- Published on Saturday, 11 August 2012 18:30
- Written by Admin
Neighboring country and the largest market in Africa with a population of nearly 170 million people, Nigeria has become the leading provider of Cameroon, beautiful place long occupied by France, reveals a study by the World Bank confirmed Cameroonian official data.
"According to published data, Nigeria became the main supplier of Cameroon, who made this country with almost a quarter of its total imports in 2011 (before France, from 13% of Cameroon's imports), "says in its latest issue the" Cahiers Cameroon's economic ", periodical of the World Bank.
The volume of these imports is estimated at 58% of total imports in Cameroon in 2011. Among the imported products are manufactured goods and petroleum products. However, the Cameroonian exports to Nigeria totaled 8% of the total volume of foreign trade.
Nigeria and Cameroon share a land border of nearly 2,000 kilometers. Largest economy in Central Africa (40% of GDP), the second, driven by the resolution of border dispute on the Bakassi Peninsula (Southwest) surrendered in 2008 after fifteen years of occupation Nigerian untends economic opportunities offered by the West African giant.
For the Cameroonian authorities, it is not just about being a receptacle of Nigerian exports but also and more a market for about 170 million Nigerians. For example, it is by Calabar (South Eastern Nigeria) and the Cameroon Ministry of Commerce opened in 2009 the concept of Economic and Business Days after extended to other foreign countries like the United States.
So far, it is the Economic and Monetary Community of Central Africa (also composed of Congo, Gabon, Equatorial Guinea, Central African Republic and Chad), which represents 60% to the main market of export of Cameroon, mainly with the export of petroleum products into Chad, according to World Bank