Page 124 - Atouts Economiques Cameroun-2019-GB
P. 124

                 funds has funded about 4000 projects in the areas of health, education, hydraulics and rural tracks.
Since the establishment of diplomatic relations 47 years ago between China and Cameroon, relations of friendship and cooperation between the two countries are developing with sure steps and count many achievements. Therefore, besides the numerous donations in equipment or subsidies and numerous loans without interest or at preferential rates, there are significant Chinese achievements that guarantee the cooperation a significant profile:
n The Conference Centre in Yaoundé.
n The Lagdo Hydroelectric Dam, inaugurated on 29 November 1986 by President Paul Biya.
n The Yaoundé Gynaeco-Obstetrics and Paediatric Hospital, inaugurated on 28 March 2002 by the Head of State, HE Paul Biya.
n The Mvomeka'a Public School, inaugurated in October 2007, and 2 other schools built in Nanga-Eboko and Guider.
n The Yaoundé Sports Complex, inaugurated on June 19, 2009 by President Paul Biya.
n The Gynaeco-Obstetrics and Paediatric Hospital of Douala, inaugurated on 17 November 2015 by the Prime Minister, Head of Government, Philemon Yang.
China is currently Cameroon's biggest trading partner, and Cameroon is the second African lar- gest recipient of Chinese funding. In 2015, for example, the volume of bilateral trade reached 2.6 billion US dollars, just over 1510.15 billion CFA francs. Most of these projects have been negotiated during the six visits to China by President Paul Biya since his accession to the highest office in 1982.
According to the UNCTAD, between 2000 and 2014, Cameroon has captured 2750 billion CFA francs of foreign direct investment (FDI), of which CFAF 1850 billion from China. This repre- sents about 67% of FDI in Cameroon, making China the leading investor in Cameroon (accor- ding to the Cooperation Department of Cameroon's Ministry of Economy). Other FDI came from countries such as France, the United States and Nigeria.
Having obtained all the major infrastructure projects in the country (construction of the deep-water port of Kribi, the Lom Pangar,
Memve'élé and Mekin dams; the optical fibre- optic project; Yaoundé-Douala and Yaoundé- Nsimalen motorways), China is gaining strength in the mining sector in Cameroon, where it has been present for a few years through Sinosteel, which is developing the Mamelles of Kribi iron project in the South Region. The Prime Minister of Cameroon signed, on July 13, 2015, a decree on the “creation, organisation and functioning of an ad hoc Special Commission for the Selection of a Chinese Company to build the Mbalam Project's iron ore terminal railway and the implementation of the Dja mining loop deve- lopment plan”.
Cameroonian imports from China consist mainly of computer, electronic and optical products, tex- tile products and leather.
Longstanding and diversified, cooperation bet- ween Cameroon and the United States moved a step forward on the occasion of the first Africa-USA Summit organized in August 2014 at President Barack Obama’s initiative. The talks to which President Paul Biya took part, enabled to highlight convergence of views bet- ween Yaoundé and Washington on many com- mon interest issues.
Peace and security, two inseparable concepts, are regarded by both countries as essential pre- requisites, the bedrock of any true development and social progress policy. On these crucial issues, Yaoundé and Washington are fully ali- gned. This explains and justifies sustained coope- ration between the two parties in these fields. The major event marking this successful cooperation is the US contribution to the Cameroonian mili- tary training, especially in the areas of the fight against crime, maritime security, and in peace- keeping operations.
Regarding democracy and governance, we should point out that Cameroon has put a lot of effort for many years now, at President Biya’s behest, in constructing the taking root of demo- cracy and consolidation of the rule of law. A pro- cess which needed continual updating of the ins- titutions, mainstreaming of human rights, improve- ment of the electoral system, fierce and relentless fight against corruption and authors of offences against public funds.
In the same chapter, the recent creation and implementation of a new jurisdiction, the Special Criminal Court (TCS) has generated some interest to the US, for this “Clean hands” operation aimed at restoring the cult of respect for the public good with already convincing results.

   122   123   124   125   126