CMR-Turkey: more than FCFA 86,5b annual trade exchanges

Efforts to balance deficit were revealed during the first contact with business people in Douala.

A Turkish delegation from 14 different companies discussed opportunities to further exchanges between Cameroon and Turkey in Douala on September 9.

About 70 Cameroonian companies were represented at the first contact with business people, whose objective is to encourage Cameroon to increase its export to Turkey while also importing more Turkish products.

Total annual trade between the two countries was evaluated at more than FCFA 86,5 billion. Cameroon’s export to Turkey is slightly above FCFA 25,4 billion while Turkish export to Cameroon stands at more than FCFA 61 billion.

Cameroon’s products exported to Turkey include timbre, cocoa, coffee, and cotton. Turkey exports mostly finished products to Cameroon, mainly cement, construction materials, machines and other equipment.

The Turkish Ambassador to Cameroon exhorted the Cameroonian business community to boost export to Turkey in order to balance the deficit.

The Vice President of the Turkish Electro Technology, Emin Armagan Sakar, said their products have a competitive pricing and quality. He said they are looking for partners, want to develop contacts and invest in the Cameroon.

Christophe Eken, President of the Cameroon Chamber of Commerce, propose the intensification of trade with more exports towards Turkey from Cameroon business community, the transfer of technology and more importation to Cameroon of Turkish finished products and the setting up of a factory in Cameroon for the assembling of Turkish products in Cameroon for the Central African sub-regional market.

The sub-region, he said, has a market of about 300 million customers which is a very vital component of any investment.

In order to balance the deficit, both countries will be organising a trade forum in Istanbul, Turkey, dubbed “Cameroon Days” with the participation of Cameroon business people. Also, a Turkish exhibition to take place in Yaounde will be held on September 24 to 27.

Kuimo Hilary, Managing Director of Ebeck Group, said we want to learn from the Turkish experience, create contacts with manufacturers of electronics and electricity products. “We want to gain competitive advantage in terms of efficiency like cost and quality and getting to know more about the diversity of Turkish economy,” he said.

Investors from both countries discussed trade financing, sales policies, and sought to know more about specific companies and how Turkish business people deal with business men outside of Turkey.

Gokhan Uskudar, Commercial Counsellor at the Turkish Embassy in Yaounde, said they are organising fairs to meet with business people. Some will export, others will invest in local productions.