17 December 2012

Nigeria: Cameroon Woos Nigerian Investors

Lagos — The Cameroonian Minister of Trade, Mr Maglorie Antangna, on Monday called on Nigerian investors and businessmen to take advantage of abundant trade opportunities to invest in Cameroon.

Antangna made the call while declaring open the third edition of Cameroon Economic and Trade Summit in Lagos.

He said that the country's trade and investment environment was waiting to be harnessed.

"Dangote Group is currently implementing a major cement plant establishment project in Cameroon.

"We therefore call on other Nigerian investors to emulate Dangote Group by investing in the numerous investments and trade opportunities, which today abound in Cameroon, " he said.

Represented by Amb. Ibrahim Salaheddine, Cameroonian High Commissioner to Nigeria, the minister said that the third edition of the summit was a follow-up to earlier ones held 2009 in Calabar and 2010 in Port-Harcourt.

Antagana said that Nigeria was a reference partner and a model to Cameroon.

"This is why Cameroon is engaged in a series of initiatives targeted at strengthening economic and trade relations with Nigeria, " he said.

The minister said that Nigeria was currently the country's first products supplier with about 23 per cent of her products in Cameroon.

Antagana said that plan was on between both countries' products regulatory agencies to ensure exchange of standard products.

Mr Goodie Ibru, President, Lagos Chamber of Commerce and Industry, said the summit was an avenue of improving trade relations between the two countries.

Ibru, who was represented by Alhaji Aderemi Bello, said the summit would promote trade and investment relations between them in the years ahead.

He urged governments in African countries to promote intra African trade.


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