External Trade : EPAs show positive balance sheet
The 1st edition of the International Business and Trade Fair (FIAC) held from 24 March to 8 April 2018 in Douala, Cameroon's Economic capital city. Themed, "long live Made in Cameroon Goods," the trade fair, which was organised by the International Inter-Progress Foundation headed by Pierre Zumbach, was officially opened by the Cameroon Minister of Trade, Luc Magloire Mbarga Atangana. It brought together about 400 companies to showcase their know-how in the various sectors of the economy.
In addition to the sales exhibitions, the event featured debates on foreign trade in Cameroon. On Thursday, 29 March 2018, Cameroon Customs, represented by Mr. Raphael Hamadjam, Head of Studies at the General Directorate of Customs, assessed the implementation of the Partnership Agreement signed between Cameroon and the European Union.
After 19 months of implementation, EPAs shows a positive balance sheet in view of the profits made by business persons. Indeed, the paper revealed that the tax losses of 2.6 billion to the detriment of the Cameroonian administration, represents "gains in terms of earnings for business persons". Some 301 business persons made benefits amounting to 96 billion from 2800 customs operations.
It should be noted that since the implementation of this Agreement, the most prized products are machinery, mechanical devices, and production tools used in Cameroonian industries, raw materials such as clinker as well as raw materials for the brewery industry, fertilizers, pesticides, cardboard and pharmaceuticals.
(Source: Cameroon Tribune No. 11571/7770 of 5 April 2018).