3. Following the EPA Committee's approval of an application for accession, the acceding State or regional organisation may deposit an instrument of accession or a notification confirming its provisional application of the Agreement with the Government of Cameroon, which shall be thereafter the depositary of this Agreement.
4. This Agreement shall enter into force or be provisionally applied in relation to the acceding State or regional organisation:
(a) on the date its instrument of accession or note of provisional application is deposited; or
(b) on such other date as the existing Parties and the acceding State shall agree.
Article 102. Dialogue on Financial Matters
The Parties agree to promote dialogue and transparency and to share best practices on tax policy and administration.
Article 103. Collaboration In Tackling Illegal Financial Activities
The Parties undertake to prevent and tackle fraudulent and corrupt illegal activities, money laundering and the financing of terrorism, and shall take the necessary legislative and administrative measures to comply with international standards, including those set out in the United Nations Convention against Corruption, the United Nations Convention against Transnational Organized Crime and its Protocols, the United Nations Convention for the Suppression of the Financing of Terrorism and the recommendations of the Financial Action Task Force. The Parties agree to exchange information and to cooperate in these areas.
Article 104. Relationship to other Agreements
1. The Parties agree that nothing in this Agreement requires them to act in a manner inconsistent with their WTO obligations.
2. The Parties agree to examine whether the provisions of this Agreement are consistent with the customs unions to which the signatories to this Agreement belong.
Article 105. Authentic Texts
This Agreement shall be drawn up in duplicate in the English and French languages, each text being equally authentic.
Article 106. Annexes and Protocols
The Annexes and the Protocols to this Agreement shall form an integral part thereof.
Conclusion
In witness whereof the undersigned, duly authorised thereto by their respective Governments, have signed this Agreement.
Done in Duplicate at London this ninth day of March 2021 in the English and French languages, both texts being equally authoritative.
For the United Kingdom of Great Britain and Northern Ireland:
RANIL JAYAWARDENA
For the Republic of Cameroon:
ALBERT FOTABONG NJOTEH
Attachments
ANNEX V. Trade in Services, Competition and Investment
OBJECTIVES AND PRINCIPLES
1. Objectives
1. Economic and trade cooperation shall aim at fostering the smooth and gradual integration of Cameroon into the world economy, with due regard for its political choices and development priorities, thereby promoting sustainable development and contributing to poverty eradication in the Central African region.
2. The ultimate objective of economic and trade cooperation is to enable Cameroon to play a full part in international trade. In this context, particular regard shall be had to the need for Cameroon to participate actively in multilateral trade negotiations. Given the current level of development of Cameroon, economic and trade cooperation shall be directed at enabling Cameroon to manage the challenges of globalisation and to adapt progressively to new conditions of international trade, thereby facilitating its transition to the liberalised global economy. In this context, close attention should be paid to Cameroon's vulnerability resulting from dependency on commodities or a few key products, including value-added agro-industry products, and the risk of preference erosion.
3. To this end, economic and trade cooperation shall aim, through national and regional development strategies, at enhancing the production, supply and trading capacity of Cameroon as well as its capacity to attract investment, as the basis for such enhancements in the Central African region. It shall further aim at creating a new trading dynamic between the Parties, at strengthening Cameroon's trade and investment policies, at reducing its dependency on commodities, at promoting a more diversified economy and at improving Cameroon's capacity to handle all issues related to trade, thereby supporting such an economy in the Central African region.
4. Economic and trade cooperation shall be implemented in full conformity with the provisions of the World Trade Organization ("WTO"), including special and differential treatment, taking account of the Parties' mutual interests and their respective levels of development. It shall also address the effects of preference erosion in full conformity with multilateral commitments.
2. Principles
1. Economic and trade cooperation shall be based on a true, strengthened and strategic partnership. It shall further be based on a comprehensive approach which builds on the strengths and achievements of the previous ACP-EC Conventions.
2. Economic and trade cooperation shall build on Central Africa's regional integration initiatives. Cooperation in support of regional cooperation and integration and economic and trade cooperation shall be mutually reinforcing. Economic and trade cooperation shall address, in particular, supply and demand side constraints, notably interconnectivity of infrastructure, economic diversification and trade development measures as a means of enhancing Cameroon's competitiveness, thereby supporting the promotion of these objectives in the Central African region. Appropriate weight shall therefore be given to the corresponding measures in Cameroon's development strategies, which the UK shall support, in particular through the provision of aid for trade.
