Bilateral trade between Cameroon and USA decrease by 47%

The amount of trade between the two countries moved from 93,500 billion CFA francs to 49,000 billion CFA francs in the month of August 2014. According to the U.S. Commerce Department, the sales level of the Cameroonian products on the U.S. market is declining.

Six main products are exported from Cameroon to the United States, namely; coffee, semi-processed cocoa, rubber, wood, art objects and cocoa. The rate of export of these products saw a drop of 47% in one month. Specialists in the agricultural sector believe that this decline can be explained by the decline in agricultural production in Cameroon, especially that of cocoa. In addition, experts also believe that art objects are exported in small quantities.

Art sector is unable to compete in the U.S. market because of the lack of structuring. However, trade between the two countries had greatly increased for 12 years and had reached the sum of $ 538 million, about 269 billion CFA francs in 2011 against 265 million (approximately 120 billion Fcfa in 2010), an increase of 26% in one year.

Thus, Cameroon remains deficit on the trade balance. A fall that remains profitable in the United States who realized a good rate of export of its products to Cameroon.

Cameroon was the third eligible African countries to the African growth and opportunity act (Agoa), but is unable to seize the opportunity given by this American Act to better penetrate the United States market and export products without customs duties and quota.

The Americans have not also hesitated to send a document to the Government of Cameroon in which they expose the difficulties of a better use of the benefits of Agoa, but also the actions to take to improve its participation in this partnership.

In this document, the American authorities acknowledge that Cameroon is one of the African leaders in terms of exports to the United States with $ 153 million, or slightly more than 688 billion CFA francs in 2006.

But the Americans have identified a set of obstacles retarding the greater use of the opportunities offered by Agoa, namely the business and investment environment marked by long delays and administrative procedures; lack of access to finance small and medium-sized enterprises; the lack of control of the U.S. market by the Cameroonian private sector; insufficient production and lack of infrastructure.

Official statistics of the Ministry of Commerce show that Cameroon happens to export 600 products on the 6,000 privileged it is given to enter the United States, a true deficit against Cameroon which struggled to pick up the balance and balance trade with the United States.