(Business in Cameroon) - The Economic Partnership Agreement (EPA) between Cameroon and the European Union (EU) entered its second phase recently on 4 August with an exemption of 15% for 917 groups of European products. Among the 917 groups of products, there is for example, non-pulverised cement (clinker), printing machinery and devices, washing machines, windshield wipers, tractors, motor vehicles for goods, trailers, semi-trailers, gears for motor vehicles, etc. This second phase in the tariff dismantling thus concerns in total 2,677 tariff lines if we add the 1,760 products affected during the first year of implementation of the EPA of 4 August 2016.
During the first period covering 4 August 2016 to 4 August 2017, the Cameroonian customs administration said it registered 1,344 declarations which benefitted from the European Union preferential rates. In terms of losses in customs revenues, it registered FCfa 703 million over the same period. With regards to importers, 230 benefitted from the EU preferential rates.
As a reminder, Cameroon ratified the EPA in July 2014. This agreement has been in operation since 4 August 2016. Since then, the 1,760 European products affected by the dismantling of customs barriers can enter Cameroon through a preferential treatment by benefitting from a customs reduction of 25% every year. These EU products will be exempted from customs duties by 2020. In 2018, another category of European items will be added to the list of exemptions, then a third from 2021.