Central African Customs And Economic Union
Central African Customs and Economic Union Outline
The Central African Customs and Economic Union (CACEU or UDEAC: Union Douanier et Economique de l’Afrique Centrale)
The union came into existence in 1966 pursuant to a treaty signed in 1964 by Congo, Gabon, the Central African Republic, Chad and Cameroon. The union adopts a single-tax system on exported goods within the union. Under this system, the importing countries do not impose tax or tariff on goods exported by the members, and receive a proportion of the proceeds of the tax on the exported goods collected by the exporting countries. The union also adopts a uniform investment code. Chad left the union in 1969.(1)
Resources
See Also
- International Organization
- Foreign Relations
- Intergovernmental Organization
- Regional Organization
- Regional Integration
Resources
Notes
Central African Customs and Economic Union or Union Douaniere et Economique de I’ Afrique Centrale (UDEAC) in relation with International Trade
In the context of trade organizations, Christopher Mark (1993) provided the following definition of Central African Customs and Economic Union or Union Douaniere et Economique de I’ Afrique Centrale (UDEAC): A customs union including Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, and Gabon. It was founded in 1963, superseding the Equatorial Customs Union. Objectives include intra-regional trade liberalization; adoption of a common external tariff; creation of a common investment code; and economic policy harmonization and factor mobility cooperation. Liberalization objectives have largely not been met; members continue to apply varying external tariff rates despite official adoption of a common external tariff.
Leave a Reply