Experts examine impact of free trade on wages in Cameroon.

The hybrid panel discussion which had renowned varsity don, researchers, policy analysts, was place under the theme: “How Will Free Trade Affect Wages in Cameroon”. 

It was organised as part of a project known Trade For You, sponsored by US-based Atlas Network. 

Speaking during the webinar, the Director of Price Weights for Menoua division, Dr Tii Nchofoung, explained that wages are centrally bargained in Cameroon and have tended to mimic the rate of inflation. 

He also noted that free trade can stimulate demand for Cameroonian products across the world, leading to higher rates of employment that will see more workers transition from the informal sector to the formal sector. 

On his part, Dr Rodrigue Tchoffo, lecturer at the University of Dschang explained that the informal nature of work warrants the collective improvement of workers capacities, especially female workers. 

He added that women tend to be marginalised even in international trade as they have few opportunities to access trade finance and are still subject to discriminatory social norms. 

Dr Tchoffo then applauded CEPI’s push to vulgarise and encourage inclusive trading practices while calling for the organisation of more formal forums to explicitly address the needs of women exporters in Cameroon. 

While presenting the partial results of a CEPI research, Dr Tchoffo indicated that the study found a positive relationship between free trade and employment, especially when the country engages in market-oriented reforms. 

He went on to stress that the private sector will be the anchor for free trade and industrial competitiveness. 

During the discussions, Dr Faustine Kede, a consultant at the African Development Bank, recommended that there should be greater transparency in the implementation of the trade agreements, which helps to build trust among economic operators and the State. 

He noted that there is a need to organise training seminars, especially within the exporters and importers union to understand how the benefit from the Economic Partnership Agreements, EPA.

On his part, the CEPI founder, Henri Kouam, insisted that labor standards should be reviewed to ensure that they meet the international standards and guarantee the protection of workers’ rights. 

Kouam argued that this can easily be achieved if policies, geared towards reducing the informal sector, are multiplied within the context of the EPA. 

He also proposed that measures to stimulate private sector should be enhanced so as to lower trade costs and improve the value-added of products of Cameroonian origin.

This story was first published in The Guardian Post issue No:3150 of Wednesday June 26, 2024