Page 121 - Atouts Economiques Cameroun-2019-GB
P. 121

                 Its guarantee covers political risks, including civil wars and nationalization of companies. It may help shed light on potential investments and part- nerships existing in Cameroon.
Historically, Cameroon is linked to European countries; it has always had significant and diver- sified relations with the European Economic Community (EEC), which later became the European Union (EU). These relations are ancient and varied, one should point out that it is in Yaoundé that were sealed the first ACP States associations agreements with the EEC (Yaoundé 1: 1963/69). It's still in the Cameroonian capi- tal that were signed the agreements of Yaoundé II (1969/1975), which brought a significant assistance in a multitude of areas to ACP States and particularly to Cameroon.
The following agreements (Lomé I to Lomé V) expanded and amplified the EEC’s interventions. Regarding Cameroon, its products and those of other ACP countries have free access to the European market. For products (such as bana- nas), this is limited to specific quotas. The European Union is by far the largest trading part- ner of Cameroon. European cooperation, in addition to bilateral cooperation with the mem- bers of the Union, also plays an important role in relations of this type that Yaoundé has with foreign countries.
To list only the main areas of the cooperation, it has to do with communication infrastructures, social facilities (health, education), industrializa- tion (through the European Investment Bank and
Cooperation with the European Union is long-lasting and varied
CDI), support to privatization actions, restructu- ring of the coffee and cocoa sectors, develop- ment of the countryside (local development pro- grammes and stabex transfers).
STABEX transfers have become, in recent years, an important cooperation instrument. They helped to offset revenue losses on exports of coffee, cocoa and bananas, affected by price fluctuations on the world markets. Cooperation with the European Union has also spread to the structural adjustment policy, especially since their interventions are coor- dinated with the IMF and the World Bank.
Taking into account the demands of fight against poverty reflected in the Growth and Employment Strategy Paper (GESP) in accordance with the recommendations of European Consensus on Development, Cameroon chose to primarily allocate resources from envelope A of the 11th EDF (2014- 2020), an indicative amount of 185 billion CFA francs, to two areas of concentration which are:
n Governance (respect for human rights, promotion of democracy, inclusive growth);
n Rural development
The two areas have as leitmotiv; making life bet- ter for Cameroonians. But the bulk of the budget, 63% of the total will go the second aspect, namely the rural world. What is targeted in this area is to take part in harmonizing the develop- ment of the territory and its sustainability. Economic growth will also be a point at issue; which means prosaically that the EU will have to act in a manner that can enable the rank and file

   119   120   121   122   123