Introduction to india
India is a republic consisting of 28 states and seven union territories with a parliamentary system of democracy. It has the world's twelfth largest economy at market exchange rates and the fourth largest in purchasing power. It is one of the fastest growing economies.
Capital: New Delhi
Independence: from France: 1 January 1960
Climate: varies from tropical monsoon in south to temperate in north
Religions: Hindu 81.3%, Muslim 12%, Christian 2.3%, Sikh 1.9%, other groups including Buddhist, Jain, Parsi 2.5%
Government: federal republic
GDP: 8.81pc( projected)
Per capita income: 38084
Languages in India
The different states of India have different official languages, some of them not recognized by the central government. Some states have more then one official language. Bihar in east India has three official languages - Hindi, Urdu and Bengali - which are all recognized by the central government.
INTRODUCTION TO CAMEROON
The Republic of Cameroon is located just north of the Equator, alongside the Bight of Biafra, (Coastline: 402 km) in Western Africa, between Equatorial Guinea and Nigeria.
Total area: 475,440 sq.km (land: 469,440 sq. km water: 6,000 sq. km)
The bordering countries are: Central African Republic (over 797 km), Chad (over 1,094 km); Republic of the Congo (over 523 km); Equatorial Guinea (over 189 km); Gabon (over 298 km); Nigeria (over 1,690 km)
Population: 21,746,179 (census 2008); 16,705,000 (July 2005 est.).
Independence: from France: 1 January 1960 (United Nations' trusteeship under French administration)
Natural resources: petroleum, bauxite, iron ore, timber, hydropower
Agricultural productions: coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber
Industrial productions: petroleum production and refining, food processing, light consumer goods, textiles, lumber Industrial production growth rate: 2.5%
STRENGTH of Cameroon economy:
- The Cameroonian Economic outlook has been on an upward trend since 2007. Despite the decline in the Oil production industry and the recent financial crisis, the country has continued to show GDP growth rates of 3.6% and 4.8% in 2007 and 2008 respectively and a forecast of 4.6% in 2009.
- In February 2008, the government took strong measures to reduce import tax on consumer goods which in turn reduced the pricing of food sold in the Cameroonian markets, a move backed by the EU and initiated in 2007 to liberalise trade. Accessibility to basic utilities and services like water, electricity, sanitation, education is improving as cooperates like CAMWATER Cameroon Water and AES Sonel Société National d'Électricité take measures to improve capacity and efficiency.
- The most dynamic sectors of the Cameroonian economy are Forestry, Telecommunications, Construction and Agriculture.
- Trading activities in Africa as a whole have witnessed surging volumes with import volumes rising more than 250% and export volumes growing in excess of 260% since 2000. Agriculture and Forestry account for 20.4% GDP in Cameroon but the sector still sees a growth rate of import volumes higher than exports until recently.
- The absolution of custom duties on some food commodities like rice, wheat and oil, a 15% increase in Civil servant salaries was announced and a 20% increase in housing allowances that will lead to greater spending capacities for Cameroonians and a more robust economy.
BUSINESS OPPORTUNITIES IN CAMEROON:
Agriculture and Forestry: Log production was up 13%, 5% and 7% in 2006, 2007and 2008 respectively. It is forecast to improve with the opening of 14 new forestry management units in 2007 to prioritise on management, product upgrading and local processing of timber. The food production industry is hampered mainly by a lack of financing and weather conditions limiting growth to about 4% last year. The sector is expected to benefit from better cross border infrastructure to ease trading with neighbouring countries particularly in rubber, cocoa, coffee and bananas. Opportunities in this sector are in production/conversion of primary commodities and trade financing.
Commerce and Trade: Cameroon imports the greater part of the commodities it markets whereas the country is rich in natural resources and can support vast variety of agricultural products. There is a real shortage in conversion processes from primary goods to secondary goods and the country exports most of its cocoa, coffee and rubber produce and imports their related finished products. Trade corridors between the continent and Asia are very lucrative with the country benefiting from accessibility as it situated right on the West coast of Africa and better road infrastructure within the country and cross boarder to neighbouring countries.
The customer base for the telecommunications industry is growing fast with a greater than 30% customer base in 2007. Laying of fiber-optic cables is still underway.
Opportunities in this sector are in trade financing and production/conversion processes of the operating cycle.
