Cameroon is USA’s leading economic partner - Ambassador

Cameroon has been described as one of the leading economic partners of the United States of America in Central Africa.

The statement was made by the United States’ Ambassador to Cameroon, His Excellency Hoza, during the 2014 International Exhibition of Small and Medium Size Enterprises in Yaounde.

During the celebration of “American Day” under the theme “American Ingenuity”, H.E Hoza said Cameroon was the 99th largest supplier of imported goods in America in 2013. On the other hand, Cameroon was the 114th largest goods export market in 2013 for the United States.

“US goods/imports from Cameroon totalled 367 million Dollars, that is 19.1 percent increase of 59 million dollars in 2012. While US goods/exports to Cameroon in 2013 were 331 million Dollars with up to 31 percent increase of 78 million Dollars in 2012”, the Ambassador stated.

Following these figures, Hoza pointed out that Cameroon can further boost its exports to the United States as an eligible country for preferential trade benefits under the African Growth and Opportunity Act, AGOA.

“Since 2000, US and AGOA-led exports to Sub-Saharan Africa have increased fourfold from six billion Dollars to 24 billion Dollars. Last year, these exports helped support nearly 120,000 American jobs. Imagine what AGOA could do to the Cameroonian economy if entrepreneurs could exploit all the opportunities that it offers,” Hoza averred.

The United States also has as priority to promote the private sector in Cameroon as the private sector can create jobs, promote economic development and provide citizens with the economic means to sustain their families and communities.

The Ambassador said the business opportunities in Cameroon need imaginative and creative entrepreneurial and sustainable middle-class that participates in the growing of wealth in the nation.

“Cameroon has a youthful, energetic and engaged population. Absorbing young graduates into the work force, into new employment and industrial opportunities, is important for the future of Cameroon, just as it is important for the youth in the United States.”

The Diplomat added that the “American Day” is also meant to stimulate discussions between key stakeholders from public and private sectors to discuss trade opportunities and challenges.

Other sectors, the United States is interested in Cameroon is the energy, education women empowerment among others.

To Hoza, President Barack Obama, had announced during the Africa Leaders Summit in August 2014, that “Power Africa” which is a tripling programme with a goal of increasing African energy creation from 10,000mega watts to 30,000mega watts with the hope of bringing power to 60 million more African households.

“To support this commitment, President Obama pledged a new level of 300 million dollars of assistance per year. Cameroon is now eligible to compete for this development and our Embassy in Yaoundé is currently making the case for Cameroon to join the original six focus countries already benefitting from “Power Africa”, the Ambassador assured.

The bilateral ties between Cameroon and the United States of America were expressed with a visit to the stand of the US Embassy by the United States Ambassador and Cameroon’s Minister of Finance, Alamine Ousmane Mey.