Yaoundé, Cameroon—

The Economic and Monetary Community of Central Africa (CEMAC) marks its 30th anniversary this week, but in some ways there is little cause for celebration. The group said members conduct most of their trade with outside countries and have made few attempts to break down economic barriers between themselves, making CCCA the least developed and poorest economic bloc in Africa.

Officials say that the Central African Economic and Monetary Community, despite its very strong economic and social potential, remains the least integrated economic bloc in Africa.

CEMAC officials said that more than 80% of member states’ foreign trade is with Europe, China and Russia, while foreign trade between member states only accounts for 4%.

The CEMAC countries – Cameroon, Chad, Equatorial Guinea, the Republic of Congo, Gabon and the Central African Republic – created the grouping in 1994 to facilitate the free movement of goods and people across borders and promote regional integration.

Sylvestre Michel Nkou is an economic adviser to the Congolese government and the Economic and Monetary Community of Central Africa (CEMAC). He was speaking at a celebration of the economic group’s 30th anniversary in Yaoundé on Thursday.

Nku said Central African Monetary Community members should emulate the Economic Community of West African States, in which civilians and traders move from one country to another without fear of police harassment, brutality or confiscation of goods. He said when integration becomes a reality rather than a political slogan, poverty in Central Africa will be reduced and the economic bloc will no longer be the poorest country on the continent.

Ncu said the Central African Monetary Community countries still mistakenly believe that each country can develop independently. He said that CEMAC has a population of nearly 70 million, forming a huge market that has not been fully utilized.

Insecurity, the Boko Haram conflict affecting Chad and Cameroon, political tensions and armed attacks in the Central African Republic, and the transfer of military junta in Chad and Gabon, said Achingale Anifote, an international relations scholar at the Cameroon Institute of International Relations. The leaders of the Economic and Monetary Community of China and Africa have focused their attention on the economy. develop.

“If you look at the ranking of ‘ease of doing business’ countries in the world, the CEMAC region lags far behind,” said saod Achingale. “Out of 197 countries, Cameroon is the first [among CEMAC states], ranked 167th, so there’s still a lot to do. We must develop plans to address the key causes of conflict, and we must focus on security and ensuring a stable environment, which is critical to economic development. We need to promote peace, which is one of the goals of the Monetary Community of Central Africa. “

Archingale said that the World Bank’s Ease of Doing Business report quantitatively measures the ease of doing business in countries around the world, focusing on business regulations and property rights protection.

Thierry Ndong, a regional integration expert and CEMAC analyst, said the regional economic bloc has also failed to create regional airlines, build roads connecting the capitals of CEMAC member states and establish Regional stock exchange.

Ndong said failed projects launched by CEMAC officials included plans to develop economic zones in border towns such as Keosi in Cameroon, Bitam in Gabon and Ebebiyin in Equatorial Guinea. He said he was surprised that CEMAC reserved funds to organize workshops to evaluate non-existent projects launched 15 years ago as a symbol of economic integration, without consulting the main beneficiaries.

Central African Republic President Faustin-Archange Touadera, who is also CEMAC president, is expected to address concerns about the economic bloc’s underdevelopment in a speech on March 16.