Within the framework of the National Development Strategy (NDS30) that runs from 2020 to 2030, the government intends to boost agriculture by signing partnerships with the local and/or foreign private sector, train “national champions” who will produce, process, and market the agriculture sector to subregions especially.
Nigeria ranked first among the African countries that exported products to Cameroon during 2015-2017. The main products that Nigeria exported to Cameroon were Fuels; Raw materials; Consumer goods; Food Products; Intermediate
The measures taken by Cameroonian authorities will reduce the impact of external shocks on the exchange rate and equally cushion the shock from sudden changes in the price of commodities or the value of the U.S. dollar.
Trade liberalization is an essential prerequisite for economic development, and the African Continental Free Trade Area will not only boost intra-African trade, but it will also equally create the foundations for sustainable economic development, regional integration, and a faster pace of industrialization (Ndung’u and Signé 2020).
This policy brief examines the nature of Cameroon and Nigeria's trade whilst illustrating the benefits of free trade on living standards, employment, and income inequality. It recommends that Cameroon and Nigeria cooperate on trade facilitation measures to increase the benefits of the African Continental Free Trade Area.