CEMAC Regional Committee reviews Economic Partnership Agreement

Representatives of Central African states have met in their 31st annual meeting with private sector partners.

The meeting which took place in Ndjamena, Chad was opportunity to negotiate the economic strategic approach of the of the sub region.

During the sitting, participants sought ways of cushioning the negative effects of the ACP Economic Partnership Agreement (EPA) signed with the European Union.

The EPA programme includes duty-free imports of up to 80% from the European Union to African, Caribbean and Pacific (ACP) countries and vice versa over a period of twenty-five years.

Considering the small size and uncompetitive nature of the economies of the region, the Central African governments are coming together to form a common front to negotiate a win-win deal in the free import/export exercise with European partners.

Cameroon that had earlier signed the reciprocal free trade agreement with the European Union goes to the meeting determined to convince other regional partners to share the benefits of such an agreement.

EPA experts argue that all statistical data on foreign goods for all the countries in the sub region have been harmonised.

The experts have also agreed to reinforce the agreement on the origin of imports noticing that several products imported from Europe are not manufactured on the spot.

Apart from the ACP deliberations, a regional development plan was also agreed upon.