Cameroon, an Ideal Investment Destination
From the 1st to the 4th of October 2023, Cameroon welcomed a large Turkish business delegation made up of company directors and businessmen arriving with the aim of finding reliable Cameroonian partners and exploring investment opportunities within the national territory.
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During the B2B meetings that made up the highlight of the event, they were able to exchange in-depth ideas and weave together possible business and trade solutions with some of their Cameroonian counterparts.
Presided over by the Cameroonian Minister of Trade - H.E. Luc Magloire MBARGA ATANGANA, the opening ceremony was organized by TIM (Türkiye Exporters Assembly) and IMMIB (Istanbul Minerals and Metals Exporters’ Association) and featured a number of high personalities, including the Turkish Ambassador to Cameroon, The Deputy General Secretary of IMMIB, the Chairman of DEIK TCBC (Türkiye Cameroon Business Council), The Governor of Littoral, and The City Mayor of Douala.
With the aim of harmonizing efforts and developing strategies to increase and strengthen trade relations between Cameroon and Türkiye, The DEIK Chairman of the Türkiye Cameroon Business Council decided to extend his stay in Cameroon for in-depth business meetings and a brief study of the business environment Cameroon creates. A program was therefore setup for the Chairman to meet CTBC Members and Turkish Businesses operating in Cameroon.
During the business breakfast which naturally ensued, the President of DEIK Türkiye Cameroon Business Council, Mr. Ahmet DEMİRTAŞ, chatted at length with each of the entrepreneurs and businessmen who are members of the CTBC. Each presented his or her project, company, business ambitions and the difficulties they face. After listening to everyone, Mr. Ahmet promised to find solutions to support each member in his or her field of activity. He also proposed setting up a discussion platform between Turkish and Cameroonian entrepreneurs, with the aim of facilitating exchanges.
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This was followed by visits to Turkish and Cameroonian companies in Douala and Kribi where a total of 9 companies were visited in Douala and three in Kribi. Visits to these companies revealed that CTBC member companies benefit from unfailing support from the Cameroonian Government on the one hand, and from CTBC Chairman Senator Nfon Ekoko MUKETE on the other. Their businesses are pretty much flourishing and they have major partners such as the Investment Promotion Agency (IPA). They also benefit from certain advantages in the form of customs duty reductions or exemptions, tax and legal advice and procedures, good rates from local and international banks, etc.
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Satisfied with the business environment in Cameroon, Mr. Ahmet visited several pieces of land with a view to setting up Turkish companies, notably in the Douala and Kribi port areas, where he saw many opportunities to not only increase the volume of business between Türkiye and Cameroon, but also to work with Cameroon to develop certain sectors such as manufacturing and processing of agricultural products.
"Cameroon is an ideal investment destination. Its business climate is peaceful and full of opportunities", were the words of Mr. Ahmet at the end of his visits as he highlighted his intentions of exploring the possibility of bringing in a large number of investors from Turkey to support Cameroonian companies in the very near future.
LTR: President of DEIK Türkiye Cameroon Business Council, Mr. Ahmet DEMİRTAŞ, Senator Ekoko Mukete - President Cameroon Türkiye Business Council & Honorary Consul of the Republic of Türkiye in Douala, Dr. Ibrahim Azboy - Orthopedic Surgeon, Dr. Abdallah Demırtaş - Orthopedic Surgeon, Turkish Business Man
To this end, he met with the CTBC President Nfon MUKETE at Istanbul airport on Monday October 23, 2023 to discuss at length about the business climate in our two countries, and work out innovative strategies for the future.