RESTRICTED WT/TPR/G/285 24 June 2013 (13-3195) Page: 1/118 Trade Policy Review Body Original: French TRADE POLICY REVIEW REPORT BY THE COUNTRIES OF THE CENTRAL AFRICAN ECONOMIC AND MONETARY COMMUNITY (CEMAC) In conformity with the Agreement establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), the general policy statement submitted by the countries of the Central African Economic and Monetary Community that are Members of the WTO is reproduced below. Note: This report is subject to restricted circulation and press embargo until the end of the first session of the meeting of the Trade Policy Review Body on the CEMAC countries that are Members of the WTO. WT/TPR/G/285 • CEMAC - 2 - TABLE OF CONTENTS COMMON REPORT 1 CONTEXT ..................................................................................................................... 7 2 COMMON ECONOMIC ENVIRONMENT ........................................................................... 8 2.1 Main features ............................................................................................................ 8 2.2 Monetary and foreign exchange policy .......................................................................... 8 2.3 Recent economic developments ................................................................................... 8 3 CEMAC IN PRACTICE ................................................................................................... 9 3.1 CEMAC trade policy instruments .................................................................................. 9 3.1.1 Investment regime ................................................................................................. 9 3.1.2 Other trade-related measures ................................................................................... 9 3.1.3 Relations with partners ........................................................................................... 13 3.2 CEMAC sectoral policies ............................................................................................. 14 3.2.1 Agriculture, livestock, forestry and fishing ................................................................. 14 3.2.2 Challenges to be faced in implementing trade policy and sectoral instruments in CEMAC ........................................................................................................................ 20 4 OUTLOOK .................................................................................................................. 21 4.1 At sectoral policy level............................................................................................... 21 4.1.1 As an energy power, CEMAC aims to create 600 enterprises that will generate some 15,000 direct jobs. .................................................................................................. 21 4.1.2 CEMAC metallurgical power will be built up in collaboration with large mining groups ready to engage in a partnership for the local processing of the raw materials ................ 23 4.1.3 CEMAC "Green Power" will flow from the sustainable development and full utilization of the economic potential of the forest and agricultural areas ................................... 24 4.2 At trade policy level .................................................................................................. 27 4.3 The emergence agenda ............................................................................................. 28 4.4 Components of the CEMAC PER Phase 1 (2010-2015) .................................................... 29 4.5 Implementation strategy ........................................................................................... 35 4.5.1 The PER financing strategy ...................................................................................... 35 4.5.2 The institutional framework for implementing the PER ................................................. 36 4.5.3 The timetable for the implementation of phase 1 of the PER ......................................... 36 REPORT BY CAMEROON 1 INTRODUCTION ........................................................................................................ 43 2 RECENT TRENDS IN THE CAMEROONIAN ECONOMY .................................................. 43 3 DEVELOPMENT OBJECTIVES ...................................................................................... 43 3.1 Vision objectives ...................................................................................................... 43 3.2 Objectives of the growth and employment strategy ....................................................... 43 3.3 Key considerations for the implementation of the DSCE .................................................. 44 4 GROWTH STRATEGY .................................................................................................. 44 4.1 Infrastructure development ........................................................................................ 44 WT/TPR/G/285 • CEMAC - 3 - 4.2 Modernization of the production system ....................................................................... 46 4.3 Human development ................................................................................................. 48 4.4 Regional integration and trade diversification ................................................................ 48 4.5 Financing of the economy .......................................................................................... 49 5 EMPLOYMENT STRATEGY ........................................................................................... 49 5.1 Increasing the supply of jobs ...................................................................................... 49 5.2 Job matching ........................................................................................................... 50 5.3 Improving the efficiency of the employment market ...................................................... 50 6 GOVERNANCE AND STRATEGIC MANAGEMENT OF THE STATE ................................... 51 6.1 Governance and the rule of law .................................................................................. 51 6.2 Strategic management of the State ............................................................................. 51 7 MACROECONOMIC AND BUDGETARY PLANNING ....................................................... 52 8 CONCLUSION............................................................................................................. 53 REPORT OF THE CONGO 1 INTRODUCTION ........................................................................................................ 60 2 MAIN FEATURES OF THE ECONOMY ........................................................................... 60 2.1 Economic growth ...................................................................................................... 60 2.2 Inflation .................................................................................................................. 60 2.3 Employment ............................................................................................................ 61 2.4 Trade balance .......................................................................................................... 61 2.5 Budgetary situation .................................................................................................. 61 2.6 Public investment ..................................................................................................... 61 2.6.1 Transport ............................................................................................................. 62 2.6.2 Energy and water .................................................................................................. 63 2.6.3 Telecommunications and new technologies ................................................................ 63 3 TRADE POLICY ASPECTS ........................................................................................... 63 3.1 Access to the profession of trader ............................................................................... 63 3.2 Regulation of imports and exports ............................................................................... 63 3.3 Prices and competition .............................................................................................. 64 3.4 Regional trade agreements ........................................................................................ 64 4 ONGOING REFORMS .................................................................................................. 64 4.1 Legal and judicial governance ..................................................................................... 64 4.2 Economic governance................................................................................................ 64 4.3 Administrative governance ......................................................................................... 65 4.4 Tax reform .............................................................................................................. 65 5 OUTLOOK .................................................................................................................. 65 5.1 Business climate ....................................................................................................... 65 5.2 Infrastructure .........................................................................................................