The ninth summit of the Economic and Monetary Community of Central Africa (CEMAC) took place June 24 to 25 in Yaoundé, Cameroon. The focus of the gathering was to address the socio-economic and security issues currently facing the sub-region. CEMAC, whose members include Cameroon, Chad, Central African Republic, Republic of Congo, Equatorial Guinea and Gabon, officially launched in June 1999. The group has since focused its activities on:
• Fostering, harmonious development and effective trade among member states; • The creation of a genuine sub-regional common market; and • Ensuring free movement of people and goods within the sub-region.
Security and political stability also have become key areas of concern for members.
CEMAC leaders during the opening ceremony
“I appreciated the sense of awareness and solidarity that is growing within the sub region and theimportance of collective measures to tackle security concerns faced by CEMAC member States,” said Paul Biya, president of Cameroon, following the summit. “The road covered by CEMAC in achieving their common objectives was impressive, even though much still remains.”
The ninth CEMAC summit takes place at a time when member states are being confronted by a number of socio-economic challenges ranging from the ever-rising costs of basic commodities to disease and poverty. Coupled with corruption, assaults, kidnappings and murders stemming from greed, these issues have caused CEMAC delegates to focus on institutional reforms in order to make CEMAC more efficient and effective.
Other regional issues tackled by the delegates during the two-day summit, included agriculture, regional integration and the sub-region’s collective economy.
Citizens from Equatorial Guinea appealed for increased integration among CEMAC countries
“CEMAC countries must create an enabling climate for investments in order to grow above the current eight percent economic growth rate,” said Donald Kaberuka, president of the Africa Development Bank.
On current high food prices, Kaberuka pledged aid to CEMAC countries to fight the crisis.
“We are going to put $4.8 billion into agriculture for the next three years in CEMAC countries… in each case, we have to work to increase productivity per hectare through the provision of fertilizer, seeds and water,” he said.
The CEMAC summit closed June 25 with a final declaration that focused on:
• The institution of a “CEMAC Day” every year on March 16; • The reinforcement of security of people all over the region; • The implementation of a free movement of citizens and goods principle within the region; • More concerted efforts to mitigate the consequences of high food and oil price impacts on sub-regional economies.
Contributed by Henri Laurent Bateg, World Bank, Cameroon
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