8, July 2020
ICC opens new representative office in Cameroon 0
The International Chamber of Commerce (ICC) has established a new presence in Cameroon, building on the organisation’s regional focus in Africa.
On 23 June, ICC’s World Council approved the opening of a new regional office (known as a national committee) in Cameroon. ICC Cameroon, which is located in Douala, works in cooperation with the Chamber of Commerce, Industry, Mines, and Artisans of Cameroon. The new office is led by Perrial Jean Nyodog, as Chair, and Ebenezer Njanga, as Secretary General. Mr Nyodog is also the CEO of Tradex, which trades in oil and oil by-products, while Mr Njanga is also the CEO of the Free Market Foundation of Central Africa.
John W.H. Denton AO said: “We’re pleased to welcome ICC Cameroon to our growing community of regional offices around the world. As Cameroon is a critical economy in Central Africa, ICC Cameroon will equip local businesses – both large and small – with the expertise required to address emerging challenges and forge long-term solutions for the future.”
The opening of ICC Cameroon is the latest step in ICC’s regional expansion in Africa. In response to the COVID-19 pandemic, Mr Denton convened a landmark Sub-Saharan Africa action group that brought together participants from close to 20 African countries to discuss a wide variety of regional issues, including operationalising the African Continental Free Trade Area. This past week, ICC joined the United Nations Capital Development Fund (UNCDF) and other partner organisations to launch a major survey to understand the unique challenges faced by small- and medium-sized enterprises (SMEs) in least-developed countries (LDCs), such as Burkina Faso.
ICC Cameroon will add to the success of these regional initiatives, by strengthening dialogue with regional, continental and international business communities. Local commissions and working groups are being created by ICC Cameroon in the following areas: arbitration and law; banking and finance; e-Commerce and digital economy; energy and environment; intellectual property; international trade; marketing and communication; and transport and logistics.
Mr Njanga, ICC Cameroon’s Secretary General, said that his team is well positioned to strengthen commercial relations between Central African businesses and ICC’s global network of over 45 million companies. “ICC Cameroon is looking forward to working with the ICC Global Headquarters in Paris and with ICC offices and members around the world to bring the perspective of Cameroonian businesses to ICC’s policies and standards for global trade,” said Mr Njanga. “This partnership will strengthen ties between Cameroon and the international business community, which will lead to improved development opportunities for all.”
Mr Njanga also noted the timeliness of the announcement as the world continues to respond to the economic and social consequences of COVID-19. “ICC Cameroon’s action plan includes activities that will allow companies to efficiently tackle challenges and issues that negatively impact international trade – and more urgently – give support to Cameroon and the business community in our ongoing response against COVID-19.”
With the addition of Cameroon, ICC now operates national offices in 90 countries worldwide. ICC Cameroon becomes the latest national committee since ICC Vietnam, which opened in November 2019.
Culled from International Chamber of Commerce
24, July 2020
EU calls on US to lift tariffs in plane dispute 0
The EU called Friday on the United States to lift tariffs imposed in a long-running dispute over aircraft subsidies after Airbus said it had brought itself into compliance with World Trade Organization rulings.
The billions of dollars in tariffs, which apply to a wide range of food and agricultural goods in addition to planes, have been even more burdensome due to the economic disruption caused by the coronavirus pandemic.
Airbus said Friday it had reached agreement with the French and Spanish governments that raises the interest rates on funds provided to help develop its long-haul A350 jet to levels the WTO considers appropriate.
The European Commission said this removes any grounds for the US to maintain tariffs imposed on EU exports under WTO rulings as well as making a strong case for a rapid settlement of the dispute.
“Unjustified tariffs on European products are not acceptable and, arising from the compliance in the Airbus case, we insist that the United States lifts these unjustified tariffs immediately,” EU trade commissioner Phil Hogan said in a statement.
– Epic legal battle –
An epic legal battle between Airbus and Boeing at the WTO began in 2004 when Washington accused Britain, France, Germany and Spain of providing illegal subsidies and grants to support the production of a range of Airbus products.
A year later, the EU alleged that Boeing had received $19.1 billion worth of prohibited subsidies from 1989 to 2006 from various branches of the US government.
The two cases were then tangled up in a legal quagmire, with each side being given partial vindication after a long series of appeals and counter appeals.
In 2019 the WTO authorised the US to impose up to 100 percent in taxes on $7.5 billion of European goods, its biggest ever penalty.
Washington then slapped 25 percent tariffs on a number of EU goods including wine, cheese and olives.
A 10 percent tariff on Airbus planes was increased to 15 percent in March, which also affects US airlines which buy Airbus aircraft, as the manufacturer points out.
In June the US threatened to levy tariffs on another $3.1 billion in EU goods as it has been authorised to do under a WTO ruling.
– Resolution in ‘mutual interest’ –
Airbus said the impact of those tariffs plus the coronavirus pandemic were the reason it was making the effort to resolve the dispute.
“The tariffs imposed by the United States Trade Representative (USTR) are currently harming all targeted industry sectors, including US airlines, and are adding to a very difficult environment as a consequence of the COVID-19 crisis,” the firm said.
Airbus said Friday that it “considers itself in complete compliance with all WTO rulings” after increasing the interest rate paid on the government funds it received.
The low interest rates on these funds were one of the arguments the US made that the EU was improperly subsidising Airbus.
“After 16 years of litigation at the World Trade Organization, this is the final step to stop the long-standing dispute and removes any justification for US tariffs,” said Airbus.
In addition to there no longer being a justification for the tariffs, the EU believes that in light of the global recession triggered by the coronavirus pandemic it makes sense to resolve the dispute.
“Especially under the current economic circumstances, the EU believes that it is in the mutual interest of the EU and the US to discontinue damaging tariffs that unnecessarily burden our industries and agricultural sectors,” the Commission statement said.
Hogan noted a WTO decision is expected soon that could give the EU the right to impose tariffs against the United States.
“In the absence of a settlement, the EU will be ready to fully avail itself of its own sanction rights,” he warned.
Source: AFP