While trade liberalization is expected to boost economic welfare, the reverse is true in Cameroon and most LDCs countries. To explore the possible effects of trade liberalization on poverty alleviation in Cameroon, this study examines key indicators of poverty. Parallel to Multilateral WTO negotiation’s, which have temporally come to a halt, a large number of bilateral and regional trade agreements have been signed, or are under negotiation.. The purpose of this study is to present a broad view of recent events in this area of trade liberalization or regionalization and the South –South Trade with special emphasis on agreements covering developing countries in general and LDCs in particular. Is Cameroon Trade the answer to alleviating poverty?