Cameroun country brief : Afcfta, economic diversification and leveraging technology and innovation for development of micro, small and medium-sized enterprises

Abstract

This country brief outlines the strategic initiatives undertaken by Cameroon in the context of the African Continental Free Trade Agreement (AfCFTA) and its efforts towards economic diversification and industrialization. With a population exceeding 27.2 million and abundant natural resources, Cameroon aims to enhance its trade potential, having adopted a national AfCFTA strategy as the first in Central Africa. The Economic Commission for Africa (ECA) has played a pivotal role in this process, providing assessments and training to bolster local production and diversify the economy. Key areas of focus include refining the Industrialization Master Plan, supporting pilot projects in the Kribi-Douala-Edea growth triangle, and establishing a national plan for economic and environmental accounting. Additionally, efforts to improve trade statistics and integrate Cameroon into global databases like GTAP and TiVA are underway, facilitating better policy analysis and monitoring of development goals. Through these initiatives, Cameroon seeks to leverage technology and innovation to foster the growth of Micro, Small, and Medium-sized Enterprises (MSMEs) and achieve sustainable economic development.