Trade between Cameroon and Cote d’Ivoire climbed 500% in 3 years

According to Charles Koffi Diby, Ivorian Minister of State for Foreign Affairs, trade between Cameroon and Cote d’Ivoire increased considerably in 2013, reaching 53 billion FCfa compared to 33 billion FCfa in only 2012.

This represents an increase of 20 billion in absolute value. The Ivorian cabinet member revealed these figures in Abidjan on March 7, 2014, during the Ivoiran/Cameroonian mixed commission which had resumed after 33 years of lethargy.

During this meeting between the two countries, 10 bilateral agreements were signed to boost economic cooperation between Cameroon and Cote d’Ivoire which has been growing steadily for the last three years. Indeed, according to official statistics, between 2011, the year when trade between the two countries reached 10 billion FCfa, and 2013, this indicator grew by over 500% – in just three years.

This dynamism apparent in the economic cooperation between the two countries is definitely derived from initiatives taken for a few years now by both parties in an effort to strengthen their economic ties. It was to this end that Cote d’Ivoire held the second “Ivorian week in Cameroon” in October 2013 which featured 50 participants from Cote d’Ivoire.

In February, Groupement interpatronal du Cameroun (GICAM), had asked the Ivorian government to put aside 24 acres for Cameroonian businesses. This occurred during the “Invest in Cote d’Ivoire” forum during which Ivorian and Cameroonian business heads decided to promote the creation of joint ventures in order to conquer the markets of West and Central Africa together.