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Central African countries to set up single regional economic community

APAnews The Central African countries, divided into between three regional community groups, are reflecting on the Steering Committee for the rationalization of regional economic communities in the region for a harmonization of the procedures toward the implementation of a single Regional Economic Community (REC), APA learnt from corroborating sources.

This approach is meant to strengthen the movement of people and goods and boost economic and trade exchanges in this part of the continent.

Ahead of the meeting of the Finance and Integration ministers due to open Monday in Yaounde, experts are currently working on the topic to be submitted to the Council of Ministers.

The Central African region has three economic communities whose quasi-autonomous way of functioning slackens the sub-regional integration.

They include the Economic and Monetary Community of Central Africa (CEMAC), the Economic Community of Central African States (ECCAS), the Economic Community of Great Lakes Countries (CEPGL), with some countries of the region belonging to either three blocs or two of them.

According to observers this situation arouses the problem of the harmonization of some procedures which consequently hinders the development of the countries of the region.

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