The Government has announced that the UK has signed an Economic Partnership Agreement with Cameroon.
The post-Brexit trade deal will support jobs and ‘build future prosperity’, the Department for International Trade (DIT) said. The deal provides certainty for businesses in both countries and allows them to continue trading without any additional tariffs or barriers.
Trade between the UK and Cameroon was worth £200 million in 2019, while the UK accounts for 12 per cent of the total exports of bananas from Cameroon, and exporters from the UK sold £50 million worth of goods to the country in 2019.
The signing of the agreement follows an agreement made in December to roll over the EU-Cameroon trading arrangements from 1 January 2021, while the Government has now secured agreements that cover 66 countries as well as the EU, worth more than £890 billion in trade in 2019.
Today’s signing comes after the agreement to roll over current EU-Cameroon trading arrangements from 1 January 2021 concluded at the end of December.
The UK government has secured agreements covering 66 countries plus the EU, worth £890bn of trade in 2019.
James Duddridge, Minister for Africa, said: “This agreement will make sure around £200 million of trade between the UK and Cameroon can continue, supporting Cameroonian businesses to increase operations, enabling UK exporters to sell more goods and boosting prosperity for both countries as we together recover from the Covid-19 pandemic.
“This provides the continuity businesses in both the UK and Cameroon need to ensure trade between our countries continues to flourish and grow.”
Reanda UK is a subsidiary of leading independent accountancy firm Grunberg & Co Limited. Our aim is to help businesses and individuals to navigate the UK’s world-renowned business and tax infrastructure, and to support them with their international ambitions. To find out how we can help you, please contact us.