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EU Goods Enters Cameroon Free

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The Economic Partnership Agreement, EPA signed by the Cameroun government with the European Union, EU comes into effect as of Thursday, August 4th, 2016. The accord stated that 80 percent of EU goods will get into Cameroon duty-free. Some 1760 lists of EU goods have been shortlisted to begin entering the Cameroon market free of charge amongst which includes tractors, sewing machines, cars, farm tools and other goods. In return, Cameroon will continue to ship cotton, rubber, banana, coffee, cocoa into EU market.




Cameroon Economist who were opposed to the deal says Cameroon will lose huge sums of customs revenue as Cameroon sends very little to the EU market. Other observers say making a trade deal with a 28-bloc of nations against Cameroon is unfair to the country. This deal questions Cameroons commitment to the regional CEMAC zone though Minister Paul Motaze, Cameroon’s Minister of Economy, Planning and Regional Development tried to allay such fears. Critics still say, the EPA deal with Cameroon posed Cameroon as a threat to the regional integration in the CEMAC Zone.

However, it seems the CEMAC heads of states during their CEMAC leaders summit in Malabo, Equatorial Guinea on July 30 designated Ali Bongo of Gabon to negotiate with the EU for the postponement of the August 4 barrier dismantling deadline for Cameroon. This will give the other CEMAC leaders time to conclude their own agreement with the EU.




Those who support the deal says, Cameroon’s Biya did well as it will place Cameroon’s economy positively into the western world and could lead to net positives for the country’s economy. This is so because as the Presidency claimed the goods that will be coming in from EU will include medications that will help to fight poverty in Cameroon, increase productivity and eradicate misery.

God is still saying something.

 

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