Effa Tambenkongho
19 March 2008
It is a new measure championed by the Consul General to deepen economic relations between Cameroon and Nigeria.
The Consul General of Nigeria in Douala, Gordon Harry Bristol, has initiated a new outfit to the interest of business persons in Cameroon and Nigeria. The outfit, Cameroon- Nigeria Investment Club, is an informal arrangement designed to distribute, circulate and propagate investment information.
According to the Consul General, the political relations between Cameroon and Nigeria have been robust because of the land and maritime boundary which has now been handled too in a robust way. The challenges, he said, which they have now is to take relations in a higher level away from politics but to economic, social and cultural levels.
He acknowledged there is a lot of trading activities between Cameroon and Nigeria though it is informal. He stated that his desire would be for the Cameroon-Nigeria Mixed Commission to look at measures which will revive the Cameroon- Nigeria Joint Commission, which is a platform which can be used to widen and deepen trade between the two countries.
He said African countries do not trade among themselves but rather with the Middle East and Europe, when they can easily trade among themselves. The reason why the initiative of the Cameroon-Nigeria Investment Club designed to sensitise business communities so that they will begin to concentrate on how to hook up and extend economic activities and take opportunities of the activities that exists in each other's economy.
The idea of the Cameroon-Nigeria Investment Club stems from the fact that potential investors and business people in Cameroon could not take opportunities in the Nigerian Capital Market which according to the Consul General is an emerging market, due to certain limitations. After the Nigerian Export Promotion Council mission in Cameroon in November 2007, potential investors in Cameroon expressed the desire to get involved in activities which exist in Nigerian. This, he said, was facilitated by the consulate of Nigeria in Douala. So according to him the investment club will help them share knowledge information on investment between Cameroon and Nigeria and to take advantage of synergies that exist in both Countries. He advised Cameroon business persons to invest in the Nigerian capital market.
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