<p>The Central African Monetary and Economic Community, known by its French acronym CEMAC (Communaut&eacute / Economique et Mon&eacute / taire de l&rsquo / Afrique Centrale), is one of the oldest regional economic blocs in the African, Caribbean and Pacific (ACP) group of states. Its membership comprises of Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, and Gabon. It has a population of over 32 million inhabitants in a three million (3 million) square kilometre expanse of land. The changes in the world economy, and especially between the ACP countries, on the one hand, and the European Economic Community-EEC (hereinafter referred to as European Union (EU)), on the other hand, did not leave the CEMAC region unaffected. CEMAC region, like any other regional economic blocs in Africa was faced with the need to readjust in the face of a New International Economic Order (NIEO). The region which had benefited from preferential access to the EU market including financial assistance through the European Development Fund (EDF) had to comply with the rules laid down in the World Trade Organisation (WTO). This eventually led to a shift in the EU trade policy, in order to ensure that its trade preferences to developing countries were compatible to the rules and obligations of the WTO.</p>

<p>The Central African Monetary and Economic Community, known by its French acronym CEMAC (Communaut&eacute / Economique et Mon&eacute / taire de l&rsquo / Afrique Centrale), is one of the oldest regional economic blocs in the African, Caribbean and Pacific (ACP) group of states. Its membership comprises of Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, and Gabon. It has a population of over 32 million inhabitants in a three million (3 million) square kilometre expanse of land. The changes in the world economy, and especially between the ACP countries, on the one hand, and the European Economic Community-EEC (hereinafter referred to as European Union (EU)), on the other hand, did not leave the CEMAC region unaffected. CEMAC region, like any other regional economic blocs in Africa was faced with the need to readjust in the face of a New International Economic Order (NIEO). The region which had benefited from preferential access to the EU market including financial assistance through the European Development Fund (EDF) had to comply with the rules laid down in the World Trade Organisation (WTO). This eventually led to a shift in the EU trade policy, in order to ensure that its trade preferences to developing countries were compatible to the rules and obligations of the WTO.</p>

Magister Legum - LLM / South Africa