(Business in Cameroon) - Twenty-three Cameroonian companies have been authorised to export 168 products to the other 9 countries in the Economic Community of Central African States (CEEAC) exempted from customs duties. The corresponding authorisations have been handed over by the Minister of Commerce, Luc Magloire Mbarga Atangana.
Thanks to these approvals, Minister Mbarga Atangana specified, “our factories will now be able to operate continuously, day and night. This creates jobs locally, activity, income and foreign currencies in return. This is a key factor for the growth of our economy.” This especially as CEEAC, as indicated by the Cameroonian government member, is a vast market of 160 million consumers.
Among the companies which thus have the entire CEEAC market at their reach, are giants of the local industry such as Société Anonyme des Brasseries du Cameroun, Camlait, Nestlé Cameroun, Société Camerounaise de Savonnerie, OK Foods, Laboratoires Biopharma, Huileries Alimentaires du Cameroun, Société Industrielle de Cellulose, Sources du Pays, Bio Tropical… “These are the crown jewels of our industry”, noted the Minister of Commerce.
As a reminder, the preferential CEEAC tariff is applied to products based in several criteria. These include products manufactured from raw materials and consumables of entirely or partially foreign origin, but generating a community added value of minimum 30% of the factory cost before tax.
Are also eligible, products manufactured with 40% minimum of raw materials from CEEAC member States, animal, plant and mineral products, traditional arts products, etc.