Canada prospects in Cameroon

René Cremonese was at the Ministry of the Economy, Planning and Regional Development on January 28, 2015 to explore investment avenues.

The new Canadian High Commissioner to Cameroon, His Excellency René Cremonese has expressed his country’s willingness to step up investments in Cameroon.

Cremonese was at the Ministry of the Economy, Planning and Regional Development, MINEPAT on January 28, 2015, where he met with Minister Emmanuel Nganou Djoumessi. Though new in Cameroon, Cremonese knows that his country and Cameroon have been into business since the establishment of diplomatic ties in 1962 and says more trade investments are in the pipeline.

It is true relations have been excellent, Cremonese says, but he wants to take them a step forward. His decision to knock at the door of MINEPAT was therefore to explore more investment avenues, which to him, will involve infrastructure, mines and education.

“Cameroon has an ambitious plan to become an emergent economy by 2035 and many areas of interests are those of Canadian strength,” the Canadian diplomat said, restating mutual support.

On March 3, 2014, Cameroon and Canada signed an agreement to Promote and Protect Reciprocal Investments and on September 19, 2014, industries from the two nations signed six Memoranda of Understanding to support mining, public works, energy, tourism, transport, metallurgy, professional training and counseling studies. The country is also eying support for Cameroon’s Growth and Employment Strategy Paper and to consolidate micro programmes.