Enhancing Role Of Sub-regional Pilot

The conclusions of the just ended extraordinary summit of the Heads of State of the six countries of the Central African Economic and Monetary Community (CEMAC) that held in Yaounde  from 22 to 23 December last year, at the initiative of President Paul Biya are still fresh in many minds.

The six Presidents, five of them who all expressed their views at the end of the meeting, left Yaounde with rekindled hope to eschew any remote-controlled reforms to redress the ailing economic situation in the sub region. They all agreed that the destiny of the sub region remains in the hands of the sub region and cannot be dictated from outside. The solution they agreed is internal. The fear of an eventual devaluation of the Franc CFA was out rightly dismissed.

Given the leadership position Cameroon occupies, President Paul Biya in his end of year address to the nation found it necessary to come back to the issue recalling the importance of the summit and the context within which it was organised. The economic situation in the sub region is “gloomy” but can be better if there is improvement in management. It is within this context that the Head of State convened the Yaounde summit.

“This meeting enabled us to take measures to revive growth in our zone, while accelerating the integration of our economies and the free movement of goods and people. Cameroon will fulfil its duty to the end.” This statement is quite assuring considering the fact that the free movement of people and goods remain one of the main obstacles to promoting sub regional integration. The CEMAC sub region finds itself in a fix as a result of national self-centeredness. The six countries that make up the sub region have not been able to implement the very reforms formulated by them in a bid to boost inter-state trade.

Cameroon finds itself in a vantage position in that it is located between the west and central African sub regions. “Cameroon lies at the crossroads of two major economic blocks, namely West and Central Africa. Why therefore should it not seek to become the hub it is geographically predisposed to be”, President Biya pointed out. But as far as the sub region is concerned, he recalled the fact that too much dependence on oil for revenue has had a great economic toll on countries of the sub region.

As generally observed and a...