A two-day reflection conference on the priorities of the Central African Sub-region (CEMAC) within a globalised world where only stronger economic blocs have the propensity to survive opens in Yaounde this Thursday February 27 on the theme, “Reinforcing regional integration to accelerate growth: What priority for CEMAC?”
Briefing the press on Tuesday February 25 on the stakes and challenges of the conference, Cameroon’s Paul Tasong, Commissioner at the CEMAC Commission, said the objective is to present results of a study on prospective gains on veritable regional integration as well as discuss the main recommendations in view of its dissemination within member countries.
The studies carried out by the Foundation for Research and Studies on International Development (FERDI) with which the CEMAC Commission is organising the Yaounde conference, Mr. Tasong said, shows that were the sub-region to be fully integrated with all the components in place, economic growth could improve by two or three points in the short term.
He said CEMAC represents one of the smallest economic blocs in the world and to face growing global competition, it would be better to fortify itself by reinforcing sub-regional integration and possibly seek ways of extending it may be to other blocs. But for this, solid infrastructure and other communication means must be put in place.
Reason why the Yaounde conference will centre reflection on how to deepen a common market and improve regional infrastructure, reinforcing commercial integration and harmonizing fiscal policy, reinforcing multilateral surveillance as well as monetary and financial integration.
“We cannot whip countries to adhere but we are ready to go with or without reticent ones. We are already envisaging a common visa for the sub-region. It is difficult given that members are sovereign States but we are struggling to see how we can harmonise them in the interest of the sub-region,” he said.
