Un régime de banana-plantain archives
The United Kingdom will continue to trade with Cameroon without additional barriers as from January 1, 2021, the British Ministry of International Trade said in a statement on December 30.
Wednesday’s press release from the Department of International Trade said the United Kingdom and Cameroon had secured an Economic Partnership Agreement.
It said the deal allows businesses to trade freely as they do now, without any additional barriers or tariffs.
“The United Kingdom and Cameroon have today secured an Economic Partnership Agreement (EPA) that ensures mutual continuity of trade,” the press release read. “An agreement has been reached to roll over current EU-Cameroon trading arrangements from 1 January 2021.”
In 2019 alone, UK trade with Cameroon amounted to £200 million, an estimated FCFA 146 billion.
The Economic Partnership Agreement between both sovereign states, therefore, allows businesses to trade freely as they do now, without any additional barriers or tariffs and provides a foundation to extend their trading relationship in the future.
Top goods imports to the UK from Cameroon in 2019 were in fruit and nuts, mostly bananas (£27 million) and wood and wood products (£25 million), officials say.
The UK market accounts for 12% of total exports of bananas from Cameroon and this agreement will maintain tariff-free market access to the UK. It also guarantees continued market access for UK exporters, who sold £51m in goods to Cameroon in 2019.
Ranil Jayawardena, British Minister for International Trade said the Economic Partnership Agreement with Cameroon is expected to boost economic development.
His words: "The United Kingdom is committed to supporting developing countries by encouraging growth through trade. The preferential terms for their key exports, such as bananas, will support jobs and economic development in Cameroon, and make sure British consumers get the products they want."
The provisions of the Economic Partnership Agreement will apply from 1 January 2021.
After securing the Cameroon Economic Partnership Agreement on Wednesday, the UK government has secured trade agreements with 63 countries plus the EU in less than two years. Total UK trade with these countries was worth £885bn in 2019, records say.
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