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CEMAC AND ECCASIn the Central African sub-region, Cameroon is a member of two organizations:n The CEMAC (Economic and Monetary Community of Central Africa)n The ECCAS (Economic Community of Central Africa States)CEMACThe Heads of State of the former UDEAC zone (Central African Customs and Economic Union), signing in N'Djamena in 1994 the Treaty of the Economic and Monetary Community of Central African States, inaugurated a new concept of economic integration. Through the two unions, the Central African Economic and Monetary Union and the Central African Monetary Union, Member States agreed a move from a situation of cooperation to an accelerated process of eco- nomic and monetary integration. Various instru- ments have so far completed the 1994 Treaty at institutional, legal and community levels.The CEMAC, a group of six countries of the sub- region (Cameroon, Chad, Central African Republic, Equatorial Guinea, Gabon, Congo Brazzaville), intends, besides strengthening eco- nomic integration between the countries to pro- mote the circulation of people and goods within the zone. To do this, the community has a com- mon currency (the Central Africa CFA franc) whose issue is incumbent upon the Bank of Central African States (BEAC) headquartered in Yaoundé. The BEAC in collaboration with variousnational agencies pilots the monetary policy and issues the currency which is legal tender and has discharging effect in the CEMAC zone. It controls the exchange transactions with foreign countries and ensures the smooth running of the payment systems. The CFA franc is linked through the French Treasury to Euro with which it has a fixed parity.VARIOUS PROJECTSFor about fifteen years, the Heads of State of the Economic and Monetary Community of Central Africa (CEMAC) committed themselves to imple- menting an ambitious institutional reform pro- gramme aiming at fast-tracking integration: better circulation of people and goods, launching of a Community airline "Air CEMAC", reinforcing road infrastructure and intercommunity trade. Over the years, the system unfortunately got fro- zen because of national egoisms.In fact, in order to create a CEMAC zone inte- grated area, the Heads of State and Government had decided to make effective the free movement of persons by issuing CEMAC’s biometric pas- sports. All the same, a number of States still require entry visas from members of the commu- nity whose procedures for obtaining remain a long and hard battle.As to launching the community airline Air CEMAC, the idea is postponed indefinitely. The implementa- tion of the Regional Economic Programme is moving very slowly; the decision to terminate the cohabitation of two financial markets in the region: Douala and Libreville is still to be enforced.ECCAS Community Parliament’s headquarters in Malabo, Equatorial GuineaLES ATOUTS ECONOMIQUES DU CAMEROUN117

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