SOMMET EXTRAORDINAIRE DES CHEFS D'ETAT DE LA COMMUNAUTE ECONOMIQUE ET MONETAIRE DE L'AFRIQUE CENTRALE
CONTENT
Sheet 1: History of CEMAC Page 3 Sheet 2: Conference of Heads of State Page 6 Sheet 3: Context and Challenges Page 7 Sheet 4: State of Affairs Prior to the CEMAC Extraordinary Summit in Yaounde, 21-22 November 2019 Page 10 Sheet 5: Review of the implementation of the regional strategy to end the crisis after the 2016 meeting in Yaounde Page 13 Sheet 6: Economic Trends and Prospects in the CEMAC Zone Page 16 Sheet 7: Economic and Financial situation of CEMAC in 2018 and Outlook for 2019 and 2020 Page 19 Sheet 8: Final Communique of the 14th Ordinary Session of the CEMAC Heads of State Conference (N’djamena, 24 March 2019) Page 23 Sheet 9: Final Communique of the Extraordinary Summit of Central African Heads of State on the Economic and Monetary situation in the CEMAC Zone (Yaounde, 23 December 2016) Page 27
PRESS KIT EXTRAORDINARY SUMMIT OF HEADS OF STATE OF THE ECONOMIC AND MONETARY COMMUNITY OF CENTRAL AFRICA YAOUNDE, 21-22 NOVEMBER 2019
Sheet 1
History of CEMAC
Historical Dates:
- 29 June 1959: Creation of the Equatorial Customs Union (UDE);
- 1961: Accession of the State of Cameroon to UDE;
- 8 December 1964: Signature in Brazzaville of the treaty instituting the Central African Customs and Economic Union (UDEAC);
- 16 March 1994: Signature in N'Djamena, Chad, of the treaty instituting the Central African Economic and Monetary Community (CEMAC);
- June 1999: Entry into force of the treaty instituting CEMAC;
- 2010: Establishment of the rotating system for the maiden heads of institution who serve a non-renewable five-year term;
- October 2017: Signature by all CEMAC Member State of the circular instituting the free movement of people and goods within the CEMAC area for all community nationals.
The Six CEMAC Member States:
- Cameroon
- Central African Republic
- Congo
- Gabon
- Equatorial Guinea
- Chad
CEMAC Missions:
Pursuant to Article 2 of the treaty that instituted it, CEMAC comprises two Unions, namely: - the Central African Economic Union (UEAC) whose duty is to harmonize the regulations in force in Member States in order to revitalize trade and facilitate the convergence of economic policies within the sub-region; and - the Central African Monetary Union (UMAC) which is responsible for the monetary convergence of Member States using the same currency.
CEMAC’s vision today is based on the Regional Economic Programme (PER)
PRESS KIT EXTRAORDINARY SUMMIT OF HEADS OF STATE OF THE ECONOMIC AND MONETARY COMMUNITY OF CENTRAL AFRICA YAOUNDE, 21-22 NOVEMBER 2019
whose objective is to transform CEMAC into «an integrated, emerging economic area where security, solidarity and good governance prevail».
CEMAC’s main mission is to develop an integrated area to foster harmonious development.
Objectives of CEMAC:
- Ensure stable management of the common currency (CFAF);
- Protect the environment of economic activities and business in general;