Ambassador Garvey’s Speeches

Remarks Given at the Signing Ceremony between
Globtournet Inc. and American Ivnestors

At the Multipurpose Room of the U.S. Embassy
March 19, 2008 – 10:00

The Prime Minister’s Representative,
The Minister of Youth Affairs,
The Minister of Post and Telecommunications,
Honorable members of the Government of Cameroon,
The President of Globtournet,
Visiting American Business executives,
Honored guests,
Members of the media,
Ladies and Gentlemen,

It gives me great pleasure to speak at this special signing ceremony of a partnership agreement between GlobtourNet, Inc. a Cameroonian company, and a group of renowned American investors composed of M&T Bank, Sintel Satellite Services, Intelsat, Financial Bridge, Rodopi, Airspan, and Enterprise Florida.

The US government is committed to the development and sustainment of meaningful trade and investment relationships with Cameroon as essential components in our partnership for economic development.  Our support for trade and investment serves as a means of increasing economic stability and prosperity, thereby supporting similarly critical socio-political reforms.  Our two governments have endorsed several bilateral treaties with this goal in mind.

The United States Embassy, through its Commercial Section, is relentless in its efforts to assist American companies looking for opportunities in Cameroon as well as Cameroonian firms looking for U.S. partners for investment and financing opportunities.  Our Commercial Specialists—-here in Yaounde and also in our Branch Office in Douala—are here to assist you with a variety of services tailored to your needs. 

Cameroon’s economy will be built through the enterprising efforts and hard work of Cameroonians themselves, but there are benefits to be gained through partnerships with American and other foreign investors.  There are a number of pending U.S. investments in the energy, oil, tourism, mining, social housing, road construction, and public transportation sectors. 

The information and communications technology project we are here to celebrate demonstrates how it is possible to create partnerships to the mutual benefit of both Americans and Cameroonians.  Additionally, these agreements represent intensive work by a number of Cameroonian Government agencies, providing an example of how our governments, working with the private sector, can provide solutions for economic growth.  The Information Technology sector is critical to any country’s development and once operational, Globtournet promises to provide world-class internet and data connectivity to Cameroonian households, businesses, schools and NGOs.  This project represents more than 10 million CFA in new investment and, more importantly, an important step in helping Cameroon harness the economic power of the IT sector.

I look forward to more fruitful collaboration on trade and investment between the Unites States and the Republic of Cameroon.

Congratulations to the many people—Cameroonians and Americans—who worked so hard to deliver this success story.  And thank you all for coming to today’s signing ceremony.