3. Economic and trade cooperation shall take account of the different needs and level of development in Cameroon.
COOPERATION IN THE INTERNATIONAL FORA
3. General Provisions
1. The Parties underline the importance of their active participation in the WTO as well as in other relevant international organisations by being or becoming members of these organisations and closely following their agenda and activities.
2. They agree to cooperate closely in identifying and furthering their common interests in international economic and trade cooperation in particular in the WTO, including participation in setting and conducting the agenda in future multilateral trade negotiations. In this context, particular attention shall be paid to improve access to the UK and other markets for products and services originating in Cameroon.
3. They also agree on the importance of flexibility in WTO rules to take account of Cameroon's level of development as well of the difficulties faced in meeting its obligations. They further agree on the need for technical assistance to enable Cameroon to implement its commitments.
4. The UK agrees to assist Cameroon in its efforts to become an active member of these organisations, by developing the necessary capacity to negotiate, participate effectively, monitor and implement these agreements.
TRADE IN SERVICES
4. General Provisions
1. The Parties underline the growing importance of services in international trade and their major contribution to economic and social development.
2. They reaffirm their respective commitments under the General Agreement on Trade in Services ("GATS"), and underline the need for special and differential treatment to suppliers of services from Cameroon.
3. In the framework of the negotiations for progressive liberalisation in trade and services, as provided for in Article XIX of GATS, the UK undertakes to give sympathetic consideration to Cameroon's priorities for improvement in the UK's GATS schedule, with a view to meeting its specific interests.
4. The Parties further agree on the objective of extending under the economic partnership agreements, and after they have acquired some experience in applying the Most Favoured Nation ("MFN") treatment under GATS, their partnership to encompass the liberalisation of services in accordance with the provisions of GATS and particularly those relating to the participation of developing countries in liberalisation agreements.
5. The UK shall support, in conformity with Article 2 of this Annex, Cameroon's efforts to strengthen its capacity in the supply of services. Particular attention shall be paid to services related to labour, business, distribution, finance, tourism, culture and construction and related engineering services with a view to enhancing its competitiveness and thereby increasing the value and the volume of its trade in goods and services.
MARITIME TRANSPORT
5.
1. The Parties acknowledge the importance of cost-effective and efficient maritime transport services in a safe and clean marine environment as the main mode of transportation facilitating international trade and thereby constituting one of the forces behind economic development and the development of trade.
2. They undertake to promote the liberalisation of maritime transport and to this end apply effectively the principle of unrestricted access to the intemational maritime transport market on a non-discriminatory and commercial basis.
3. Each Party shall grant, inter alia, a treatment no less favourable than that accorded to its own ships, for ships operated by nationals or companies of the other Party, and for ships registered in the territory of either party, with respect to access to ports, the use of infrastructure and auxiliary maritime services of those ports, as well as related fees and charges, customs facilities and the assignment of berths and facilities for loading and unloading.
4. The UK shall support, in conformity with Article 2 of this Annex, Cameroon's efforts to develop and promote cost-effective and efficient maritime transport services with a view to increasing the participation of its operators in international shipping services.
INFORMATION AND COMMUNICATION TECHNOLOGIES, AND INFORMATION SOCIETY
6.
1. The Parties recognise the important role of information and communication technologies, as well as the active participation in the Information Society, as a pre-requisite for the successful integration of Cameroon into the world economy.
2. They therefore reconfirm their respective commitments under existing multilateral agreements, and note in particular the value of the protocol on Basic Telecommunications attached to the GATS. Where Cameroon, or in the event of accession, another Central African Contracting State, is not yet a member of relevant agreements, it will consider acceding to them.
3. The Parties furthermore agree to participate fully and actively in any future international negotiation which might be conducted in this area.
4. The Parties will therefore take measures that will enable inhabitants of Cameroon easy access to information and communication technologies, through, amongst other things, the following measures:
- the development and encouragement of the use of affordable renewable energy resources;
- the development and deployment of more extensive low-cost wireless networks; and
- the development and encouragement of the use of local content for information and communication technologies.
5. The Parties also agree to step up cooperation between them in the area of information and communication technologies, and the Information Society. This cooperation shall, in conformity with Article 2 of this Annex, in particular be directed towards greater complementarity and harmonisation of communication systems, at national, regional and international level and their adaptation to new technologies.
