Ограничения на валюту и свободное передвижение квалифицированных рабочих были

19.7.1.5. Read the text “The Common Market of Central American States” and make a synopsis

Of it.

Let us view the history of development of the Central American Common Market (CACM).

A Common Market of four Central American states — Guatemala, El Salvador, Honduras, and

Nicaragua — agreed at Managua, Nicaragua, in the General Treaty of Central American Economic

Integration signed in December 1960. This treaty came into operation in June 1961, and a

Headquarters was established in San Salvador. Costa Rica and Panama have since also joined. Free

Trade between the member countries was expected to be established by June 1966. In the event,

Although duties have been eliminated on about 95 per cent of products, duties on many of the

Remaining products, particularly agricultural, are likely to continue. An agreement on the Equalization

Of Import Duties and Charges was made in September 1959, and subsequent agreements

Have established a common external tariff on all but a small number of products. In 1961 the Central

American Bank for Economic Integration was formed to finance industrial projects, housing

And hotels in the region. In 1964 the five central banks agreed to establish, in the long term, a

Common currency. The Common Market suffered a set-back by the imposition of import duties on