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Encyclopedia > Central American Common Market

The Central American Common Market (abbreviated CACM - in Spanish: Mercado Común Centroamericano, abbreviated MCCA) is an economic trade organization between five nations of Central America. It was established on December 13, 1960 between the nations of Guatemala, El Salvador, Honduras and Nicaragua in a conference in Managua. These nations ratified the treaties of membership the following year. Costa Rica joined the CACM in 1963. Commonly, Central America is the region of North America located between the southern border of Mexico and the northwest border of Colombia, in South America. ... December 13 is the 347th day of the year (348th in leap years) in the Gregorian calendar. ... 1960 (MCMLX) was a leap year starting on Friday (link will take you to calendar). ... Managua, with a population of about 1,817,096. ...


The organization collapsed in 1969 with the Football War between Honduras and El Salvador, but was then reinstated in 1991. The Football War (or Soccer War), as it was named by the international mass media, was a shortlived war (only 6 days in duration) fought by El Salvador and Honduras in 1969. ...


The CACM has succeeded in removing duties on most products moving among the member countries, and has largely unified external tariffs and increased trade within the member nations. However, it has not achieved the further goals of greater economic and political unification that were hoped for at the organization's founding, mainly caused by the CACM's inability and lack of reliable means to settle trade disputes. A tariff (sometimes known as a customs duty) is a tax on imported or exported goods. ...


With the proposal of the Free Trade Area of the Americas, it is possible that this new organization will replace the CACM (or make it redundant) by 2005. The FTAA logo. ...


Comparision with other Regional blocs

The Most Active Regional blocs
Regional bloc 1 Area
km²		 Population GDP (PPP)
millions of $US		 GDP (PPP)
per capita
$US		 Member
states 1
EU 3,977,487 460,124,266 11,723,816 25,480 25
ECOWAS 5,112,903 251,646,263 342,519 1,361 15
CARICOM 462,344 14,565,083 64,219 4,409 14+1 3
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
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 20,341,700 181,216,423 1,643,379 9,069 5
CACM 422,614 37,816,598 159,536 4,219 5
PARTA 528,151 7,810,905 23,074 2,954 12+2 3
IGAD 4,414,914 126,870,703 145,510 1,147 5
Reference blocs and countries 2 Area
km²		 Population GDP (PPP)
millions of $US		 GDP (PPP)
per capita
$US		 Political
divisions
UN 133,178,011 6,411,682,270 55,167,630 8,604 191
AEC 29,910,442 853,520,010 2,053,706 2,406 53
India 3,287,590 1,102,600,000 3,433,000 3,100 35
China 9,596,960 1,306,847,624 7,249,000 5,200 33
USA 9,631,418 296,900,571 11,190,000 39,100 50
Canada 9,984,670 32,507,874 958,700 29,800 13
Russia 17,075,200 143,782,338 1,282,000 8,900 89
1 Including data only for full and most active members

2 The first two states in the World by area, population and GDP (PPP)
Some are also members of a bloc
3 including non-sovereign autonomous entities of other states
A trade bloc is a large free trade zone or near-free trade zone formed by one or more tax, tariff and trade agreements. ... The Economic Community of West African States (ECOWAS) is a regional group of fifteen countries, founded on May 28, 1975 when 15 West African countries signed the Treaty of Lagos. ... The Caribbean Community and Common Market or CARICOM was established by the Treaty of Chaguaramas [1] which came into effect on August 1, 1973. ... Economic and Monetary Community of Central Africa ... The three states that make up the East African Community The East African Community (EAC) is a trading bloc in East Africa, consisting of Kenya, Uganda and Tanzania. ... The South American Community of Nations (CSN) (Spanish: Comunidad Sudamericana de Naciones, Portuguese: Comunidade Sul-Americana de Nações) will be a continent-wide free trade zone that will unite two existing free-trade organizations—Mercosur and the Andean Community—eliminating tariffs for non-sensitive products by 2014 and sensitive... ... The Southern African Customs Union has five members: Botswana Lesotho Namibia South Africa Swaziland It dates back to colonial days (1910). ... The North American Free Trade Agreement, known usually as NAFTA, links Canada, the United States, and Mexico in a free trade sphere. ... Hymn: The ASEAN Hymn Seat of Secretariat Jakarta Secretary General Ong Keng Yong Area  - Total 4,480,000 km2 Population  - Total (2004)  - Density 592,000,000 122. ... Member states  India  Pakistan  Bangladesh  Sri Lanka  Afghanistan  Nepal  Maldives  Bhutan Observer nations  China (PRC)  Japan The South Asian Association for Regional Cooperation, or SAARC, proposed by Ziaur Rahman, the then-president of Bangladesh, was established on December 8, 1985. ... The Euro-Mediterranean free trade area (EU-MEFTA) is based on the Barcelona Process and European Neighbourhood Policy (ENP). ... Flag of EURASEC The Eurasian Economic Community (EURASEC) was put into motion on the 10th October 2000 when Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan signed the treaty. ... The Pacific Islands Forum is an inter-governmental consultative organ which aims to enhance cooperation between the independent countries of the Pacific Ocean and represent their interests. ... The Intergovernmental Authority on Development (IGAD) is a seven-country regional development organization in Eastern Africa. ... Main articles: League of Nations & History of the United Nations The term United Nations was coined by Franklin D. Roosevelt during World War II, to refer to the Allies. ... Green: members of AEC pillar blocs Red: states signatories to the AEC Treaty, but not participating in any of the pillars The member states of the African Union are mounting efforts to collaborate economically, but they are impeded by the civil wars raging in several parts of Africa. ... A trade bloc is a large free trade zone or near-free trade zone formed by one or more tax, tariff and trade agreements. ... This is a list of the countries of the world sorted by area. ... Sovereignty is the exclusive right to exercise supreme authority over a geographic region or group of people, such as a nation or a tribe. ...

 smallest value among the blocs compared

 largest value among the blocs compared


During 2004. Source: CIA World Factbook 2005, IMF WEO Database World Factbook 2005 cover The World Factbook is an annual publication by the Central Intelligence Agency of the United States with basic almanac-style information about the various countries of the world. ...

See also


  Results from FactBites:
 
SICE - Central American Common Market: TOC (4116 words)
The Central Banks of the Signatory States shall co-operate closely in order to prevent any currency speculation that might affect the rates of exchange and to maintain the convertibility of the currencies of the respective countries on a basis which, in normal conditions, shall guarantee the freedom, uniformity and stability of exchange.
The Central American Economic Council, composed of the Ministers of Economic Affairs of the several Contracting Parties, is hereby established for the purpose of integrating the Central American economies and Co-ordinating the economic policy of the Contracting States.
The Central American Economic Council shall be the organ responsible for facilitating implementation of the resolutions on economic integration adopted by the Central American Economic Co-operation Committee.
Library of Congress / Federal Research Division / Country Studies / Area Handbook Series / Hondorus / Appendix B (3618 words)
The CACM was established by Guatemala, Honduras, El Salvador, and Nicaragua (and later joined by Costa Rica) with the signing of the General Treaty of Central American Economic Integration (Tratado General de Integración Económica Centroamericana) in Managua on December 15, 1960.
The General Treaty of Central American Economic Integration was signed in Managua, Nicaragua by four of the five republics (Costa Rica delayed signing by two years) on December 13, 1960, with ECLAC conceding on the free trade issue and the United States conceding on the inclusion of the RII.
A Central American Clearing House (Cámara Centroamericana de Compensación de Monedas) was established in 1963 to promote the use of local currencies in the settlement of short-term trade deficits between pairs of CACM member states.
  More results at FactBites »


 
 

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