ACM (Arab Common Market)

Dictionary term

Definition of "ACM (Arab Common Market)"

Egypt, Iraq, Jordan and Syria formed the ACM in 1964 and abolished all tariffs on locally produced agricultural, animal and mineral products in 1971 and on manufactured goods in 1973. Libya joined the ACM in 1977, Mauritania in 1980 and PDR Yemen in 1982. These countries did not implement the free trade provisions until the end of 1985. In practice, non-tariff barriers were not removed.

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