Minister Felix Mbayu met with the British High Commissioner on July 9, 2021.
The Minister Delegate to the Minister of External Relations in charge of Cooperation with the Commonwealth, Felix Mbayu, and the British High Commissioner to Cameroon, Dr. Christain Dennys-McClure on July 9, 2021 exchanged legally binding documents for the implementation of the Economic Partnership Agreement (EPA) between the two countries. This was during an audience the Minister granted the British diplomat at the Ministry of External Relations. The legal instrument permits for trade deals to continue smoothly between the two countries despite the United Kingdom’s exit from the European Union.
Speaking to reporters after the audience, the British High Commissioner said both parties are now looking forward to the implementation of the agreement. “The Minister and I have exchanged the final legal documents to conclude the Economic Partnership Agreement which was signed in March 2021 between Cameroon and the United Kingdom. It has been the end of a long process for the teams involved. We are now looking ahead to the mutual delivery of the agreement and we hope that it will lead to the broadening of our economic relationship to the huge benefit of all our citizens,” Dr. Christain Dennys-McClure stated.
With regards to commercial deals between the two countries, a duty-free clause will be applied as goods will witness a tariff-free access to each of the markets of either countries. Some of the Cameroonian products expected to benefit from the duty-free concepts include edible fruits like bananas, palm oil, milk, coffee, cocoa, wood and its byproducts and cereal. Some goods which will be imported from the UK include chemicals, vehicles and their parts, household appliances, hydrocarbons, cosmetic and pharmaceutical products.
Trade exchanges between Cameroon and Britain are encouraging with the UK market accounting for 12 per cent of banana exports from Cameroon in 2019 with transactions during the same period estimated at worth £200 million (approximately FCFA 153 billion).
Other partnership agreements exist between the two countries besides trade. There are several British companies in Cameroon involved in the oil and gas sector, drinks, agriculture and environmental protection. Education, women empowerment, the promotion of human rights, science and technology are other sectors both countries collaborate in. The British government equally shares values of democracy and the rule of law with Cameroon.
Source link : https://allafrica.com/stories/202107130340.html
Author : Cameroon Tribune
Publish date : 2021-07-13 08:33:10