Equatorial Guinea- Business Opportunities
The Ambassador of the Republic of Equatorial Guinea H.E Manuel Mbela Bama Ndong and Counsellor H.E. Leonardo Mola Laplata Mum of Guinea has accepted the Honorary Membership of Global India Business Forum, in the presence of Global President, Dr. Jitendra Joshi and Director Global operation, Mrs. Deepali Gadkari Explained Activities of GIBF to support MSME sector Globally Realizing the strengths of Global India Business Forum and the Consulate of the Republic of Equatorial Guinea and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties will be associated with each other in mutual cooperation to facilitate mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking
About Equatorial Guinea
Equatorial Guinea officially the Republic of Equatorial Guinea is a country located on the west coast of Central Africa, with an area of 28,000 square kilometres (11,000 sq mi). Formerly the colony of Spanish Guinea, its post-independence name evokes its location near both the Equator and the Gulf of Guinea. As of 2015, the country had a population of 1,225,367Before independence Equatorial Guinea exported cocoa, coffee and timber, mostly to its colonial ruler, Spain, but also to Germany and the UK. On 1 January 1985, the country became the first non-Francophone African member of the franc zone, adopting the CFA franc as its currency. The national currency, the ekwele, had previously been linked to the Spanish peseta.
Business Opportunities in Equatorial Guinea
Equatorial Guinea advises international businesses, companies and corporations on the procedures and processes for the profitable export, import, marketing, sales and distribution of products and goods through the tax and duty free trade zones in Equatorial Guinea. Equatorial Guinea offer consultancy services on every aspect of importing, exporting and distributing into the Gabon market, including supplier selection, sourcing trading partners, contract negotiation, favourable shipping terms, carrier and route selection, licensing, customs clearance, warehousing, sales and distribution, as well as any other area of concern for your company. The main industries of Equatorial Guinea include: petroleum, agricultural products and wood processing complexes. The Equatorial Guinea capital and main port is Malabo.
Exports and Imports in Equatorial Guinea
Imports in Equatorial Guinea decreased to -1332.80 CFA Franc Billion in 2019 from 1800.50 CFA Franc Billion in 2018. Equatorial Guinea imports mostly consumer goods and capital equipment. The main import partner is Spain (17 percent of total imports) followed by the United States (13 percent). Others include: France, China and Ivory Coast.
Top Exports of Equatorial Guinea
Exports in Equatorial Guinea decreased to 2756.70 CFA Franc Billion in 2019 from 3131.60 CFA Franc Billion in 2018. In Equatorial Guinea, oil accounts for 80 percent of total exports and 90 percent of government revenues. Equatorial Guinea also exports timber, natural gas, cocoa and fish. Equatorial Guinea’s main export partner is Spain (15 percent of total exports). Others include: China, United States and Japan.
Top Imports of Equatorial Guinea
Equatorial Guinea imports mostly consumer goods and capital equipment. The main import partner is Spain (17 percent of total imports) followed by the United States (13 percent). Others include: France, China and Ivory Coast.