EPA bill adopted by Parliament

The National Assembly have adopted in plenary the bill authorizing the President of the Republic to ratify the Economic Partnership Agreements (EPAs), taught on site PANA.

This bill was defended on behalf of the Government by the Minister of Economy, Planning and Regional Planning (Minepat), Emmanuel Nganou Djoumess at Wednesdays meeting.

Faced with fears of members who questioned the need to engage in the EPA at this time when the Cameroonian economy is undergoing structural adjustment, Minepat replied that the country does not go in with feet bound and it is possible that an assessment be made at a given stage of the journey.

On December 17, 2007 Cameroon and the European Union (EU) signed an Economic Partnership Agreement (EPA) negotiated to avoid any disruption in Cameroon's exports to the EU after 2007.

The end of that year marked the end of the trade provisions of the Cotonou Agreement and as of 2008, replacing non-reciprocal tariff preferences compatible reciprocal EPAs with the rules of the World Trade Organization, issue make room for African, Caribbean and Pacific (ACP) countries into the world economy through trade liberalization.

Such agreements give Cameroon, and the 35 other ACP countries that have concluded an EPA in late 2007, immediate benefit from free access to the EU market under these agreements.

Products affected by this measure include bananas, aluminium, processed cocoa and wood products and other fresh fruits and vegetables or processed, which represents about 200 billion CFA francs per year, or 15 per cent of total exports of Cameroon to the EU.