Arab Common Market (ACM)

Marché commun arabe (MCA)

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Founded

1964-08-13

History

13 Aug 1964, by members of D-XD0433 - Council of Arab Economic Unity (CAEU). Common Market Accord, ratified by Egypt, Iraq, Jordan and Syrian AR, came into force 1 Jan 1965, initially for a period of 10 years, with anticipated franchise for agricultural products by 1970 and industrial products by 1975. The agreement was amended in 1968 to cover a transition period of only 3 years. Libyan AJ, Mauritania and Yemen are also now parties to the agreement which provides for increasing free movement of capital, goods and people among members and reduction of duties on goods and commodities.

Aims

Function as the main preferential trade instrument within Arab Economic Unity; provide technical assistance to least developed member states of CAEU. Ultimately achieve: freedom of personal and capital mobility; freedom of exchange of national and foreign goods and products; freedom of residence, work, employment and practice of economic activity; freedom of transport, transit, use of means of transport, ports and civil airports.

Activities

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Structure

Implementation supervised by CAEU.

Relations with Inter-Governmental Organizations

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Members

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Type I Classification

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Type II Classification

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Subjects *

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UN Sustainable Development Goals **

GOAL 16: Peace and Justice Strong Institutions

UIA Org ID

XF8345

Last News

1993

* Subject classification is derived from the organization names and aims.
** UN SDGs are linked to the subject classification.

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