Atlantic Chronicles

Cameroon’s Trade Volume Drops By 16%

Business, NEWS, Society

By Neville Mesumbe

Cameroon has witnessed a drop in its overall trade volume by 16 per cent in the first half of 2020 due to the novel COVID-19 pandemic. 

The revelation was made by the Minister of Trade, Luc Magloire Atangana, during a cabinet meeting presided by Prime Minister, Chief Dr. Joseph Dion Ngute, Friday, June 25 in Yaounde.

According to the Minister, the pandemic offers an opportunity for Cameroon to review its trade strategy by developing regional and sub-regional exchanges and to reduce the importation of food and manufactured products to minimize its dependence on foreign markets. 

Minister Mbarga Atangana further recommended the implementation of the industrialisation Master Plan to increase the volume of raw materials processed locally, revive major export channels and develop fish and aquaculture.

The Minister equally suggested the creation of foreign marketing points for “Made in Cameroon” products and the development of mentoring and networking avenues for national export companies. All these, according to the Minister will help to boast trade volume.

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