Visionary Reports

A delegation of business magnets from Ethiopia was in Douala on Thursday November 27 to meet with the business community . This initiative, driven by the Cameroon-Ethiopia Economic Chamber and the Cameroon Chamber of Commerce Industry Mines and Craft ( CCIMA ) was to bolster economic cooperation and unlock new opportunities across various sectors. Despite a history of limited trade, both countries are now focusing on collaboration in vital areas such as transport, construction, and agriculture. With Ethiopia’s vast market potential and Cameroon’s strategic position in Central Africa, economic stakeholders are optimistic that this partnership could generate substantial benefits for both nations.According to the representative of ( CCIMA) and technical adviser to the president Landry Noupchang the visit of the Ethiopian business delegation marks a pivotal moment in the two countries’ long-standing relationship, which has primarily flourished in air transport rather than commercial exchanges. Notably, Cameroon’s imports from Ethiopia stand at CFA 186,000,000 XAF annually, while exports are a mere CFA 9,000,000 XAF, highlighting a critical trade imbalance that needs urgent addressing.

Before coming to Douala the Ethiopian representatives engaged with key governmental authorities and potential business partners, exploring avenues for collaboration that could enhance bilateral trade.Reasons why the head of the Ethiopian delegation Mr. Yonas Tadesse, Strategic Adviser to the President and Director General of OVID Holdings was aware that Cameroon is a strategic center for Central Africa and thus announced plans to establish a trading company for import and export purposes. He said the next step involves exploring and identifying potential strategic partnerships in Cameroon to foster fruitful business relationships. He expressed hope for a mutually beneficial partnership, highlighting areas of interest and mentioning existing companies within their portfolio.Meanwhile the president of the Cameroon-Ethiopia Economic Chamber Abossolo Francis emphasized that the mission between Cameroon and Ethiopia highlights a significant shift in their economic relations. “ This delegation brought together business leaders and governmental authorities aimed at fostering deeper ties and exploring new trade opportunities. Despite a historically low trade exchange Cameroon, the engagement has set the stage for enhanced collaboration.He said after meeting with other businesses community in Yaounde, Kribi and Douala they have been able to secure partnerships with a major Ethiopian holding company, recognized as the largest taxpayer in the country. The mission underscores Ethiopia’s potential as a strategic economic partner, particularly in sectors such as construction, logistics, and agriculture. The visit ended with a B2B meeting with both business communities. The initiative reflects a commitment from both nations to leverage their unique strengths and foster a more balanced and dynamic trading relationship. As they move forward, the hope is that these newly forged connections will lead to sustainable growth and mutual benefits in the years to come.

By Gina Esong