logoBC
Yaoundé - 09 July 2020 -
Public management

Cameroon to improve its exports toward Nigeria and CEEAC countries

Cameroon to improve its exports toward Nigeria and CEEAC countries
  • Comments   -   Friday, 20 September 2019 03:46

(Business in Cameroon) - Since September 18, 2019, public institutions in charge of the development of Cameroon's exports, the private sector as well as technical and financial partners have been analysing the updated strategy elaborated by 2ACD and Quarein Group to boost exports toward Nigeria and CEEAC countries.   

According to Isaac Tamba, director of the economy and public investments’ planning at the ministry of economy, the updated strategy should provide a solid base to support the development of the country’s exports.

He explained that Cameroon has decided to turn towards Nigeria and CEEAC markets because its economy is still recording large trade deficits. In 2018, this deficit rose by XAF265.9 billion (22.8%) year to year to reach XAF1438.3 billion.

This is contrary to forecasts made in the Growth and Employment Strategy Paper,” the official said. According to that paper, between 2010-2012, the trade balance deficit should stand around 1.3% of GDP and the account surplus should be around 1.46% between 2013 and 2020, Isaac Tamba added.

Olomo Ateke Engelbert, head of economic policies at the ministry of economy, indicated that the updated strategy would highlight products the concerned countries need so that the private sector can start implementing the strategy.

Let’s note that the private sector via the GICAM, has advocated for an economic partnership with Nigeria. It used to plead for the formalization of exchanges between Nigeria and Cameroon. As it explains, Cameroon would have much to gain by trading with this giant hosting more than 150 million residents, with which it shares 1,500 kilometres of border. The Democratic Republic of Congo (81 million residents) is also one of the countries with which the private sector wants Cameroon to sign an economic partnership.  

S.A.

cameroon-plantain-chips-producer-delors-leuwing-n-wins-3rd-edition-of-pierre-castel-prize
Delors Leuwing Ngounouo (photo) is the winner of the 3rd edition of Pierre Castel Prize in Cameroon, thanks to his company Mboa Snackery Sarl, which...
investisseurs-et-partenaires-i-p-announces-interest-free-loan-programme-to-support-smes-in-cameroon
Investisseurs et Partenaires (I&P), an investment fund dedicated to SMEs based in Africa -chaired by Jean-Michel Severino (photo)- and Somtou Cameroun...
cameroonian-start-up-ease-travel-launches-a-cfaf150-mln-fundraising-to-develop-operations
Since June 15, 2020, the Cameroonian start-up Ease Travel Services, with Franck Dakayi (photo) as co-founder, has been in the fundraising market to raise...
hevecam-lays-off-1-037-employees
As announced on June 26th, Hevea Cameroun (Hevecam), a subsidiary of the British group Corrie MacColl specialized in rubber production, laid off part of...

Mags frontpage


Business in Cameroon n88: June 2020

Covid 19 Its impacts so far


Emmanuel de Tailly (SABC) : «Preserving jobs at all costs»


Investir au Cameroun n98 Juin 2020

Covid 19 Et maintenant, l’étendue des dégâts


Emmanuel de Tailly (SABC) : «Maintenir l’emploi coûte que coûte »