Investment: AGOA Resource Centre in Douala
The African Growth and Opportunity Act was conceived to expand trade between the United States and eligible African countries. AGOA offers tax-free preferences for thousands of manufactured and processed products on the African continent. In order to further facilitate exports, AGOA Resource Centres were born throughout Africa including Cameroon.
Considered as real trade assistance centres, AGOA Resource Centres ensure orientation and provide the public with necessary information relating to the AGOA programme. AGOA Resource Centres provide trade information, offering consultancy services on trade and export development; they help firms in understanding the requirements and regulations of the American market in order to enable Africans to fully benefit from the provisions of AGOA.
As a reminder, the AGOA Resource Centre (ARC) in Cameroon based in the Cameroon Chamber of Commerce, Industry, Mines and Crafts (CCIMA) was inaugurated on 7 June 2010 in Douala by the former United States Ambassador to Cameroon, HE Janet GARVEY, in the presence of the Minister of Trade, Mr. Luc Magloire MBARGA ATANGANA and several economic operators. During the said ceremony, it was acknowledged that trade between Cameroon and the United States had increased by 25%. Between 2008 and 2009, Cameroon exported twice more than it imported from the United States. This increase in trade volume was made possible by AGOA which aims at giving economic support to African countries, Christophe EKEN, CCIMA chairman acknowledged at the time.