CEMAC leaders say integration corner stone of sub region’s dev´t.

The six leaders who converged on Yaounde, described sub-regional integration as the bulwark on which long term development, sustainable growth and prosperity of the community rests.

According to resolutions reached at the close of the meeting, the leaders agreed to disburse more than two billion United States Dollars, USD, to finance projects that will foster integration within the CEMAC sub-region.

The leaders also endorsed all reforms related to strengthening integration, boosting the economies of member states following the impact of the COVID-19 pandemic and the conflict between Russia and Ukraine.

President Biya in his opening speech as Chair of the summit, disclosed that the growth rate in the sub-region is expected to stand at 3.3% in 2023 as compared to 3.5% in 2022.

He stressed that the said mark can only be possible through effective regional integration.

"Despite exogenous constraints...our common organization remained focused on pursuing our integration objectives. We have reached major milestones because community building is a long process. I remain optimistic about its progressive establishment," Biya said while closing the summit.

He added that decisions reached at the end of the summit have potential of bringing immediate benefits to the populations if different governments of member states implemented them without any delay.

“The resolutions will produce positive effects that will be immediately noticed by the people if implemented to the latter,” President Biya reiterated.

He stated that he was impressed that all the leaders showed more interest in the well being of their communities than was the case in the past.

President Biya was enthused that member states have evolved and come a long way as far as implementing economic, financial and structural reforms are concerned; as well as expressing satisfaction over improvements recorded in the functioning of their common sub regional institutions, especially the Bank of Central African States, BEAC.

Commenting on his balance sheet as CEMAC leader, President Biya said his actions all through his tenure were centered on pushing forward the integration agenda.

He then urged his successor to stay focused on fostering the common objectives of member states; before pledging his readiness to collaborate and advise the incoming CEMAC leader whenever such assistance was solicited.

The President of the Central African Republic, Prof Faustin-Archange Touadera, took over CEMAC leadership from Biya for a four-year mandate.

CEMAC member countries, including Cameroon, Chad, the Central African Republic, Equatorial Guinea, Gabon, and the Republic of the Congo, aim to promote peace and the harmonious development of its member states, in the framework of establishing an economic union and a monetary union.