Diversification of the economies of the sub region, structural reforms of CEMAC member countries’institutions, regional integration, and more, are some of the major perspectives the Central African Sub Region hope to effectively implement by 2020.
After 2 years of continuous recession by member countries of the CEMAC Zone, the heads of states of the region unanimously agreed that the 2019-2020 perspective are overall favorable because of the measures taken to implement regional intervention, mobilize finances for the 12 Integrating projects, organize meetings of experts of ministers of trade or commerce. All this to promote products produce by member countries.
In order to effectively carry out these measures, issues like building common checkpoints in the region to allow the free movement of goods and persons, ensure security in the sub region, finalize the process of regional passport in the sub region before December 6, 2019 are all premodial for the growth and development of the sub region.
It is often said, Africa is the richest continent in resources, yet the poorest in terms of their economies. It is for that reason that heads of states of the CEMAC region created, the Economic and Financial Reform Program called PREF-CEMAC in French, with the aim to mobilize the resources in the sub region, and consume what they produce.
This, the Permanent Secretary of PREF-CEMAC, Professor Michel Cyr DJIENA WEMBOU said, will avoid the over 500 billion CFA FRS, spent yearly for the importation of foreign households and foodstuff goods instead of consuming locally.
In order to secure and protect these goods from the sub region, a National Committee of Origin, charged with protecting products of the CEMAC member states, has to be put in place to meet international standards. The system exist in other sub regions and continents respectively, such as, West Africa, Europe, America and many other international communities. CEMAC member countries therefore, have the arduous task of making sure that CEMAC products meet the required standards and eventually carry the CEMAC Logo when the Logo is ready for use.