Central American Common Market
PAPER NO. - 204
SPATIAL ECONOMIC SYSTEMS
IInd SEMESTER TERM PAPER ON
CENTRAL AMERICAN COMMON MARKET
Submitted By:
Aman Kumar Saini
Kamlesh Singh
Kirti Lohani
Md. Safir Ahmad
Neharika
Poumita Das
Purva Bhalla
Ram Kumar Dan
Ritu Gautam
Sheena Tangri
Tarini Mishra
Pradeep Kumar Sharma
CONTENTS
1. Introduction
2. Member States
3. Historical Background
4. Economic Background
5. Aims & Objectives
6. CACM Free Trade Agreement
7. Success & Failures in CACM
8. Revival of CACM
9. Economic Relations With Major Economic Blocs
10. Conclusion
INTRODUCTION
Central American Common Market (CACM), association of five Central American nations was formed to facilitate regional economic development through free trade and economic integration. Established by the General Treaty on Central American Economic Integration signed by Guatemala, Honduras, El Salvador, and Nicaragua in December 1960, its membership expanded to include Costa Rica in July 1962. It was one of four regional economic integration organizations created during the Latin American export boom of the 1960s. The CACM is headquartered in Guatemala City . The Central American Economic Council, the group’s chief policy-making organ, meets every three months. Composed of economic ministers, it coordinates regional economic integration. The council elects a secretary-general, who serves a three-year term. CACM, an organization formed by the developing countries of Central America for the purpose of gradually uniting the national economies of the member nations into one “common market.” The Central American countries embarked on economic integration before other developing countries, including those of Latin America. The General Treaty of Central American Economic Integration was concluded in Managua, Nicaragua, in 1960 and took effect on June 4, 1961. The member countries are Guatemala, Nicaragua, El Salvador, Honduras (prior to January
SPATIAL ECONOMIC SYSTEMS
IInd SEMESTER TERM PAPER ON
CENTRAL AMERICAN COMMON MARKET
Submitted By:
Aman Kumar Saini
Kamlesh Singh
Kirti Lohani
Md. Safir Ahmad
Neharika
Poumita Das
Purva Bhalla
Ram Kumar Dan
Ritu Gautam
Sheena Tangri
Tarini Mishra
Pradeep Kumar Sharma
CONTENTS
1. Introduction
2. Member States
3. Historical Background
4. Economic Background
5. Aims & Objectives
6. CACM Free Trade Agreement
7. Success & Failures in CACM
8. Revival of CACM
9. Economic Relations With Major Economic Blocs
10. Conclusion
INTRODUCTION
Central American Common Market (CACM), association of five Central American nations was formed to facilitate regional economic development through free trade and economic integration. Established by the General Treaty on Central American Economic Integration signed by Guatemala, Honduras, El Salvador, and Nicaragua in December 1960, its membership expanded to include Costa Rica in July 1962. It was one of four regional economic integration organizations created during the Latin American export boom of the 1960s. The CACM is headquartered in Guatemala City . The Central American Economic Council, the group’s chief policy-making organ, meets every three months. Composed of economic ministers, it coordinates regional economic integration. The council elects a secretary-general, who serves a three-year term. CACM, an organization formed by the developing countries of Central America for the purpose of gradually uniting the national economies of the member nations into one “common market.” The Central American countries embarked on economic integration before other developing countries, including those of Latin America. The General Treaty of Central American Economic Integration was concluded in Managua, Nicaragua, in 1960 and took effect on June 4, 1961. The member countries are Guatemala, Nicaragua, El Salvador, Honduras (prior to January