An Engine for CEMAC-ECOWAS Inter-regional Cooperation
Trade between Cameroon and Nigeria has grown significantly since the 1960s. Whilst a significant proportion of the cross-border trade is informal, the exchange of goods and services between these two nations nutures a real catalyst for broader cooperation between the Central African region and West Africa for which these countries are respectively lion-giants in the Economic and Monetary Community of Central African States (CEMAC) and the Economic Community of West African States.
By Joe Eyong Assoua
“The dynamism of trade has transformed international economic relations and particularly the patterns of regional interactions… the rise in trade among these regions in an increasingly globalize economy has been accompanied by rapidly rising cross-border FDI flows” (Loser 2009). ‘African countries have made many attempts to create various cooperative organizations in order to increase trade and promote industrialization through integration” (Vylder 2007). “While it is difficult to get an accurate overview of the extent of informal cross-border trade in sub-Saharan Africa, reviewed surveys suggest that such trade still represents a significant proportion of regional cross- border trade” ( Lesser and Leeman 2009). According to Schiff and Winters (2003), “The growth of regional trade blocs has been one of the major developments in international relations in recent years.