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
Available with paid subscription only.Structure
Implementation supervised by CAEU.
Relations with Inter-Governmental Organizations
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Available with paid subscription only.Type I Classification
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Available with paid subscription only.Subjects *
Available with paid subscription only.UN Sustainable Development Goals **
UIA Org ID
XF8345
Last News
1993
** UN SDGs are linked to the subject classification.
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