PANEL DISCUSSION
Assessing Cameroon’s progress on the AfCFTA

Date: Friday, January 19, 2023
Time: 10:00 am (Cameroon time), Hybrid  Event
Venue: Muna Foundation, Yaoundé
Onsite Attendance (Register Here) – Online Attendance (Register Here)

Background

On March 21, 2018, Cameroon, along with 43 African Union countries convened in Kigali, Rwanda, and signed the agreement establishing the African Continental Free Trade Area (AfCFTA). In June 2019, Cameroon’s National Assembly and Senate passed a bill authorizing the President of the Republic to ratify the AfCFTA agreement. On October 31, 2019, Decree N°2019/586 ratifying the agreement was signed, making Cameroon one of 54 countries to sign this historic trade agreement in Africa. The agreement aims to: progressively eliminate tariffs and non-tariff barriers; improve cooperation in the field of technical barriers to trade, sanitary and phytosanitary measures; develop value chains at regional and continental levels; and strengthen Africa’s development and industrialization characteristics. In other words, the fundamental mission of the AfCFTA is to stimulate trade between African countries by eliminating or reducing tariff and non-tariff barriers (elimination of 90% of customs duties on goods and services within a maximum of 15 years) and to put an end to the paradox of an Africa rich in natural resources, many of whose countries are dependent on the export of raw materials with no added value and therefore remain exposed to recurrent deterioration in the terms of trade. Despite an entry into force date of January 1, 2021, numerous delays have been noted at the state level, in particular in the presentation of tariff offers for certain customs unions and in the rationalization of certain regional economic communities characterized by the multiple membership of certain states. This is forcing stakeholders to look at the implementation of the AfCFTA, focusing on the issue of local preparedness. Indeed, while the AfCFTA promises to be a game changer for Cameroon, with its single market of over 1.3 billion people and an estimated GDP of $2.6 trillion, and in view of the goals set by the government in its new National Development Strategy 2020-2030 (NDS30), the need to put in place a solid mechanism to ensure that the application of AfCFTA regulations and standards does not become a technical obstacle to Cameroon’s trade with the outside world is becoming increasingly apparent. Therefore, in order to better implement the AfCFTA in Cameroon, it is appropriate to analyze and evaluate the government’s efforts in this direction and to identify the remaining challenges to be overcome.

Objectives

The main objective of this panel is to assess the progress Cameroon has already made in implementing the AfCFTA and the challenges it still faces in this regard. More specifically, it aims to:

• Present the opportunities of the AfCFTA for Cameroon
• Highlight the challenges associated with the full implementation of the AfCFTA in Cameroon.
• Discuss what has been done and what remains to be done for the successful implementation of the AfCFTA in Cameroon.
• Engage policy makers and the media on the reforms that need to be considered for the successful implementation of the AfCFTA in Cameroon.

Target audience

The target audience of this meeting includes policy makers, entrepreneurs, representatives of trade institutions and international organizations, civil society organizations, academia, financial institutions, business incubators, start-ups and media in Cameroon and abroad.

Expected outcome of the event

Increased stakeholder awareness of Cameroon’s progress in implementing the AfCFTA and the challenges that remain.

 Contact details

Email: [email protected] / Tel: (+237) 654 86 72 54