Cameroon Trade

Subchapters:

  • Business Relationships
  • Foreign direct investment
  • FTAs ​​and Treaties
  • Development Cooperation
  • Prospective fields of study (MOP)

Business relations

Trade relations with the EU

The EU is one of the most important donors of foreign development aid and an important business partner of Cameroon. In January 2009, Cameroon signed an Interim EPA (IEPA) with the European Commission as the only country in the Central African region. In 2010, Cameroon signed an agreement with the EU on the labeling and monitoring of exported timber.

  • Allcountrylist: Overview of major industries in Cameroon, including mining, construction, transportation, tourism, and foreign trade.

In 2020, EU countries imported €1550 million worth of goods from Cameroon and exported €1445 million worth of goods. In 2021, we see an increase in both exports and imports – EU countries imported €1771 million worth of goods from Cameroon and exported €1602 million worth of goods.

2017 2018 2019 2020 2021
Exports from the EU (million EUR) 1,418.10 1,519.00 1,379.80 1,445.70 1,602.30
Imports into the EU (million EUR) 1,869.30 1,746.10 2 108.10 1,550.90 1,771.60
Balance with the EU (million EUR) 451.2 227.1 728.2 105.1 169.3

Source: European Commission

Trade relations with the Czech Republic

Cameroon is one of the few African countries with which the Czech Republic has a long-term negative balance. It is conditioned by the import of bananas and other tropical fruits.

The main export items were gas turbines, mechanical looms, axles, liquid meters and worn clothing. The imports were traditionally dominated by bananas, coffee, technically specified natural rubber and tropical wood. A significant success in 2020 was (through the Czech-Cameroon Chamber of Commerce) the establishment of close business cooperation between the Cameroon state company for the storage of petroleum products (Société Camerounaise de Dépôts Pétroliers) and the Ostrava company VAE Controls Group regarding the supply of fuel measuring equipment and the construction of storage tanks in port in Douala in the amount of several million euros.

2017 2018 2019 2020 2021
Exports from the Czech Republic (billion CZK) 0.4 0.1 0.1 0.1 0.1
Imports to the Czech Republic (billion CZK) 0.2 0.4 0.6 0.6 0.6
Balance with the Czech Republic (billion CZK) -0.1 0.3 0.5 0.4 -0.5

Source: CZSO

Trade relations with countries outside the EU

Cameroon’s main import partners are China and France, each with 17 percent of imports. Other non-European countries include: Nigeria and the United States of America.

Cameroon’s main import commodities are cereals, fish and capital equipment.

2017 2018 2019 2020 2021
Exports from countries outside the EU (million EUR) 1,336.8 1,713.6 2,098.8 1,217.4 2,296.7
Imports to countries outside the EU (million EUR) 2,236.3 3 113.6 3,214.9 3,506.0 3,588.7
Balance with non-EU countries (million EUR) -899.5 -1,400.1 -1 116.1 -2,288.7 -1,292.0

Source: EIU, Eurostat

Foreign direct investment

According to the UNCTAD World Investment Report 2021, foreign direct investment inflows to Cameroon, traditionally low compared to the potential of its economy, reached US$488 million in 2020, a sharp decline from US$1027 million recorded in 2019 due to the global health and economic crisis. caused by the Covid-19 pandemic. Investments are mainly made in agriculture and transport and oil infrastructure.

There are no FDI from the Czech Republic.

FTAs and treaties

Treaties with the EU

Post-Cotonou Partnership Agreement – ​​signed in April 2021 as a continuation of the agreement between the EU and African countries. It regulates, among other things, economic relations and development issues.

Economic Partnership Agreements (EPAs): The EU is one of the most important donors of foreign development aid and an important business partner of Cameroon. In January 2009, Cameroon signed an Interim EPA (IEPA) with the European Commission as the only country in the Central African region. In January 2009, Cameroon signed an Interim EPA (IEPA) with the European Commission as the only country in the Central African region. At the same time, negotiations on the signing of this agreement are underway at the regional level.

In 2010, Cameroon signed an agreement with the EU on the labeling and monitoring of exported timber.

Contracts with the Czech Republic

– Agreement on economic and technical cooperation between the Czechoslovak Republic and the Federal Republic of Cameroon (Paris on 13 June 1963) (not published in the collection of laws)

– Agreement on cultural cooperation between the Czechoslovak Republic and the Federal Republic of Cameroon (Paris on 20 April 1964). (No. 168/1964 Coll.)

Since the entry of the Czech Republic into the EU, relations have been regulated by the common policy of the EU – the validity of the trade agreement between the government of the Czechoslovak Republic and the government of the United Republic of Cameroon, signed in Yaoundé on June 25, 1981, was terminated on the day of the entry of the Czech Republic into the EU.

There are currently no valid agreements in the economic field between the Czech Republic and Cameroon.

On May 2, 2022, the Agreement on the Prevention of Double Taxation will be signed in Prague at the level of the finance ministers of the Czech Republic and Cameroon.

Developmental cooperation

The EU is one of the most important donors of foreign development aid.

The Czech Republic has not provided any foreign aid to Cameroon in the last two years. Only small local projects are implemented.

Prospective fields of study (MOP)

The most promising items for export and investment include especially those products/areas that comply with the “Stratégie pour la croissance et l’emploi” and “Vision Cameroun 2035” strategies. Currently, these mainly include food commodities and technological equipment for the food industry (equipment for bakeries, mills, fruit and vegetable processing lines, beverage production, microbreweries, fish processing technology, freezing plants, etc. ¼). There could also be considerable interest in tractors and other agricultural machinery for private farmers, supplies of fertilizers and chemicals against pests.

The most promising sectors are still the oil and mining sector and the sector of processed wood. The development of mining of iron ore, bauxite, manganese, etc. is expected. The use of these reserves will require the supply of mining technologies and means of transport (including used ones).

Cameroon invests in the development of infrastructure – construction machines, airport equipment, residential buildings, hospitals, equipment for hydroelectric power plants, small hydroelectric power plants, but also renewable sources of electricity (solar¼), which can be connected off-grid, are perspective from this point of view. Cameroon has large reserves of usable timber.

Cameroon Trade