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Cameroon’s ministry of commerce exempts 17 companies from custom duties

On February 14, 2018, seventeen companies operating in Cameroon received certificates which allow them to export 174 products within CEMAC without paying customs duties. These certificates were delivered by Cameroon’s ministry of commerce because those companies were declared eligible to CEMAC’s preferential tariff regime.

  At the ministry of commerce, it is said that in the last four years, 568 products manufactured by 71 companies operating in the country were eligible for this regime which grants access to this market of 45 million consumers. Let’s note that to be eligible for this regime, companies must respect a certain quota during their industrial production. For instance, the product manufactured must be made with at least 40% of local raw materials. This requirement, coupled with the opportunity that the preferential regime represents for companies operating within CEMAC, explains the race for local raw materials observed with some large companies operating in Cameroon.

 

BRM

Concord Newsdesk

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Cameroon Concord  is an online publication covering and reporting on  local and world news, sports, entertainment, politics, business, and religious news. Serving Cameroonians .

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