Cameroon lost over CFA8mln to EPA with EU in H1 2023, up 61% YoY

Over the first six months of 2023, Cameroon lost a total of CFA8.6 billion in customs revenue due to the implementation of its Economic Partnership Agreement (EPA). This represents an increase of 61% compared to the same period in 2022, according to data provided by the Directorate General of Customs. This significant loss is the result of the acceleration of tariff reductions between the two partners. Phase 7 of this process began on August 4, 2022, with a 30% reduction in customs duties for 3rd group products, known to have high fiscal yield. This group includes among others utility vehicles,…