEAC) is an African international institution governed by the Convention establishing the Monetary Union of Central Africa (UMAC), the Monetary Cooperation Convention concluded between France and the six Member States of the UMAC: Republic of Cameroon, the Central African Republic, the Republic of the Congo, the Republic of Gabon, the Republic of Equatorial Guinea, and the Republic of Chad.

The Development Bank of Central African States (BDEAC) is the finance institution for the development of the Economic and Monetary Community of the Central African States (CEMAC): Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea, and Chad.

The largest ports in the CEMAC region:

1. Port of Douala
2. Port of Pointe Noire
3. Port of Malabo
4. Port of Libreville

The main transit corridors of the CEMAC ZONE:

1. Trans-Sahelian Highway
2. Tripoli-Windhoek Corridor
3. Lagos-Mombasa

EENI African Portal

See also: Economic Community of Central African States