Jean Tchoffo, Secretary General of the Cameroonian economic ministry, on Wednesday, presided over a report presentation on the trade impact of the bilateral Economic Partnership Agreement (EPA) between Cameroon and the United Kingdom.
According to the official, the validation of this study is the first step preceding negotiations, which may have to be concluded by 2021.
These will include a review of the legal text of the Cameroon-European Union (EU) Partnership, with a view to its possible transposition into a bilateral Cameroon-United Kingdom post-Brexit EPA.
The British government informed Cameroon of its ambition in 2018. Following two informal meetings, the Cameroonian President authorized the opening of formal negotiations on August 29, 2018.
However, the start of these negotiations was predicated on the completion of a study that will provide an overview and outlook of trade, economic and financial relations between Cameroon and the United Kingdom. It is also a question of assessing the likely impact of this agreement on Cameroon’s economy and finances.
The Kingdom of Great Britain and Northern Ireland is a party to the EU-Cameroon EPA. However, the British people decided on March 27, 2017, in a referendum, to leave the Union.
As a result, the United Kingdom should in principle lose the benefit of trade agreements between the EU and its partners around the world.
In order not to disrupt trade with its partners after leaving the Union, the United Kingdom is engaged in negotiations of new trade agreements and treaties with its major trading partners.