Home / Knowledge / News / Textiles / Economic agreement with EU to be a major pitfall

Economic agreement with EU to be a major pitfall

25
Mar '08
Cameroon signed an economic partnership agreement with the European Union on December 17, 2007 and experts have regarded it as one of the major follies on part of the Government.

The agreement that will span over a period of 15 years, encloses a tariff-free trade between Cameroon and the European Union.

A large number of civil society organizations protested against this agreement on grounds that Cameroon was too feeble to compete with the European Union markets.

According to experts, Cameroon is likely to loose CFA1,036 billion of customs revenue in the given period of 15 years.

Member countries of the Central African Monetary Community, (CEMAC) were determined to talk terms with the EU, however, Cameroon chose to single-handedly enter into the agreement.

This step is regarded an unforgettable economic blunder made by the Biya Government. Experts fear that while EU will flood the Cameroonian market with its goods, the latter will fail to do the same.

The country exports petroleum oils, oils, cotton and a number of other agricultural products. However, holding agriculture as its main sector, the country may not be able to meet the requirements of mass production which is crucial for withstanding international competition.

Already its agricultural production is weakening and to add to this, farmers still face problem like inadequate farm to market roads. Additionally, Cameroon exporters may also have to abide by a range of EU regulations that would ensure to keep them out of business.


Interviews View All

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Hannah Lane, Redress

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Paolo Crespi,

Paolo Crespi

Japan's Epson, a leader in digital textile printing, Italy's For.Tex, a...

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search