Chair,
I would like to warmly welcome the distinguished delegations from CEMAC (Central African Economic and Monetary Community) led by the Minister of State from the Republic of the Congo, and congratulate them on their second Trade Policy Review as an economic community.
I would also like to thank you, Chair, the Secretariat, and our distinguished Discussant, Ambassador Canabady, for facilitating this review.
On the upcoming 30th anniversary of CEMAC's foundation, the principles of transparency and collegiality upon which CEMAC was founded are no less vital than they were in 1994 - to promoting prosperity within the region.
Their commitment to these principles is not only denoted by the increasing integration of CEMAC's members into their own economic community, but by the transparency and collegiality which has accompanied their members' commendable engagement within the WTO.
We welcome, for instance, the high level of participation which Chad, the Republic of the Congo, Gabon, and the Central African Republic (CAR) have shown within the Joint Initiative on Investment Facilitation for Development. Continued collaboration can ensure that the Agreement is a success following the recent conclusion of text-based negotiations.
I encourage these countries to also consider joining the E-Commerce and Domestic Regulation plurilaterals to further their positive contributions to the WTO.
The UK wanted to commend Chad for its recent coordination of the Least Developed Country Group, a group which the UK is proud to support through its Trade and Investment Advocacy Fund.
The UK similarly appreciated Cameroon's coordination of the Africa Group, who the UK are proud to support. During Cameroon's time as coordinator, we have seen the group shaping some of the key debates in the run-up to MC13.
Given the positive impact which their fellow CEMAC members have had within the WTO,I hope that Equatorial Guinea will join their co-members within the WTO, particularly given the benefits the UK believes that accession would bring to Equatorial Guinea's communities and businesses.
I would like to commend CEMAC's commitment to the African Continental Free Trade Area. As the African Union's most ambitious regional economic integration initiative, AfCFTA has the potential to be a game-changer for Africa's inclusive economic growth, driving industrialisation, generating jobs, and delivering prosperity across the continent.
The UK, as the first non-African country to sign an MoU with the AfCFTA secretariat in September 2021, is glad to see CEMAC's national-level implementation priorities regarding AfCFTA, and their clear commitment to making further progress in the future.
Chair, I would now like to turn to our recent engagement with Cameroon on a bilateral basis. On 13 June, the UK had the pleasure of hosting a Cameroon delegation in London for our first Economic Partnership Agreement Committee since the EPA was ratified in June 2021. The UK-Cameroon EPA underpins our strong trading relationship providing duty-free quota-free access to UK markets on everything but arms.
The inaugural Committee meeting was a warm and positive occasion and marks a significant milestone in our trading relationship following impressive growth in our bilateral trade - up by 158% to nearly £1bn in the last year.
The UK was pleased to hear that Cameroon has fully implemented tariff liberalisation commitments in accordance with the timeline set out in the Agreement. We look forward to continuing our close and constructive working relationship to ensure that the full potential of the EPA is maximised for both parties.
The UK was also pleased to welcome Cameroon and Gabon at a productive Commonwealth Trade Ministers Summit held in London on 5 June. The Summit provided an opportunity for all members to reaffirm their commitment to a transparent and inclusive rules-based multilateral trading system, with the WTO at its core, and discuss the importance of engaging with the upcoming MC13.
I would therefore like to praise Cameroon's decision to host MC14, and we look forward to working with them from an early stage to ensure that we maximise the outputs of MC14 and enable WTO Members to deliver for businesses and communities around the world.
Chair,
I would like to thank CEMAC for the preparations that have gone into their second Trade Policy Review and for the commendable contributions their members have made to this organisation. I hope that CEMAC continues to pursue growth and prosperity, and that they remain committed to their admirable principles of transparency and collegiality. As the CEMAC anthem suggests, "In the light, harmony, and the future will be more beautiful!" / "Dans la lumière, la concorde, et l'avenir sera plus beau!"
