A special session of the Customs-Enterprise Forum was held on June 20th 2017 in Douala, under the theme: “Challenges, constraints and prospects of the Customs / Business Partnership in the era of the implementation of the bilateral EPA Cameroon /European Union “. The aim of the meeting was not only to consolidate the public-private partnership, but also to announce the start of the second phase of the Cameroon / European Union agreement scheduled for August 4th 2017.
Since August 4th 2016, Cameroon has started tariff dismantling under the Economic Partnership Agreement (EPA) concluded with the European Union (EU) and ratified by our country in July 2014. The first phase of the Economic Partnership Agreement the agreement was marked by the tariff dismantling of 25 to 50% of Group I products (industrial and high-tech machinery such as turbines, cranes, sewing machines, sewing machines, computers, need, such as medicines, medical devices, basic chemicals, etc.). This agreement is based on the duty-free and quota-free access of Cameroonian products to the EU market on the one hand and the progressive abolition of customs duties on 80% of the originating products of the EU when they enter Cameroon.
As part of the second tariff dismantling phase from August 4th 2017 to August 3rd 2018, the General Director of Customs has published the lists of products and rates applicable for products meeting the eligibility requirements. Group I products benefit from reductions of 50% in Customs Duty and 15% in Group II products; with the remaining duties and taxes remaining unchanged. Customs Director General Edwin Fongod Nuvaga said that Group II products such as trucks, transport vehicles, freight vehicles, and etc… are aimed at encouraging local production. It is important to note that only imports of EU origin are involved.
Investors and entrepreneurs with a pan-African vision should be able to identify and control the risks inherent in their activities in order to adjust their approaches and tools with a vision towards efficiency and performance. CAC International’s Legal and Fiscal division, with experienced professionals, offers legal and tax quality support that is necessary and indispensable for its clients to manage their projects and activities in Cameroon and in other countries we intervene. Our service lines cover the following areas: Tax, Legal, Social, Public Law & Institutional Support, Transactions & Projects, Real Estate, Customs & Exchange, Litigation & Arbitration, Investment and Disinvestment Operations.
In sum, the total value of the goods that benefited from the EPA is 25.3 billion CFA Francs. According to the CRTV, about 223 companies in various sectors have benefited from the first phase already. These include importers of phytosanitary products, fertilizers, chemicals, etc. A third phase of this tariff dismantling is announced for 2020.