Central American Common Market (CACM)
Marché commun centroaméricain
Mercado Común Centroamericano (MERCOMUN)
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Founded
1991
History
1991, replacing a common market of the same name which collapsed in 1969, having been set up 13 Dec 1960, Managua (Nicaragua), under the auspices of H-XD3033 - Organization of Central American States, through the signature of T-XT6023 - General Treaty on Central American Economic Integration, 1960, administered by E-XD0996 - Secretaria Permanente del Tratado General de Integración Económica Centroamericana (SIECA), which came into force in Jun 1961. Costa Rica joined in Jul 1962 and the Treaty was ratified by all the five member countries by Sep 1963. Also referred to as Central American Economic Integration and by Spanish initials MCCA. Treaty was due to expire Jun 1981, but contracting parties agreed, Jul 1980, that it should continue in operation until agreement was reached on a new integration scheme, possibly a U-XU9688 - Central American Economic and Social Community. The F-XF2858 - Central American Integration System was established 13 Dec 1991, by T-XT9191 - Protocol of Tegucigalpa, replacing OCAS. MERCOMUN does not yet actually exist. The following paragraphs relate in some cases to the previous Common Market.
Aims
Establish a common market which contributes towards acceleration of economic growth of member countries and facilitates diversification of their production bases towards manufactures; overcome the problems of of small domestic markets; facilitate the process of industrialization.
Activities
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expected to be as follows: Tripartite Commission of Ministers and Deputy Ministers of Finance and the Governors of Central Banks. Ministerial Commission, previously U-XE0112 - Central American Economic Council, consisting of ministers of economy of member states; Executive Council (one representative and one alternate from each member). F-XF0230 - Central American Bank for Economic Integration (CABEI), set up 1961 under a separate agreement, finances directly, and administers funds for, regional projects. Agreement for the establishment of H-XD9031 - Central American Monetary Union, now amalgamated with E-XE5976 - Central American Monetary Council, became effective Mar 1964, the Central Banks having been meeting regularly since 1952. U-XF6293 - Central American Clearing House (CACH), set up 1961, Tegucigalpa (Honduras), joined CACM in 1964.
Relations with Inter-Governmental Organizations
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XF6292
** UN SDGs are linked to the subject classification.
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