Public Sensitised On Nigerian Business Opportunities
This is part of Cameroon's efforts to balance trade with Nigeria.
The Government of Cameroon has begun sensitising business persons
within the framework of improving trade and strengthening economic
cooperation with Nigeria. The Minister of Trade, Luc Magloire
Mbarga Atangana, on Wednesday, April 23, 2014, spurred the business
public in the port city, Douala, to take advantage of the opportunity
following the signing of a trade agreement between Cameroon and Nigeria
on April 11.
Coming barely two weeks after the deal was reached in the Cameroonian
capital Yaounde, the sensitisation on the part of Cameroon is prove of
its positive response to the agreement. The Minister disclosed that the
arrangement allows business persons and trade delegations to visit their
respective countries and each of the countries to participate in trade
fairs organised by either party. Hear him: “Both countries will
organise the first-ever business forum in Nigeria in June this year as a
way of furthering trade relations.”
According to him, there has been a net increase in exports to
Nigeria, notably coffee, tea, banana, pineapple, various cassava
products, vegetables, chocolate, wines, sweet drinks, soap, textiles,
detergents, waxes and various food products, zinc and aluminum kitchen
utensils. Meanwhile, Nigeria exported mainly hydrocarbons, rubber, glass
and glass wares, vehicle parts, transport vehicles, textile, perfumes
and beauty products to Cameroon as well as Nigerian investments, notably
the construction of a cement factory in Douala by the Nigerian
multinational Dangote.
The President of the Chamber of Commerce, Christophe Eken, said trade
exchanges between the two countries amounted to FCFA 382 billion in
2012, with an estimated import volume of 58% and 8% export volume.
Cameroon’s export to Nigeria stood at 22,6% in 2011 and 17,8% in 2012,
followed by France whose supplies to Cameroon was 12,8% in 2011 and
11,8% in 2012 and China 10,8% in 2011 and 10,4% in 2012. This shows that
Nigerian products enjoy a favourable place in the economy of Cameroon.>>>
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