Doing Business in Guinea-Conakry

The objectives of the subject “International Trade and Business in the Republic of Guinea” are the following:

1. To analyze the Guinean Economy and Global Trade;
2. To know the business opportunities in the Republic of Guinea;
3. To explore the Guinean trade relations with the country of the student;
4. To know the Guinean Trade Agreements;
5. To develop a business plan for the Guinean Market.

The Subject “Foreign Trade and Business in Guinea Conakry” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): Business in Africa, Transport in Africa, International Business, Foreign Trade, International Transport.

Doctorate (DIB): African Business, Islamic Business, World Trade.

Course: Business in West Africa.

Area of Knowledge: Africa.

Learning materials in or Guinée-Conakry Guiné-Conacri Guinea-Conakry.

1. Credits of the subject “Foreign Trade and Business in Guinea-Conakry”: 1 ;
2. Duration: one week.

Trade Agreements and preferential access of Guinea-Conakry

1. Guinea-Conakry and the West African Economic Area;
2. Economic Community of West African States (ECOWAS);
3. West African Monetary Zone (WAMZ);
4. African Continental Free-Trade Area (AfCFTA);
5. Mano River Union (MRU);
6. Niger Basin Authority;
7. Organization for the Development of the Senegal River;
8. Community of Sahel-Saharan States (CEN-SAD);
9. European Union:
   1. Africa-European Union Strategic Partnership;
   2. Generalized System of Preferences (GSP).
10. AGOA - African Growth and Opportunity Act (US);
11. Organization for the Harmonization of Business Law in Africa (OHADA);
12. Islamic Trade Preferential System (TPS-OIC);
13. Arab Bank for Economic Development in Africa (BADEA);
14. Global System of Trade Preferences among Developing Countries (GSTP).

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS);
   2. WTO Trade Facilitation Agreement (TFA);
   3. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS);
   4. WTO Agreement on Technical Barriers to Trade (TBT);
   5. WTO Agreement on Preshipment Inspection (PSI);
   6. WTO Agreement on Safeguards (SG).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea (Rotterdam Rules, UN);
4. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN).

African Trade and Economic Organizations:

1. Economic Commission for Africa (ECA);
2. African Union (AU)
   1. Comprehensive Africa Agriculture Development Programme (CAADP);
   2. African Union Convention on Preventing and Combating Corruption;
   3. 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-BRICS (Brazil, Russia, India, China, South Africa);
8. Africa-Turkey Partnership;
9. Africa-South America Summit (ASA);
10. Forum on China-Africa Cooperation;
11. Africa-India Framework for Cooperation.

Islamic Organizations:

1. Afro-Arab Cooperation;
2. Arab Bank for Economic Development in Africa (BADEA);
3. Islamic Development Bank (IsDB);
4. Organization of Islamic Cooperation (OIC).

Global Organizations:

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
2. World Bank (WB);
3. World Trade Organization (WTO);
4. International Monetary Fund (IMF).

The Republic of Guinea-Conakry (Africa).

1. Borders of Guinea-Conakry: Guinea-Bissau, Senegal, Mali, Ivory Coast, Liberia, and Sierra Leone;
2. Independence of Guinea-Conakry: 1958 (France);
3. Guinean population: 10 million people
   1. Bambara;
   2. Mandinka;
   3. Fula.
4. Only 41% of adults were literate in 2010;
5. Area of Guinea-Conakry: 245,857 square kilometers;
6. Guinean Capital: Conakry (2.7 million).
   1. Port of Guinea.
7. Guinean largest cities: Conakry, Kankan, Nzérékoré and Guéckédou;
8. Official language of Guinea-Conakry: French;
9. President of Guinea-Conakry: Alpha Conde;
10. Ebola virus crisis in 2014.

More information about Guinea (EENI African Business Portal).

Main religions in Guinea-Conakry:

1. Islam (85% of the Guinean population);
2. African Traditional Religions.

Guinea-Conakry belongs to the West African Economic Area (African Civilization).

Guinean Economy

1. 66% of the bauxite deposits in the World;
2. Largest iron ore deposits
   1. Simandou: The largest undeveloped iron ore.
3. Currency of Guinea-Conakry: Guinean Franc (GNF);
4. Guinean GDP growth: 2%
   1. Agriculture (13%);
   2. Industry (48%);
   3. Services (39%).
5. Inflation in Guinea-Conakry: 9.9%;
6. Most Guinean dynamic sectors: agriculture and construction;
7. Stabilization of the Guinean Economy;
8. Deficit and external debt reduction;
9. Declining in mining sector (gold, diamonds, and alumina);
10. Poor business environment;
11. Top exports of Guinea-Conakry: bauxite, alumina, gold, diamonds, coffee, and fish;
12. Top Guinean trade partners: Ivory Coast, France, South Korea, Spain, Ireland, and the United States.

(Foreign Trade and Business in Guinea-Conakry):

(c) EENI Global Business School (1995-2023)
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