Strengthening Economy Ties : Ethiopia, Cameroon Forge New Partnerships

A delegation of business magnets from Ethiopia was in Douala on Thursday November 27 to meet with the business community. This initiative, driven by the Cameroon-Ethiopia Economic Chamber and the Cameroon Chamber of Commerce Industry Mines and Craft (CCIMA) was to bolster economic cooperation and unlock new opportunities across various sectors. Despite a history of limited trade, both countries are now focusing on collaboration in vital areas such as transport, construction, and agriculture. With Ethiopia's vast market potential and Cameroon’s strategic position in Central Africa, economic stakeholders are optimistic that this partnership could generate substantial benefits for both nations.
According to the representative of (CCIMA) and Technical Adviser to the President Landry Noupchang, the visit of the Ethiopian business delegation marks a pivotal moment in the two countries' long-standing relationship, which has primarily flourished in air transport rather than commercial exchanges. Notably, Cameroon’s imports from Ethiopia stand at CFA 186,000,000 XAF annually, while exports are a mere CFA 9,000,000 XAF, highlighting a critical trade imbalance that needs urgent addressing.
Before coming to Douala, the Ethiopian representatives engaged with key governmental authorities and potential business partners, exploring avenues for collaboration that could enhance bilateral trade. Reasons why the head of the Ethiopian delegation, Yonas Tadesse, Strategic Adviser to the President and Director General of OVID Holdings was aware that Cameroon is a strategic center for Central Africa and thus announced plans to establish a trading company for import and export purposes. He said the next step involves exploring and identifying potential strategic partnerships in Cameroon to foster fruitful business relationships. He expressed ho...