Encyclopedia > Customs and Economic Union of Central Africa
States of UDEAC
The Customs and Economic Union of Central Africa (or UDEAC from its name in French, Union Douaniere et Économique de l’Afrique Centrale), established by the Brazzaville Treaty in 1966, formed a customs union with free trade area between members and a common external tariff for imports from other countries. UDEAC signed a treaty for the establishment of a Economic and Monetary Community of Central Africa (CEMAC) to promote the entire process of sub-regional integration trough the forming of monetary union with the Central AfricaCFA franc as a common currency; it was officially superseded by CEMAC in June 1999. Image File history File links Africa-countries-CEMAC.png Description: Map of African Countries of CEMAC Beschreibung: Karte von afrikanischen Ländern der CEMAC old image originally from Wikimedia Commons Image:BlankMap-Africa. ... Image File history File links Africa-countries-CEMAC.png Description: Map of African Countries of CEMAC Beschreibung: Karte von afrikanischen Ländern der CEMAC old image originally from Wikimedia Commons Image:BlankMap-Africa. ... A customs union is a free trade area with a Common External Tariff. ... A free trade area is a designate group of countries that have agreed to eliminate tariffs, quotas and preferences on most goods between them. ... When a goup of countries form a customs union they must introduce a common external tariff. ... Economic and Monetary Community of Central Africa ... Economic integration is term used to describe how different aspects between economies are integrated. ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them, for example, the East Caribbean Dollar. ... The countries using the CFA franc The CFA franc (in French: franc CFA, or just franc in everyday conversation if no ambiguity is possible) is a currency used in 12 formerly French-ruled African countries, as well as in Guinea-Bissau (former Portuguese colony) and in Equatorial Guinea (former Spanish...
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