Transportation (land, sea, air): The country is in the process of revamping roads into and in the economic capital Douala, these works have already begun to improve circulation and accessibility of goods in and out of the commercial area. The city is connected to all major towns in Cameroon, has rail links to Kumba, Nkongsamba, Yaoundé and Ngaoundere and is served by an international airport. Cameroon has three major ports for exports and imports with storage facilities, 58,000m sq or warehousing and 380,000m sq of open storage and 8,000m sq cold storage on site. Plans to build a fourth deep sea port in Kribi are underway. The political capital Yaoundé and the North region of Garoua are also served by international Airports.
Opportunities in this sector are in transportation, tracking, storage and exportation to other central African countries.
Industrial manufacturing: One of the major industrial centers of Central Africa, Cameroon houses breweries, textile factories, palm oil, soap and food-processing plants. It also produces building materials, metalwork, plastics, glass, paper, bicycles and timber products. The country also is home to a refinery SONARA which refines imported crude oil and supplies by-products like Jet fuel, Petrol, Gasoil, Gas etc. Plans are underway for implementation in 2010 to increase capacity and efficiency. SNH Société nationale des hydrocarbures, the National Oil and Gas Company and its partner Perenco have authorization to extract Gas from the Sanaga Sud Field. Geovic Cameroon is initiating the exploration and mining of Cobalt and Nickel deposits.
Opportunities in this area are in distribution of different manufactured products, financing and marketing.
Banking & Insurance & Finance: The banking industry in Cameroon is governed by both internal and external regulations. Cameroon along with five other countries of the Central African Sub- Region has one central bank, the Bank of central African States known by the French acronym 'BEAC' and headquartered in Cameroon. With the increasing trend in trade volumes in the country, there is an opportunity for funding and financing to support these trade volumes. Export trade will benefit from local banks with an international network to support cross border trading regulations.
Tourism & Travel: The tourism industry in Cameroon is benefitting due to attention from the WWF and its work with the wildlife community in the country mainly the Limbe Botanic Garden and Zoo in the southwest province. It is a growing albeit minor industry and opportunities in this area are numerous. Cameroon is rich in culture with more than 260 different tribes with distinct dialects split predominantly into two, French and English speaking Cameroon. This heritage makes for a rich culture and tourism destination, air travel within the country is available with Elysian airways. The north of the country is the primary tourist draw with several wildlife reserves, including the largest and best-run in West Africa, Waza National Park. The park offers both Animal viewing and big game hunting. Maroua houses a large crafts market and museums while the hotel business in Cameroon is reportedly on the increase with more overnight stays. The Adamawa, East and South province offer a new front for expansion as transport conditions improve.
Construction Industry: Construction is another growing industry in the country, with the increase in need for transportation and commercial infrastructure. The Chinese are big stakeholders where road infrastructure is concerned and more opportunities continue to arise especially in the more commercial cities of the country. On the residential front, housing is becoming more commercialized with more people buying completed or semi completed building as opposed to building from scratch.
Opportunities in this area are in contracting and construction projects for road infrastructure and industrialization. There is also a need for financing based on project kind and quality.
Major Export - Commodities of the country are crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton
Main partners - Spain Italy, France , UK , U.S. , Netherlands
Main Imports - Commodities of the country are machinery, electrical equipment, transport equipment, fuel, food Main Partners of the country are France , Nigeria , Belgium , U.S. , Germany , China and Italy.
NO BILATERAL TRADE AGEEMENT BETWEEN CAMEROON AND INDIA
ECONOMIC INDICATORS OF CAMEROON:
Cameroon is a Lower-income country comes under the Sub-Saharan African region, according to the classification made by the World Bank on the basis of Region and Income for the year 2007.
Despite lacking in development and technology part the country like cameroon having low income level population but the Cameroon have abundance of petroleum, bauxite, iron ore, timber, hydropower and agricultural products like coffee, cocoa, cotton, rubber, bananas, oilseed, grains, root starches; livestock; timber.
The country also perform well because the economic indicators shows that even in economic crisis the country is least affected by the global turmoil.
Uk, USA are the main exporter of Cameroon and there is no bilateral trade agreement between India and Cameroon. The Cameroon govt also provide various kinds of tax benefits to the people. They a also provide primary as well as secondary education free of cost. So, that they become the asset for the organisation.
From the above analysis we see that agriculture contributes a lot in the GDP of the country and there are also a lots of opportunities available in the country.
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