Peace - Work - Fatherland PRESIDENCE OF THE REPUBLIC CIVIL CABINET COMMUNICATION UNIT
REPUBLIC OF CHEMOCON PEACE - WORK - FATHERLAND PRESIDENCY OF THE REPUBLIC CIVIL CABINET COMMUNICATION UNIT
EXTRADDINARY SUMMIT OF CEMAC HEADS OF STATE IN CHAD
Participation of the President of the Republic of Cameroon, H.E. Paul BIYA
Ndjamena, 31 October 2017
www.prc.cm
REPUBLIQUE DU CAMEROUN Paix - Travail - Patrie PRESIDENCE DE LA REPUBLIQUE CABINET CIVIL CELLULE DE COMMUNICATION REPUBLIC OF CAMEROON Peace - Work - Fatherland PRESIDENCY OF THE REPUBLIC CIVIL CABINET COMMUNICATION UNIT
BRIEF PRESENTATION OF CEMAC
The Central African Economic and Monetary Community (CEMAC) is made up of six Member States namely; Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and the Central African Republic. Its mission is to promote the harmonious development of the Member States in the framework of the establishment of a genuine common market.
The current CEMAC was born from the ashes of the former UDEAC the Customs and Economic Union of Central Africa (UDEAC), preceded by the Equatorial Customs Union (UDE). Its historical cycle is as follows:
- June 1959, Creation of the Equatorial Customs Union (UDE).
- 1961, accession of the State of Cameroon.
- December 8, 1964, the Treaty establishing the Customs and Economic Union of Central Africa (UDEAC) was signed in Brazzaville.
- 1983, accession of Equatorial Guinea to UDEAC.
- 16 March 1994, signing in N'djamena, Chad, of the Treaty Establishing the Central African Economic and Monetary Community (CEMAC).
The founding fathers of the organisation have set themselves several goals to achieve. These include:
- The creation of a common market based on the free movement of people, goods, capital and services;
- Ensuring the stable management of the common currency;
- Securing the environment of economic activities and business in general;
- Harmonising national sectoral policy regulations.
STATISTICS
- According to 2010 statistics, the assets of the sub-regional organisation are as follows:
- Population (estimated): 36.7 million;
- Growth rate (real GDP): 4.08;
- Population growth rate (average): 2.79;
- GDP / growth rate: 1.28;
- Main export products: Oil, wood and diamonds;
- Inflation (consumer prices, annual average, December): 2.33.
MAIN OBJECTIVE:
CEMAC's activities today revolve around the Regional Economic Program, which aims at “transforming CEMAC into an emerging integrated economic area, where security, solidarity and good governance reign, at the service of human development”.
The sub-region has put in place the PER – an emergence agenda (2010 - 2025); in three five-year phases for the realisation of the 2025 Vision of CEMAC. The first phase (2010-2015), laid down the institutional foundations of emergence.
Phase two (2016-2020) aims at anchoring the pillars of the economic diversification of the zone.
The period (2021-2025) aims at consolidating the previous phases. At the end of its implementation, it will lead to the creation of an emerging economic area at CEMAC’s level by 2025.