Bafoussam Workshop Highlights Benefits of Cameroon-EU Trade Agreement
By Joseph Rayjay
Bafoussam, the capital of the West region, hosted a significant workshop on April 30. The workshop focused on exploring the opportunities and benefits of the Economic Partnership Agreements (EPAs) between Cameroon and the European Union (EU). Organized by the Central Africa Regional Integration and Investment Support Program (Pairac) in collaboration with the National Committee for Monitoring and Implementing the Cameroon-EU EPA, the event brought together a diverse range of stakeholders, including economic operators, experts, regional public administration officials, and representatives from international organizations.
Diverse Participation and Key Discussions
The workshop provided a platform for informative discussions on key topics, including the presentation of the EPA and its customs exemptions, rules of origin, intellectual property matters, and the synergy between the EPA and the African Continental Free Trade Area (AfCFTA). Participants engaged in lively debates and shared insights on how to maximize the benefits of the EPA, particularly for small and medium-sized enterprises (SMEs).
Experience Sharing: Proleg’s Success Story
A highlight of the event was the experience-sharing session by Proleg, a vegetable production company based in Bandjoun, near Bafoussam. Proleg, one of the winners of the inaugural “EPA Award,” shared its success story of leveraging the EPAs signed between African countries and the EU. The company received this prestigious award on July 5, 2023, in Yaoundé, in recognition of its innovative approach to trade and commitment to sustainable practices. Proleg’s presentation provided valuable insights into the opportunities and challenges of utilizing the EPA, and served as an inspiration to other businesses in attendance.
Objectives and Outcomes: Supporting SMEs
According to the event organizers, the Bafoussam workshop is part of a broader series of activities aimed at supporting the successful implementation of the EPA. These initiatives align with Pairac’s goals, which aim to increase the number of local businesses, particularly SMEs, benefiting from the trade agreement. Currently, large companies are the primary beneficiaries of the EPA, and the workshop sought to address this imbalance by providing targeted support and guidance to SMEs.
Fiscal Benefits Distribution: A Call to Action
Data from Cameroon’s customs services show that over the five years of the agreement’s implementation (2016-2020), which has gradually opened Cameroon’s market to 80% of EU imports—while providing full exemptions for Cameroonian exports to the EU—large businesses have captured 86% of the fiscal benefits generated by the EPA. Medium-sized enterprises have captured 13%, while the remaining 1% has been distributed among other beneficiaries. This disparity highlights the need for greater support and resources for SMEs, to enable them to fully leverage the opportunities presented by the EPA.
Conclusion and Future Directions
The workshop served as a crucial platform for stakeholders to discuss the benefits and challenges of the EPA and explore ways to increase the participation of SMEs in the trade agreement. By sharing experiences and expertise, participants can work towards a more inclusive and equitable implementation of the EPA, ultimately benefiting a broader range of Cameroonian businesses. The event concluded with a call to action, encouraging businesses, government agencies, and international organizations to work together to unlock the full potential of the EPA and promote sustainable economic growth in Cameroon.
Looking Ahead
As Cameroon continues to navigate the complexities of the EPA, the Bafoussam workshop demonstrated the importance of collaboration and knowledge-sharing in maximizing the benefits of the trade agreement. By building on the momentum generated by this event, stakeholders can work towards a more prosperous and equitable future for Cameroonian businesses, particularly SMEs. With the right support and resources, SMEs can play a vital role in driving economic growth, creating jobs, and promoting sustainable development in Cameroon.
