On 24 January 2003, the European Union (EU) entered into a financial agreement with ECCAS and CEMAC, which was subject to the merger of ECCAS and CEMAC into a single organisation, with ECCAS taking responsibility for the peace and security of the sub-region through its COPAX security pact. CEMAC is not one of the pillars of the African Economic Community, but its members are linked to it by the Economic Community of Central African States. The EU has had several peacekeeping missions in the DRC: Operation Artemis (June to September 2003), EUPOL Kinshasa (from October 2003) and EUSEC DRC (from May 2005). The UMAC Monetary Union and the Economic and Monetary Union (UEAC) are the two main pillars of the Community. They must guide and anchor the regionalization process. The UMAC builds on the structure previously defined by UDEAC. The main institution of the UMAC remains the BEAC, which issues the single currency franc CFA and guarantees its stability by defining and managing monetary policies, foreign exchange transactions and reserves in the Member States. The other central element of the CEMAC community, the UEAC ECONOMIC UNION, is currently less advanced and is still under construction. The CEMAC Treaty foresees that a three-step plan will gradually lead to the creation of a common market and the creation of the economic union by 2015. This process should range from harmonizing national legislation and developing common economic rules (1999-2004) to establishing the free movement of goods, services, capital and people (2005-2009) to the conclusion of a final step towards consolidating and evaluating the results achieved (2010-2015). Despite the adoption of a very broad law, the EUAC has evolved more slowly than expected. It is currently lagging behind the plan.

For example, the implementation of common legislation at the national level took longer than expected. Although the end of the second phase is approaching, the agreement on the free movement of citizens has not been implemented. Most states still require a visa from CEMAC citizens entering their territory. Officially, CEMAC became a free trade area at the end of 2000. However, many tariff and non-tariff barriers remain and largely explain the low level of intra-regional trade.

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Last Modified: dezembro 5, 2020