Cameroon-Equatorial Guinea : Fostering Trade For Regional Growth
Economic ties especially trade between Cameroon and Equatorial Guinea are positive with importation and exportation taking place within well stipulated legal terms. Collaborating forthe growth of these trade relations and the subsequent progress of the Central Africansub-region is a fundamental concern for the two brotherly countries whose bilateral relations operate on mutually beneficial agreements. To further deepen cooperation ties, the President of the Republic, Paul Biya, on September 13,2021, granted an audience to the Minister of Mines and Hydrocarbons of Equatorial Guinea,Gabriel Mbaga Obiang Lima. He was also the bearer of a sealed message from President Teodoro Obiang Nguema Mbasogo to the President of the Republic. In the course of the audience, President Paul Biya and the Minister talked on exploiting natural resources in the mines sector for the development of the two countries and the sub region affected by the Covid-19 pandemic. Fostering trade within the African free trade continental zone equally came under discussion at the Unity Palace audience.
As concerns bilateral trade, importation andexportation between Cameroon and Equatorial Guinea according to information from the customs department is smooth. Goods and services are transported by land, sea and air. Cameroon imports mainly crude petroleum, car parts and petroleum gas, and in return exports refined petroleum, broths and chocolate to Equatorial Guinea. The Minister of Mines and Hydrocarbonsof Equatorial Guinea was therefore in Cameroonto present and exploit new cooperation avenues in the gas and petroleum sector. In order to facilitate and ensure a safe transportation of goods and services between thetwo countries, a joint initiative on the construction of a bridge over the Ntem River is underway. The project on the construction of a bridge over the 460km water body, from the Kribi-Campo (Cameroon) to Bata (Equatorial Guinea)is a measure to give fresh impetus to the huge volume of trade existing between the two countries. The dual infrastructural project will facilitate development, improve trade and actas a catalyst for sub-regional integration within the Economic and Monetary Community of the Central African States (CEMAC). Cameroon and Equatorial Guinea are neighbouring nations that belong to the same regional economic blocs and international bodies.