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Yaoundé - 07 April 2020 -
Economy

Daniel Ona Ondo : “CEMAC countries have a yearly structural food deficit of about XAF2,000 billion”

Daniel Ona Ondo : “CEMAC countries have a yearly structural food deficit of about XAF2,000 billion”
  • Comments   -   Tuesday, 25 February 2020 15:06

(Business in Cameroon) - CEMAC countries have a yearly structural food deficit of about XAF2,000 billion. This was revealed by Daniel Ona Ondo, President of the CEMAC Commission while launching the session of the regional committee that identifies products to be granted regional free circulation rights.

This revelation seems like a formal invitation for economic operators to massively invest in the retailing sector because of the existing opportunities. It also informs about the opportunities in intra-community trade within CEMAC (officially estimated at 3% opposed to 15% for the UEMOA).

To reverse the trend and boost production as well as trade between the six CEMAC countries, institutions like the above-mentioned committee was created. This committee identifies products within the CEMAC region to be exempted from taxes. To be exempted, such products should include a certain percentage of raw materials into the production process.

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