CEMAC international Trade Stakeholders have been briefed about the experience of the A d-hoc S ubcommittee responsible for implementing the initiative on Guided Trade of the Continental Free Trade Area (AfCFTA), at the end of the sub-regional workshop on the optimization of the AfCFTA organized in Douala by the United Nations Economic Commission for Africa (ECA).
According to information obtained from the CNCC, the guests of the Director General of the CNCC were presented with Cameeroon ‘s progress since October 31, 2019, the date of the signing of the decree of the President of the Republic ratifying the agreement on the AfCFTA. “The Technical Advisor No. 1 of the CNCC Etienne Cham Bama, also Coordinator of the technical secretariat of the ad hoc subcommittee responsible for monitoring the implementation of the initiative on guided trade of the AfCFTA in Cameroon and the Director of Assistance to Shippers of the CNCC, Claire Onana Takouchop present at this meeting, spoke about the awareness-raising, support and facilitation actions carried out daily with economic operators by the CNCC.
In amiration, the Vice-president of the Chamber of Commerce of Equatorial Guinea and the member of the National Transitional Council of Chad agree to share these expeiriences so that the AfCFTA will be effective in the CEMAC Sub-Region ,” we learned.
Notwithstanding the benefits offered by AfCFTA, the volume of intra-African trade represents only 17% for a market estimated at 1.3 billion consumers. According to the report of the National Institute of Statistics on Cameroon’s foreign trade in 2023, some 358.6 billion FCFA (12.7%) of the 2,988.6 billion FCFA in export revenues earned by Cameroon come from African trading partners. To encourage local economic operators to boost intra-African trade, the CNCC is responsible for getting Cameroonian shippers to take advantage of this preferential regime which will eventually allow them to trade across the continent, without paying customs duties on 90% of trade.
