Business Profile in Congo

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Travel Guide for
Congo

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trips to Congo

Business Profile

República del Congo (Brazzaville)

BusinessProfile • GDP: $42.74 billion.
• Main exports: Petroleum, sawn timber, diamonds, cocoa and sugar.
• Main imports: Machinery, steel, foodstuffs and iron.
• Main trade partners: France, Germany, China, Italy, USA and Belgium. Economy About 60 per cent of the country is covered by tropical forest, roughly half of which can be exploited economically. Forestry is thus an important part of the economy and, along with agriculture, employs about two-thirds of the working population. Both subsistence crops (cassava, plantains) and cash crops (sugar, palm oil, coffee, cocoa) are grown; even so, Congo continues to depend on a large quantity of imported food. A further 20 per cent of the workforce is employed in various industries, of which the most important is oil. The first field came on stream in 1960 and the industry now accounts for 90 per cent of Congo’s export earnings; it also allows the country a trade balance under normal circumstances, even though the oil sector’s contribution to GNP has dropped from 40 per cent in 1985 to its current level of about 20 per cent. Strengthening of the non-oil economy remains the main long-term objective. Unfortunately, the Government’s economic planning and reforms have been undermined by political instability and fractious relations with the IMF and World Bank (which have underwritten it). The USA is the largest oil purchaser, followed by France and Spain. France provides two-thirds of Congo’s imports, consisting largely of machinery, transport equipment, chemicals, iron and steel as well as foodstuffs. Annual per capita income, at US$800, is relatively high by regional standards. Congo is a member of the CFA Franc Zone and of the Central African Economic and Customs Union (CEEAC). Business Etiquette Jackets and ties are not usually worn by men on business visits but are expected when visiting Government officials. A knowledge of French is essential as there are no professional translators available. Normal courtesies should be observed and the best months for business visits are January to March and June to September. Office hours: Usually Mon-Fri 0700-1400, Sat 0700-1200.

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