26, December 2020
Douala: Customs Department reveals spill over effects of the Ambazonia war 0
The effects of the unfavourable economic situation in Southern Cameroons continued to be felt on customs revenue with declines of 39.3% and 93.8% respectively in the Southern Zone (excluding SONARA) and Northern Zone.
This is contained a 2019 report released by the Cameroon Customs Department. The report also pointed out that the Southern Cameroons crisis has impacted the Economic Partnership Agreement (EPA) between the European Union and Cameroon and has greatly affected trade between Nigeria and Cameroon.
According to the customs administration, the crisis is disrupting Nigeria’s imports from Cameroon such as rice, cocoa, eru, rubber, maize, cassava and plantain tubers, as well as chilli peppers including mangoes while Cameroon’s import of spare parts and electronic products has also been brought to a standstill.
The Cameroon Customs report also noted that trucks no longer circulate freely, especially on the Bamenda-Enugu trade route.
The customs authorities indicated that the Economic Partnership Agreement (EPA), implemented since 04 August 2016 which provides for the dismantling of tariffs between Cameroon and the European Union has also led to tax losses of CFAF 7.7 billion in 2019 against CFAF 4.3 billion in 2018, an increase of 78%.
As a reminder, this agreement enshrines the opening of the Cameroonian market to 80% of imports from the European Union in three stages corresponding to three groups of products.
By Rita Akana in Yaounde
30, December 2020
Biya regime secures Economic Partnership Agreement with Britain 0
The United Kingdom and Cameroon have today secured an Economic Partnership Agreement (EPA) that ensures mutual continuity of trade.
An agreement has been reached to roll over current EU-Cameroon trading arrangements from 1 January 2021.
The deal allows businesses to trade freely as they do now, without any additional barriers or tariffs, and provides a foundation to extend our trading relationship in future.
Total UK trade with Cameroon amounted to £200 million in 2019.
Top goods imports to the UK from Cameroon in 2019 were in fruit and nuts, mostly bananas (£27 million) and wood and wood products (£25 million). The UK market accounts for 12% of total exports of bananas from Cameroon and this agreement will maintain tariff-free market access to the UK. It also guarantees continued market access for UK exporters, who sold £51m in goods to Cameroon in 2019.
Minister for International Trade Ranil Jayawardena said:
The United Kingdom is committed to supporting developing countries by encouraging growth through trade. The preferential terms for their key exports, such as bananas, will support jobs and economic development in Cameroon, and make sure British consumers get the products they want.
Culled from www.gov.uk