CEMAC : Gabon signs protocol to facilitate regional intergration

The six countries of the Central African Economic and Monetary Community CEMAC agreed on regional intergration as a way of improving upon their economies and living condition of their nationals.

But Gabon and the Equatorial Guinea with relatively better economies were reluctant to sign the Draft Protocal on the free Movement of persons for fear of becoming the trash of economic migrants.

With official statistics that state that approximately 25% of the Gabonese population are immigrants, Libreville also feared becoming home to criminals.

Only recently Gabon agreed to sign the document admits nationals from the five other countries into the country without visa for a period of three months.

This followed the country’s recent decision to open its borders to members of G20 and other Asian countries to attract direct foreign investment.

The signing of the Draft Protocal will not only foster economic development within the CEMAC zone, many believe it will also facilitate innovation and knowledge transfer.

The CEMAC zone was created in 1994. It is composed of Cameroon, Equatorial Guinea, Gabon, Congo, Central Africa Republic and Chad.

The six countries have a common currency, work within a wide range of institutions and have adopted free transfer of capital.

Nyibeche Dero Momoh (Intern)

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