This is exciting news for Cameroon and the African Continental Free Trade Area (AfCFTA)as Cameroon shipped her first Aluminium ingots under the AfCFTA program. This shipment signifies the start of commercially significant trade for Cameroonian shippers under AfCFTA benefits. Cameroonian businesses can now export goods to other African countries with reduced tariffs or duty-free access, making their products more competitive.
The shipment of 100 tons of aluminum ingots to Algeria highlights the potential of AfCFTA to increase trade between African nations. This specific example demonstrates trade in raw materials within the continent.
Cham Etienne Bama, Coordinator of the AfCFTA Guided Trade Initiative for Cameroon said on Friday, July 5, 2024, that the shipping ‘marks the beginning of a new journey for our Shippers in Cameroon as commercially meaningful trade under AfCFTA preferences takes another dimension’
The presence of the Minister of Trade and other dignitaries during the shipment signifies the impor
tance the Cameroonian government places on AfCFTA and its potential to benefit the country’s economy.
Overall, this news is a positive step towards achieving the goals of AfCFTA, which aims to create a single market for goods and services across Africa, leading to increased trade, investment, and job creation on the continent.
What are Aluminium Ingots
Aluminum ingots are a versatile raw material used in a wide range of industries due to the numerous advantages of aluminum such as being significantly lighter than other metals like steel, making it ideal for applications where weight reduction is crucial, such as transportation (cars, airplanes) and construction. It also offers good strength and can be further strengthened by alloying it with other elements.
Here are some of the common uses of aluminum ingots:
Transportation: Car parts (engine blocks, wheels), airplane components (wings, fuselage)
Construction: Building materials (cladding, roofing), window frames, beverage cans
Electrical Applications:
Electrical wires, cables, busbars (conductors in electrical panels)
Consumer Goods: Appliances (refrigerators, washing machines), cookware, electronics (laptop cases)
Machinery and Equipment: Industrial machinery parts, tools
Source: Cameroon News Agency