At opening of 7th National SMEs Days: PM's representative drums need to boost local production.

The two-day event, which wrapped up Wednesday December 13, at the Yaoundé Conference Centre, took place under the distinguished patronage of the Prime Minister. 
The event, organised by the Ministry of Small and Medium-Sized Enterprises, Social Economy and Handicrafts, MINPMEESA, is holding under the theme: "Creating opportunities to develop SMEs and promote value chains for the implementation of the import-substitution policy”.
According to the organisers, the aim of this year's event is to look at efficient strategies for successfully promoting value chains in the three key sub-sectors namely; agro-industry, wood and cotton textile leather. 
It shall also position as many SMEs as possible around the development goals of these sectors, with a view to giving concrete content to the national import-substitution policy and ultimately guaranteeing the prosperity of our economy.
Speaking at the launch of JNPME 2023, Minister Bello Bouba Maigari said it was an occasion to seek solutions to reduce unnecessary importations and boost value-added exports. 
The minister said through this, they would be able to guarantee the implementation of the national import-substitution policy. 
Minister Bello Bouba Maigari bemoaned the fact that despite the huge economic potential of the country, they have continued to import. 

The member of government said according to a report of the National Institute of Statistics in November, there is a deficit in the balance of trade. 
He said it rose from 99.5 billion FCFA between April and June 2022 to 396.5 trillion FCFA in April and June 2023. This, he mentioned, represents an increase of 297 billion FCFA annually.
The minister further explained that this was due to a 26.1% increase in overall import volumes, against a 2.4% drop in exports. He expressed optimism that through the SMEs Days, the narrative could change.

Enter SMEs minister
According to the SMEs Minister, Achille Bassilekin III, through the gathering, they shall be able to have a set of practical measures that will be implemented by the government to facilitate the transition and transformational agenda of the country.

Minister Bassilekin III underscored the need to develop and empower more SME's in the transformation sector. 
"As you are aware in the context of the National Development Strategy, it is protected that Cameroon in terms of manufactured goods should have a mix.  Manufactured goods represent 40% of our national production. And to reach that objective, we need to ensure that we develop, and empower more SMEs in the transformation sector, and this process is revolving around the development of small industrial units," he said. 
The minister added that they have identified three main sectors; agrifood, cotton and textile sector and also the wood sector. 
These three sectors,  he said, are "based on Cameroon assets and comparative advantage have the potential to not only transform our productive capacity but to enable Cameroon to become an emerging economy with the characteristics of an emerging economy".
The 7th edition of the National SMEs Days is being attended by over 500 participants. Discussions in a hybrid format, with face to face and online sessions to capitalise on the optimum participation of all players in the national and international entrepreneurial ecosystem.