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Economic And Monetary Community Of Central Africa (CEMAC)
Headquarters: Bangui - Central African Republic
The Treaty establishing the Economic and Monetary Community of Central Africa (CEMAC) was signed in N’Djamena, Tchad in March 1994 by the 6 leaders of the former Customs Union of Central African States (UDEAC) created in 1964 with the signature of the Brazzaville Treaty. The activities of CEMAC started officially in 1999 with the establishment of the institutions and the adoption of a plan action called Declaration of Malabo. The highest assembly of the community is the Conference of the Heads of States which meets at least once a year to define the overall guidelines of the grouping’s policy. Other assemblies are the Council of Ministers, Ministerial Committee and the Commission of the CEMAC and a Tribunal of Justice located in N’Djamena. A Inter-parliamentarian was also created with 5 members from which state with intentions to create a Community Parliament to be located in Malabo, Guinea Equatorial.
The CEMAC Executive Secretariat is charged with monitoring the implementation of agreed measures. The main policy directions for the CEMAC are in creating a fully functional and effective customs union, ensuring a system of macroeconomic surveillance and promoting sectoral policies that help create a common market for goods, capital, and services.