Africa: Russia-Africa Summit – Cameroon Makes Gains

The first-ever Summit and Economic Forum took place at the Russian city of Sochi from October 23-24, 2019.

The first-ever Russia-Africa Summit and Economic Forum are now history but Cameroonians will forever remember it for the economic and trade gains which they expect to materialise. The Cameroonian delegation to the summit was led by the Minister of External Relations, Lejeune Mbella Mbella who was mainly accompanied by other cabinet ministers of the economy domain, Chamber of Commerce and economic operators. Concerning the summit proper, media reports say the Cameroonian delegation secured important trade deals. The country’s officials reportedly took part in the Economic Forum and also had discussions along the sidelines of the event with different partners. One of the major gains from the event was the discussions the Minister of Water Resources and Energy, Gaston Eloundou Essomba had with officials of the Russian hydrocarbons giant, Lukoil. The officials promised to send experts to Cameroon who would work with Cameroonian experts to rehabilitate and modernize the production unit of Cameroon’s National Oil Refinery Company (SONARA). The oil refinery was affected by a fire incident on May 31, 2019. Talking to the press, Minister Eloundou Essomba is cited as saying that their discussions were fruitful as Lukoil officials promised to deploy an important delegation to Cameroon in the coming days. Their discussions also reportedly centred on supplies of hydrocarbons at competitive prices. Cameroon’s Minister of Trade, Luc Magloire Mbarga Atangana was accompanied to the forum by the President of the Chamber of Commerce. Reports say they discussed many partnerships with the Russian Chamber of Commerce. They were also discussions on the exportation of Cameroonian cocoa to Russia and the imminent visit of Russian investors specialised in mineral exploitation. The Minister of Economy, Planning and Regional Development, Alamine Ousmane Mey reportedly did not only take part in session on the development of housing market but is said to have made a declaration therein. This is understood considering the low cost housing programme the Cameroonian government has embarked upon.

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