The government of Cameroon has signed an agreement with the United Arab Emirates to jointly fight against illicit financial flows. Alamine Ousmane Mey, Cameroon’s Minister of Finance signed on behalf of his country while Obaid Humaid Al Tayer signed on behalf of the UAE.

Cameroon’ finance minister who travelled to Dubai for the signing ceremony, stated that the agreement is proof willingness of both parties’ willingness and engagement in creating an attractive and mutually beneficial framework for businessmen in both countries.

Minister Ousmane Mey, in a press statement, said the multilateral agreement would curb tax evasion practices typical of multinational companies. He pointed out that he was acting upon direct instructions from the Head of State Paul Biya. He also noted that the agreement targets multinational companies that evade income on on revenues.