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Business Profile
Economy: Cameroon has enjoyed broad economic success since independence by virtue of consistent agricultural performance and the rapid growth of its oil industry, although low world commodity prices during the 1990s have dampened continued growth. The main agricultural products are cocoa (of which Cameroon is one of the world’s largest producers), coffee, bananas, cotton, palm oil, wood and rubber. There are sizeable but unexploited deposits of iron ore, bauxite, copper, chromium, uranium and other metals. Hydro-electric projects meet almost all the country’s energy needs so that oil and gas are largely treated as export products. Manufacturing industry is concentrated on processing of primary products: most of these are indigenous but imported raw materials (such as Guinean bauxite, which feeds the aluminium industry) play an important role. Wood and timber products, oil and coal, and food and drinks are the main sectors. During the 1990s, the Government opened up much of the economy to competition. France and The Netherlands are the major export markets followed by Germany, the USA and fellow members of the Central African Customs and Economic Union, of which Cameroon is a member. The IMF agreed a structural adjustment programme with Cameroon in 1995; this has been extended beyond the normal three-year term and continues to set the ground rules for the country’s economic policy.
Business: Office hours: Mon-Fri 0730-1700. Government office hours: Mon-Fri 0730-1530.
Commercial Information: The following organisation can offer advice on commercial information and on organising conferences and conventions: Chambre de Commerce, BP 36, Yaoundé (tel: 222 4776; fax: 222 155).
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