Cameroon Launches First Export Under AfCFTA Regime

On July 5, Cameroon marked a significant milestone with the launch of its first export under the African Continental Free Trade Area (AfCFTA) regime. Commerce Minister Luc Magloire Mbarga Atangana, representing the Prime Minister, officiated the ceremony at the Douala port. The event saw the departure of 100 tonnes of aluminium ingots from ALUCAM to the Algerian company SARL ALFILECT.

This event follows the July 17, 2023, reception of goods from Tunisia in Kribi, demonstrating the reciprocal nature of trade under AfCFTA. Minister Mbarga Atangana highlighted the symbolic exchange, emphasizing the mutual benefits for African states. He described the AfCFTA as a “great opportunity” for development, echoing the long-standing call for African countries to produce and consume locally.

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The Minister praised key players, including the Director-General of the National Shippers’ Council of Cameroon, for their roles in this initiative. He urged the business community to fully leverage the growing African market, which boasts 1.3 billion consumers, to compete globally. However, he cautioned that without robust local entrepreneurial engagement, AfCFTA might benefit foreign multinationals more than African economies.

This export marks a pivotal moment for Cameroon and showcases the potential of AfCFTA to transform intra-African trade. By reducing trade barriers and fostering economic cooperation, the agreement aims to boost economic growth across the continent.

As Cameroon continues to embrace AfCFTA, the success of this initial export sets a precedent for future trade activities. It underscores the importance of strategic collaboration and the need for local businesses to seize the opportunities presented by this vast and unified market.

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