Trade Minister, Luc Magloire Mbarga Atangana made the disclosure yesterday in Yaounde while chairing a series of consultation meetings with businessmen.

An inter-ministerial committee for the regulation of markets will soon go operational. Created by a Prime Ministerial Arête in October 2016, the committee will control trade with members being public administrations in the production and commercialisation as well as civil society such as consumers association, economic operators and distributors.

The revelation was made yesterday, January 10, 2017 in Yaounde by the Minister of Trade, Luc Magloire Mbarga Atangana while chairing a series of consultation meetings with economic operators and consumers’ associations. The committee, he stated, will regulate trade activities with the objective of protecting consumers in the distribution and commercialisation chain of production.

Officials of the Ministry of Trade and economic operators also made an assessment of promotional sales operations of basic commodities during the end-of-year festivities while also reflecting on the prospects for 2017. The Minister of Trade, economic operators, as well as consumer rights associations all rejoiced that basic commodities were available in 2016.

Mr Mbarga Atangana stated that in terms of price and availability, Cameroon’s trade sector is well structured and organised with the putting in place of a policy of projecting for the coming year. In a bid to stimulate consumption and promote local production, monthly Consumers’ Day will henceforth be organised.

In the fisheries and aquaculture sub-sector for instance, officials of the Ministry of Trade and economic operators saw the need for cohabitation between importers and local producers to meet demands. Businessmen in the sector through the spoke person of a major fish importer in Cameroon, Celestine Ketcha Courtes, solicited for the strict respect of 5 per cent tariff of custom duties and other taxes which she said for now is over 12 per cent.

The increase of fuel prices in the world market might lead to price hikes of fish. Local producers solicited for institutional support to cut down importation. For two days, the Minister of Trade is expected to meet with stakeholders in the sugar, rice, vegetable oil, poultry products, beef, building materials amongst others to evaluate the market of the just-ended year and make projections for 2017.