EPA : Business persons enjoy tariff reductions
Two years after its entry into force on 14 August 2016, the Cameroon-European Union Bilateral Economic Partnership Agreement (EPA) is yielding benefits. Some 319 importers enjoyed substantial tariff reductions by 30 June of this year. All in all, goods worth 145 billion CFAF were imported with a tax gain of 4 billion CFAF. The Cameroon-based Louis Dreyfus Company, which specialises in the sale of agricultural chemicals, topped the list of importers after carrying out some 163 transactions worth 15.7 billion CFAF for a tax value of 533 million F.
This was followed by Les Brasseries du Cameroun, which undertook 744 operations for goods costing 19.9 billion CFAF F. This enabled them to enjoy a tax gain of 476 million F. In 26 operations, Dangote cement was able to obtain a tax gain of 392 million CFAF for importing goods worth 26.1 billion CFAF.
The bilateral EPA resolutely enters its third year on 4 August 2018. During the first year of tariff dismantling, the balance sheet was generally positive. As of 30 July 2017, nearly 230 importers had already benefited from some 26.6 billion F EU trade preferences. Thus, from 8 August 2016 to 30 July 2017, the committee in charge of monitoring the implementation of the bilateral EPA registered some 1319 statements that benefited from the EU trade preference, against 55 the year before.
(Source: Cameroon Business Today No. 067 1st to 7th August, 2018).