Economic and Monetary Community of Central Africa
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The Economic and Monetary Community of Central Africa (or CEMAC from its name in 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CEMAC is the successor of the Customs and Economic Union of Central Africa (UDEAC), which it completely superseded in June 1999 (through an agreement from 1994).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.
On 24 January 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
| Regional bloc 1 | Area (km²) | Population | GDP (PPP) ($US) | Member states 1 | |
|---|---|---|---|---|---|
| in millions | per capita | ||||
| EU | 3,977,487 | 460,124,266 | 11,723,816 | 25,480 | 25 |
| CARICOM | 462,344 | 14,565,083 | 64,219 | 4,409 | 14+1 3 |
| ECOWAS | 5,112,903 | 251,646,263 | 342,519 | 1,361 | 15 |
| CEMAC | 3,020,142 | 34,970,529 | 85,136 | 2,435 | 6 |
| EAC | 1,763,777 | 97,865,428 | 104,239 | 1,065 | 3 |
| CSN | 17,339,153 | 370,158,470 | 2,868,430 | 7,749 | 10 |
| GCC | 2,285,844 | 35,869,438 | 536,223 | 14,949 | 6 |
| SACU | 2,693,418 | 51,055,878 | 541,433 | 10,605 | 5 |
| COMESA | 3,779,427 | 118,950,321 | 141,962 | 1,193 | 5 |
| NAFTA | 21,588,638 | 430,495,039 | 12,889,900 | 29,942 | 3 |
| ASEAN | 4,400,000 | 553,900,000 | 2,172,000 | 4,044 | 10 |
| SAARC | 5,136,740 | 1,467,255,669 | 4,074,031 | 2,777 | 8 |
| Agadir | 1,703,910 | 126,066,286 | 513,674 | 4,075 | 4 |
| EurAsEC | 20,789,100 | 208,067,618 | 1,689,137 | 8,118 | 6 |
| CACM | 422,614 | 37,816,598 | 159,536 | 4,219 | 5 |
| PARTA | 528,151 | 7,810,905 | 23,074 | 2,954 | 12+2 3 |
| Reference blocs and countries 2 | Area (km²) | Population | GDP (PPP) ($US) | Political divisions | |
| in millions | per capita | ||||
| UN | 133,178,011 | 6,411,682,270 | 55,167,630 | 8,604 | 192 |
| Canada | 9,984,670 | 32,507,874 | 1,077,000 | 34,273 | 13 |
| China (PRC) 4 | 9,596,960 | 1,306,847,624 | 8,182,000 | 6,300 | 33 |
| India | 3,287,590 | 1,102,600,000 | 3,433,000 | 3,100 | 35 |
| Russia | 17,075,200 | 143,782,338 | 1,282,000 | 8,900 | 89 |
| USA | 9,631,418 | 296,900,571 | 11,190,000 | 39,100 | 50 |
| 1 Including data only for full and most active members 2 The first two states in the World by area, population and GDP (PPP) 3 Including non-sovereign autonomous entities of other states 4 Data for the People's Republic of China does not include Hong Kong, Macau and regions administered by the Republic of China (Taiwan). ██ ██ During 2004. Source: CIA World Factbook 2005, IMF WEO Database | |||||
See also
- Currency Union
- Trade bloc
- African Economic Community
- West African Economic and Monetary Union (UEMOA)
- Eco of the West African Monetary Zone in ECOWAS
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