Cameroon is the latest country to have signed a post-Brexit Economic Partnership Agreement (EPA) with the United Kingdom, UK as the latter prepares to leave the European Union plus the trade benefits attached to it being part of the bloc come January 1 2021.
In a statement issued Wednesday December 30 by UK’s Department for International Trade, it is said that an agreement has been reached between the two countries to roll over current EU-Cameroon trading arrangements from 1 January 2021.
According to this statement, the agreement allows the two countries to trade freely as before, without any additional barriers or tariffs, and provides a foundation to extend the trading relationship in future.
The UK Government has said that its trade with Cameroon in 2019 amounted to £200 million with fruits, mostly bananas, nuts and wood products as the top goods imports from Cameroon.
The UK market accounts for 12% of total exports of bananas from Cameroon and thus this agreement will maintain tariff-free market access to the UK.
It will also guarantee continued market access for UK exporters who sold £51 million in goods to Cameroon in 2019.