COMPETITION POLICY
7.
1. The Parties agree that the introduction and implementation of effective and sound competition policies and mules are of crucial importance in order to improve and secure an investment friendly climate, a sustainable industrialisation process and transparency in the access to markets.
2. To ensure the elimination of distortions to sound competition, they undertake to implement national or regional rules and policies including the control and under certain conditions the prohibition of agreements between undertakings, decisions by associations of undertakings and concerted practices between undertakings which have as their object or effect the prevention, testriction or distortion of competition. The Parties further agree to prohibit the abuse by one or more undertakings of a dominant position in the market of either Party, or, in the event of accession, in the territory of a Central African Contracting State.
3. The Parties also agree to reinforce cooperation in this area with a view to formulating and supporting effective competition policies with the appropriate national competition agencies that progressively ensure the efficient enforcement of the competition rules by both private and state enterprises. Cooperation in this area shall, in particular, in conformity with Article 2 of this Annex, include assistance in the drafting of an appropriate legal framework and its administrative enforcement.
INVESTMENT AND PRIVATE SECTOR DEVELOPMENT SUPPORT
8.
Cooperation provided through multilateral organisations and international financial institutions may provide long-term financial resources, including risk capital, to assist in promoting growth in the private sector and help to mobilise domestic and foreign capital for this purpose. Such cooperation may, through financial and technical assistance, support the policies and strategies for investment and private sector development as set out in this Agreement.
INVESTMENT PROMOTION
9.
The UK and Cameroon, recognising the importance of private investment in the promotion of their development cooperation and acknowledging the need to take steps to promote such investment, may:
(a) implement measures to encourage participation in their development efforts by private investors who comply with the objectives and priorities of the development cooperation of the Parties and with the appropriate laws and regulations;
(b) take measures and actions which help to create and maintain a predictable and secure investment climate as well as enter into negotiations on agreements which will improve such climate;
(c) encourage the UK private sector to invest and to provide specific assistance to its counterparts in Cameroon under mutual business cooperation and partnerships;
(d) facilitate partnerships and joint ventures by encouraging co-financing;
(e) sponsor sectoral investment fora to promote partnerships and external investment,
(f) support efforts of Cameroon to attract financing, with particular emphasis on private financing, for infrastructure investments and revenue generating infrastructure critical for the private sector;
(g) support capacity building for domestic investment promotion agencies and institutions involved in promoting and facilitating foreign investment,
(h) disseminate information on investment opportunities and business operating conditions in Cameroon; and
(i) promote national, regional and UK-Cameroon private sector business dialogue, cooperation and partnerships, in particular through a UK-Cameroon private sector business forum. Support for operations of a UK-Cameroon private sector business forum shall be provided in pursuit of the following objectives:
(i) to facilitate dialogue within the Cameroon-UK private sector;
(iii) to analyse and periodically provide the relevant bodies with information on the whole range of issues concerning telations between the private sectors of Cameroon and the UK or, more generally, of economic relations between the UK and Cameroon, and
(iii) to analyse and provide the relevant bodies with information on specific problems of a sectoral nature relating to, inter alia, branches of production or types of products at regional or sub-regional level.
INVESTMENT FINANCE AND SUPPORT
10.
1. Cooperation as specified in Article 8 may provide, in particular:
(a) grants for financial and technical assistance to support policy reforms, human resource development, institutional capacity- building or other forms of institutional support related to a specific investment, measures to increase the competitiveness of enterprises and to strengthen the capacities of the private financial and non-financial intermediaries, investment facilitation and promotion and competitiveness enhancement activities;
(b) advisory and consultative services to assist in creating a responsive investment climate and information base to guide and encourage the flow of capital; and
(c) risk-capital for equity or quasi-equity investments, guarantees in support of domestic and foreign private investment and loans or lines of credit on conditions which may be agreed on a case-by-case basis, by the organisation concerned.
INVESTMENT PROTECTION
11.
1. The UK and Cameroon affirm the need to promote and protect the other Party's investments on their respective territories.
2. In order to encourage UK investment in development projects of special importance to, and promoted by Cameroon, the UK, on the one hand, and Cameroon, on the other, may also conclude agreements relating to specific projects of mutual interest where UK enterprises contribute towards their financing.