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Speech of Dignitary |
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Speech of Mbarga Atangana Luc Magoire－Minister of Commerce, Cameroon
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组委会新闻中心
2008-9-8 15:41:00 |
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Mrs. and Mr. Ministers,
Mrs. and Mr. Representatives of International Organizations’,
Mrs. and Mr. General Managers of Enterprises’,
Ladies and Gentlemen,
Please allow me, first of all, to express my gratitude to the Government of People’s Republic of China for the invitation addressed to Cameroon, for the 12th China International Fair for Investment and Trade in Xiamen, and for the warm welcome that we’ve received, on behalf of our delegation and me, from our arrival on the territory of China.
Our specials thanks to the authorities and people of the province of Fujian as well as the municipality of Xiamen.
I’d like to say without hesitation that: the People’s Republic of China is a great friendly country of Cameroon. It’s a kind of friendship that is been for long reinforced these years with the visit of Chief of State, His Excellency Paul BIYA, which has been achieved in this beautiful country on November 2006, on occasion of 2nd Conference of Chiefs of State and Forum on China-Africa Cooperation, and during the official visit of His Excellency HU JIN TAO in Cameroon from 30th January to 1st February 2007.
During these two visits, the Chiefs of States of Cameroon and of China have engaged to strengthen the cooperation and the business relation of the two of our countries. It’s certainly been justified by our presence in this commercial fair, of which one of the objectives is to open the Chinese market to African products. The government of Cameroon fully appreciates this initiative.
Mrs. and Mr. Economic operators,
Cameroon belongs to the sub-region of central Africa and the most important economy of the zone CEMAC, Economic and Monetary Community of Central Africa, which represents currently 30 million consumers.
Cameroon also takes parts in one of the most dynamic economies of CEEAC, Economic Community of States of Central Africa, which represents 105 million consumers.
A company which settles in Cameroon has then the possibility to export its products to the countries of these two economic zones.
Cameroon, actually Africa in miniature, is a country rich in diversification and possibilities of investment exist in various different domains. I shall mention, other than agricultural food: the transformation of primary agricultural products, cotton, cacao, tea, fruits and vegetable oils etc.
Regarding more specifically the cotton, Cameroon is the 3rd producer of francophone Africa with an annual production of 300 000 tons. This production was transformed locally at the rate of only 4%. This is to show the margin and Chinese investments of this sector are particularly welcome.
Other possibilities of investments exist in the domains of wood, telecommunication, and energy related construction of hydroelectric dams, mining industries like cobalt, rutile, bauxite and iron.
I shall not forget those sectors equally porters like the services and the construction, with point of focus on construction of social housing which Cameroon is greatly in need.
I’d therefore like to take this commercial fair to tell you that Cameroon is ready to welcome more Chinese investors. I shall also say that, today, there are already some investors of your country take operations in Cameroon in different sectors of our economic activities.
Besides the existence of this huge market of consumers which I’ve mentioned above, Cameroon have other advantages in terms of attraction of foreign direct investments.
First, our country enjoys a peaceful and stable environment which is, as you can understand, the major conditions of success of investment.
Then, in April 2006, Cameroon has reached the point of achievement of initiative heavily in debt poor countries (PPTE), upon decision of World Bank and IMF International. The decision of these two international institutions has just confirmed the credibility of our country in the international financial Community.
These laurels that Cameroon reaps today are actually, as like the representation, the result of a governmental policy designed and implemented since the mid 80s, with the support of the international community of donation funds. This policy has allowed to undertake certain amounts of reforms regarding economy aspect.
Mrs. and Mr. Economic operators, please allow me to tell you something.
In order to make the private sector the engine of economic growth, the Government of Cameroon has undertaken to divest the State from productive sector as an entrepreneur, with a privatization program which involves the transfer to the private sector ownership or the management of certain public enterprises in industrial, agricultural food and service sectors.
There pursuits the efforts of Government to improve in terms of our trade balance. It’s emphasized by reinforcement and an improvement of productive sector towards exportation, especially the promotion of manufacturing industries so as to modify favorably and sustainably the structure of production and commercial exchanges.
The financial sector has otherwise been restructured. This restructuration has allowed cleaning up the banking sector. In this regard, it’s obviously free to transfer the capitals. I shall add that the possibility is letting foreign investors to be able to interfere within the sector on partnership with COBAC, the Banking Commission for Central Africa.
It’s preferable to mark the creation of a securities exchange market in Douala, the economic capital, which has effectively begun its activities of quotation on 30th June 2006.
In the same movement, the government of Cameroon has undertaken the reform of customs taxation, which is characterized by, among others, the lower tariffs and adopting a common external tariff within the CEMAC zone.
Moreover, the creation of One-stop Point for foreign trade operators has allowed constantly reducing the transaction costs and the lead time of clearance of goods. Some efforts continue to be done so as to improve today’s results of achievements which are significant.
Regarding the promotion of attraction of investments, Cameroon National Assembly has adopted in 2002 the Charter of Investments. The establishment of its methods has already begun. Under this context, we are acknowledged the establishment in 2005 of the Agency for Promotion of Investments. Other methods will emerge in the near future, like the Agency for Promotion of Exportations.
It should be said that the adoption of the Charter of investment stems from the will of the Government of Cameroon to build up a competitive and prosperous economy through the development of investment and savings, with implementation of the objectives of its plan of economic and social action.
It’s also the reason why Cameroon has set up certain orientations, amongst which:
-Reaffirmation of the choice of the market economy as the privileged economic organization mode;
-Reaffirmation of the essential role of the State for the promotion of economic and social development;
-Recognition of the key role of entrepreneur, investor and private enterprise as critical factors of creation of wealt |
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