Central American Common Market

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Central American Common Market

Summary of Central American Common Market

A free trade area among the nations of Central America, established in 1960 by a treaty between El Salvador, Guatemala, Honduras, and Nicaragua. The common market began operations in 1961, and Costa Rica joined the group in 1962. Honduras dropped out of the group in 1969 during its brief war with El Salvador; it has since maintained bilateral trade agreements with Costa Rica, Nicaragua, and Guatemala. Economic integration within the region has been impeded by political unrest and the failure of Honduras and El Salvador to reconcile differences. Real dollar intragroup trade has declined significantly in recent years. In 1976 a treaty was advanced calling for replacement of the common market with an Economic and Social Community of Central America, but by 1984 no potential member state had ratified the instrument.

(Main Author: William J. Miller)

Central American Common Market Outline

The CACM (or MCCA: Mercado Común Centroamericana) was based on the General Treaty on Central American Integration, which was signed in Managua in 1960. Its members include El Salvador, Guatemala, Honduras, Nicaragua and Costa Rica. Its main purpose is to establish a customs union in Central America. For this purpose, the Central American Bank for Economic Integration (CABEI) was established in 1960. The Central American Central Banks System (SBCC) was created in 1964, which led to the establish-ment of the Central American Monetary Union. The CACM has succeeded in reducing certain tariffs within the market, but has experienced difficulties in extending the cooper-ation between the members to other areas of interests. Its headquarters are in Guatemala City, Guatemala.(1)

Central American Common Market

Embracing mainstream international law, this section on central american common market explores the context, history and effect of the area of the law covered here.

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See Also

  • International Organization
  • Foreign Relations
  • Intergovernmental Organization
  • Regional Organization
  • Regional Integration

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Further Reading

  • The entry “central american common market” in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press

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Notes

  1. John Mo, International Commercial Law

Central American Common Market (CACM) or Mercado Comun Centroamericana (MCCA) in relation with International Trade

In the context of trade organizations, Christopher Mark (1993) provided the following definition of Central American Common Market (CACM) or Mercado Comun Centroamericana (MCCA): A customs union including Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua; Belize and Panama participate in CACM summits, but do not participate fully in regional trade integration. CACM was founded 1960 and revised June 1991; a common external tariff established in 1986 but is not effective in all members.

Hierarchical Display of Central American Common Market

International Organisations > Extra-European organisations > Latin American organisation > Central American Integration System
Geography > Economic geography > CACM countries
Economics > Economic structure > Economic system > Common market

Central American Common Market

Concept of Central American Common Market

See the dictionary definition of Central American Common Market.

Characteristics of Central American Common Market

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Translation of Central American Common Market

Thesaurus of Central American Common Market

International Organisations > Extra-European organisations > Latin American organisation > Central American Integration System > Central American Common Market
Geography > Economic geography > CACM countries > Central American Common Market
Economics > Economic structure > Economic system > Common market > Central American Common Market

See also

  • CACM

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