Euro Weekly News | THE UK and Cameroon secure an Economic Partnership Agreement ensuring mutual continuity of trade, allowing businesses to trade freely as they do now, without any additional barriers or tariffs.
The agreement, which in 2019 saw UK’s total trade with Cameroon amount to £200 million, has been reached to roll over current EU-Cameroon trading arrangements from January 1, 2021.
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). The UK market accounts for 12 per cent 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.
Minister for International Trade Ranil Jayawardena said: “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.”
Liz Truss, MP for South West Norfolk and UK Trade Secretary tweeted: “Secured an Economic Partnership Agreement with Cameroon, supporting £200m of trade by allowing businesses to trade on the same preferential terms from 1 Jan. We’ve now secured trade deals with 63 countries plus EU. Trade = economic growth = jobs”