Business in the Comoros, Moroni

The objectives of the subject “Foreign Trade and Business in the Union of the Comoros” are the following:

1. To analyse the Comorian Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in the Comoros
3. To explore the Comorian trade relations with the country of the student
4. To know the Comorian Trade Agreements
5. To develop a business plan for the Comorian Market

Comorian Preferential Trade Agreements:

1. The Comoros and the East African Economic Area
2. Common Market for Eastern and Southern Africa (COMESA)
3. Southern African Development Community (SADC) (2017)
   1. European Union-SADC Free Trade Agreement (FTA)
4. COMESA-EAC-SADC Free Trade Agreement (FTA)
5. African Continental Free-Trade Area (AfCFTA)
6. Indian Ocean Commission (IOC)
7. European Union-Comoros:
   1. Africa-European Union Strategic Partnership
   2. Generalised System of Preferences (GSP)
8. United States-Comoros:
   1. AGOA United States-Africa
   2. COMESA-United States Trade and Investment Framework Agreement
9. Community of Sahel-Saharan States (CEN-SAD)
10. Indian-Ocean Rim Association (IORA)
11. Organisation for the Harmonisation of Business Law in Africa (OHADA)
12. Islamic Trade Preferential System (TPS-OIC)
13. Greater Arab Free-Trade Area (GAFTA) - not a member

Trade Facilitation Programs

1. World Trade Organisation (WTO) (in process of accession)
2. International Maritime Organisation (IMO)
3. International Civil Aviation Organisation (ICAO, Chicago Convention)
4. World Customs Organisation (WCO)
   1. Revised Kyoto Convention (RKC)

African Trade and Economic Organisations

1. Economic Commission for Africa (ECA)
2. African Union (AU)
   1. African Union Convention on Preventing and Combating Corruption
   2. African Union Development Agency (AUDA-NEPAD)
3. African Development Bank (AfDB)
4. Africa-Asia Strategic Partnership (NAASP)
5. Africa-Korea Partnership
6. Africa-Japan Cooperation (TICAD)
7. Africa-South America Summit (ASA)
8. Forum on China-Africa Cooperation
9. Africa-India Framework for Cooperation
10. Africa-BRICS (Brazil, Russia, India, China, South Africa)
11. Africa-Turkey Partnership

Islamic Organisations

1. Organisation of Islamic Cooperation (OIC)
   1. Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC)
   2. Islamic Chamber of Commerce and Industry (ICCI)
   3. Islamic Centre for Development of Trade (ICDT)
   4. Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC)
2. Arab League (LAS)
3. Afro-Arab Cooperation
4. Arab Bank for Economic Development in Africa (BADEA)
5. Asia-Middle East Dialogue
6. Summit of South American-Arab Countries
7. Arab Development Funds
8. Islamic Development Bank (IsDB)

Global Organisations

1. International Organisation of the Francophonie
2. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. World Intellectual Property Organisation (WIPO)
3. World Bank (WB)
4. International Monetary Fund (IMF)
5. ...

The Union of the Comoros:

1. Moroni is the capital of the Comoros (47,000)
2. Comorian population: 889,000 people
   1. Bantu
3. Area of the Comoros: 2,236 square kilometres
4. Comorian official languages: Arabic, French, and Comorian (Swahili influences)
5. The nearest countries of the Union of the Comoros are Mozambique, Tanzania, Madagascar, and Seychelles
6. A crime-free nation
7. Independence of the Comoros from France in 1975

More information: The Comoros (EENI African Portal).

Main religion in the Comoros: Islam

The Comoros belongs to the East African Economic Area (African Civilisation).

Comorian Economy:

1. The economy of the Union of the Comoros relies mainly on the agricultural sector and has a narrow export base with three export commodities: vanilla, cloves, and ylang-ylang
2. Vanilla and cloves account for 75% of the Comorian exports
3. The agriculture contributes 40% to the gross domestic product, employs 80% of the labour force, and provides the largest exports revenues
4. The Union of the Comoros has an inadequate transport system, a young and quickly increasing the population, and few natural resources
5. Industrial zone in the Port of Moroni
6. Comorian GDP growth: 3.6%
7. Top economic sectors: agriculture (50% of the Comorian GDP), retail, tourism, construction
8. Telecommunications is a state monopoly
9. Top trading partners of the Comoros: Turkey, Singapore, India, the European Union, and the Emirates
10. 100% tariff reduction on imports from the members of the Common Market for Eastern and Southern Africa (COMESA)