CENTRAL AMERICAN COMMON MARKET

Abstract

This chapter describes the Central American common market. The Central American Common Market was established under the General Treaty of Central American Economic Integration, usually known as the Treaty of Managua, which was signed initially by El Salvador, Guatemala, Honduras, and Nicaragua on December 13, 1960. Costa Rica adhered to the Treaty in 1962, and it came into force for El Salvador, Guatemala, and Nicaragua in June, 1961, and for Honduras in April, 1962, and for Costa Rica in September, 1963. The Treaty of Managua became the basic constitutional document, and nucleus of the Central American regional economic integration process. The treaty laid down guidelines for future regional economic policy, established a central system of standards, created a complex mechanism for the implementation of policy, and the resolution of disputes and grouped around itself, so as to form an organic whole, a number of other related instruments.