Trade imbalance Revealed between Cameroon and South Africa
By EFFA TAMBENKONGHO – The information was revealed that Cameroon exports little to South Africa and imports more.
Statistics as far as trade is concern between Cameroon and South Africa has proven that low trade is the lack of investment between both countries. The statistics reveals that since 2007 to present percentage of trade has been zero percent but Cameroon’s import has been greater than exports to South Africa.
The revelation was made during a seminar at the Chamber of Commerce for the South African Delegation of business men with economic operators in Cameroon. The delegation also came in preparation of receiving Cameroonian business men in South Africa come October 18-28.In a remark made by the Vice president of the Chamber of Commerce, Ekoko Mukete, he said the mission of the delegation is timely because they will identify Cameroonian products while South Africa will seek investment opportunities in Cameroon. He added that business between the two countries is imbalance because less than 20 Cameroonian companies export to South Africa meanwhile Cameroon now host the South African airline, a South African company Tiger Brand which has taken over from Cameroon’s CHOCOCAM, MTN from South Africa has gained roots in Cameroon. Cameroon imports glassware, paper, hydrocarbon, among others from South Africa. Since 2005, Cameroon exports to South Africa have been minimal while import is heavy thereby South Africa benefiting more. He said the mission will gain a new impetus in trade between the two countries
The spokesperson of the South African delegation Thamsanga Ngwenya who is Director of Central and East Africa International Trade and Economic Department said the South African government is aware of the imbalance in trade and the solution is to do investments. He said they have reflected and now wants to see how they could invest in Cameroon. He added that they expect the visit of Cameroon to South Africa to come up with concrete and tangible bi-lateral relationship. Activities of investment are in the hands of the investors, he said. “We cannot force you to invest but we can produce the atmosphere to invest”. He asked the Business persons in Cameroon to present their projects and what they want from the South African Government. He said “We want your goods as well as we want to export ours. We also want to know your challenges”.
The Representative of the Director General of Planning and regional Development presented possible areas for investment in Cameroon such as education, tourism, Agriculture, Livestock, Iron, Nickel , copper, hydrocarbon, petroleum, mining and Natural gas among others.
To add to this, Cameroon is politically stable which provides less risk for investors.
