European Union Central American Association Agreement
Encyclopedia
The European Union Central American Association Agreement (EU-CAAA) is a free trade agreement between the European Union
(EU) and the Central American Common Market
. The agreement was concluded in May 2010 and was initialled in Brussels on 22 March 2011. The association agreement
will have to be formally signed and ratified before it can come into force and create a free trade area
between the EU and Central America.
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
(EU) and the Central American Common Market
Central American Integration System
Central American Integration System is the economic, cultural and political organization of Central American states since February 1, 1993. It was on December 13, 1991, however, when all the countries of the ODECA signed the Protocol of Tegucigalpa which extended the earlier cooperation in search...
. The agreement was concluded in May 2010 and was initialled in Brussels on 22 March 2011. The association agreement
European Union Association Agreement
A European Union Association Agreement is a treaty between the European Union and a non-EU country that creates a framework for co-operation between them. Areas frequently covered by such agreements include the development of political, trade, social, cultural and security links...
will have to be formally signed and ratified before it can come into force and create a free trade area
Free trade area
A free trade area is a trade bloc whose member countries have signed a free trade agreement , which eliminates tariffs, import quotas, and preferences on most goods and services traded between them. If people are also free to move between the countries, in addition to FTA, it would also be...
between the EU and Central America.