CEMAC moves closer to economic accord with EU

A meeting last week of the Central African Economic and Monetary Community (Communaute Economique et Monetaire de l'Afrique Centrale, or CEMAC) resulted in the creation of a regional coordination and administration committee (Comite Regional de Coordination des Negociations, or CRCN), mandated to conclude an economic partnership agreement with the European Union (EU). Held at the Palais de la CEMAC in the Central African Republic capital, Bangui, from 1 to 3 April, it was the third meeting of central African commerce ministers of CEMAC, as part of ongoing negotiations to reach an accord with the EU on modalities of economic cooperation among member states, including the possible establishment of a free-trade zone. Negotiations are due to be completed by 31 December 2007 for entry into effect in 2008. Two prior meetings were held in Brazzaville, Republic of Congo, and Yaounde, Cameroon, in July and September 2001, respectively. Chad has offered to host the fourth such meeting, at a date to be announced. CEMAC, whose members include Cameroon, Central African Republic, Republic of the Congo, Chad, Equatorial Guinea, Gabon, and Sao Tome and Principe, was founded in March 1994 to promote the process of sub-regional integration within the framework of an economic union and a monetary union. Institutions that have already been planned include a common parliament and common court of justice.