Council of Arab Economic Unity

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The Council of Arab Economic Unity (CAEU) was established in 3 June 1957, and became effective 30 May 1964, with the ultimate goal of achieving complete economic unity among its member states.

The CAEU has 10 members (including the Palestine Liberation Organization): Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Somalia, Sudan, Syria, Yemen, Palestine Liberation Organization.

The objectives of the CAEU are:

To formulate regulations , legislations , and tariffs , aiming at the creation of a unified Arab custom area .
To co-ordinate foreign trade policies with a view to ensuring the co-ordination of the region's economy vis-à-vis world economy .
To co-ordinate economic development and formulate programs for the attainment of joint Arab development project .
To co-ordinate policies related to agriculture , industry , and internal trade .
To co-ordinate financial and monetary policies with the aim of achieving monetary unity .
To co-ordinate legislations for taxes and duties.
To formulate unified regulations for transport and transit in the contracting countries.
To draft common legislations on labour and social security .
To prepare a budget for the CAEU council and its affiliated bodies.