The country’s Vice Minister of Economic Development and his delegation began a two-day working session in Cameroon yesterday.
The Vice Minister of Economic Development of the Republic of Italy, Adolfo Urso, is in Cameroon alongside a group of the country’s economic experts on an economic prospection mission to scan economic potentials here with the hope of partnering with Cameroon in investing in development-oriented sectors. The two-day working and information-sharing visit which began yesterday is grouping over 40 business people from Italy who are in Cameroon to discuss with their Cameroonian counterparts as well as know what the administration is doing in their respective areas of interest. The visit is in line with Italy/Africa economic relations which seeks to reinforce economic ties between Italy and countries of Sub-Saharan Africa which materialised on June 25 and 26, 2009 with the holding in Rome of a forum on the theme, “Italy and Africa: Partners in Business”.Speaking in Yaounde yesterday during the working session with Cameroonian officials, Mr Adolfo Urso said within the programme, Cameroon is a strategic partner and, “through this mission, we are planning to move from commercial to industrial partnership with Cameroon”. As such, important agreements, he added, would be signed this Tuesday on bio energy, transforming iron into steel and a corporation into the wood sector. Heads of Italian enterprises who took to the rostrum lauded Cameroon/Italy partnership as one that will accelerate development in both countries.
Italy is reportedly excelling in the domains of advanced technology, infrastructure, agro industry (produce, process and conserve agricultural products) and electronics. Reason why Cameroon’s Minister of the Economy, Planning and Regional Development, Louis Paul Motaze, described the visit as timely, especially as it is coming at a time the country has launched its 10-yuear development plan contained in the Growth and Employment Strategic Paper. Italy currently imports from Cameroon, petrol, wood, coffee, cotton and rubber, among others and Mr Motaze wished that if enormous potentials that Cameroon possesses in the domains of agriculture, hydroelectricity, mining and others could be better exploited and valorised, it would greatly speed up its development. He stressed that besides these rich natural potentials, the peace and stability in the country as well as the country’s favourable investment charter are virtues that cannot leave any investor indifferent.
Since yesterday, the Italian delegation has been holding working sessions with stakeholders in sectors like agriculture, infrastructure as well as with government officials concerned with their domains of interests and an information and knowledge-sharing business forum with Cameroon business people. The visit ends today.
