logoBC
Yaoundé - 24 October 2021 -
Public management

Cameroon: Transport equipment imports skyrocketed in H1-2021 with the 5th phase of EU’s EPA

Cameroon: Transport equipment imports skyrocketed in H1-2021 with the 5th phase of EU’s EPA
  • Comments   -   Tuesday, 05 October 2021 15:38

(Business in Cameroon) - Cameroon’s expenditures on transport equipment imports rose by 60% year-on-year in H1-2021, according to the H-2021 foreign trade report published by the national institute of statistics INS. 

The institute provides no reasons to explain such a rise but on closer observation, it occurred after the launch, on January 1, 2021, of the fifth phase of the tariff dismantling process in the framework of the economic partnership agreement with the EU in January 2021. 

That fifth phase consecrated the first 10% reduction of customs duties on products with high customs revenue yields like personal cars and motorbikes. On August 4, 2021, when the sixth phase became effective, another 10% reduction of customs tariff was applied to make it a total of 20% reduction now. This could further boost the importation of those equipment in Cameroon. 

The customs tariff dismantling has reached 100% over a year ago for products like tractors and motor spare parts belonging to the first group. As for trucks and similar vehicles belonging to the second group, as of August 2021, 75% of the tariffs were already dismantled. 

In Cameron and in Sub-Saharan Africa in general, most of the transport equipment in circulation are Asian brands but they are sold by European concessionaires. Those concessionaires usually work with Asian brands delocalized to Europe with enough local labor force to be eligible for the Economic partnership terms. 

Brice R. Mbodiam

 

westend-farms-inaugurates-its-ndokoa-integrated-pork-production-and-commercialization-center
On October 20, 2021, Minister of Livestock, Dr. Taiga officially inaugurated the integrated pork production and marketing center built by Westend Farms,...
cameroon-beac-forecasts-revival-of-sales-and-production-in-the-logging-sector
After a challenging environment in 2020, due to the coronavirus pandemic, the recovery observed in Cameroon's economic landscape since the beginning of...
exports-php-to-start-generating-more-revenues-as-early-as-january-2022-thanks-to-a-fairtrade-decision
In January 2022, the export prices of local banana producer Plantations du Haut Penja (PHP) will increase. This price increase is the result of a decision...
cameroon-announces-public-accounting-and-budgeting-reform-to-improve-management-transparency-and-prevent-accumulation-of-payment-arrears
 In January 2022, Cameroon will begin to experiment with a new accounting reform called accruals-based accounting and budgeting in the framework of...

Mags frontpage


Business in Cameroon n104: October 2021

Dossier Where does Cameroon stand in international trade?


Henri-Claude Oyima : “BGFIBank Cameroon is truly one of our success stories.”


Investir au Cameroun n114: Octobre 2021

Dossier La place du Cameroun dans le commerce international


Henri-Claude Oyima : «BGFIBank Cameroun est vraiment l’une de nos success-stories.»