“India and Cameroon enjoy cordial and friendly relations. The gradually developing Cameroonian economy seeks to undertake learning lessons from the rapidly growing Indian counterpart. Cameroon looks forward to deepen economic and trade ties with India by partnering with competent Indian companies in the sectors of civil engineering, mechanical engineering, textiles, food, agro products, pharmaceuticals among others”, said Mr. Manga Laurent, Head of the Cooperation Department, Centre National De Promotion Des Exchanges, Cameroon during an interactive meeting organized by MVIRDC World Trade Centre Mumbai and All India Association of Industries.
Elaborating on prospects for corporation with Indian companies, Mr. Laurent said that Cameroon looks forward to dual partnership in the form of technical assistance and financial assistance. The Government of Cameroon intends to develop its infrastructural status in the form of bridges, dams, roads, highways, construction, etc. Cameroon looks up to India to supply the heavy machinery required and train its personnel in its pursuit to develop its infrastructural status. It may be noted here that the infrastructural sector is marked by long gestation periods requiring large amount of capital. Cameroon seeks financial assistance from India as well in its journey towards economic growth.
Further, the podium was thrown open to interactive discussion between the participants. It was suggested that Cameroon seek technical assistance from Indian companies such as Bhel, Tata Motors, L & T and financial assistance from Exim Bank and IDBI.
Earlier, in her welcome remarks Ms. Rupa Naik, Executive Director, All India Association of Industries said that bilateral trade between India and Cameroon stands at US$ 694 million. However, there exists potential for greater cross border trade between the nations. The economies may look up to cooperation in the areas of mining, telecom, fertilizers, oil & gas, agriculture & food processing, forestry, IT, railways.
Further, Ms. Rupa Naik extended a warm invite to the 4th Global Economic Summit on “Asia…. The Gateway to the largest market – Vision 2025” scheduled from 11th-13th September, 2014.
January 21, 2014