Trade and Business in Sierra Leone

The objectives of the subject “Foreign Trade and Business in the Republic of Sierra Leone” are the following:

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

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

Masters (MIB): International Business, Business in Africa.

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

Course: Business in West Africa.

Learning materials in or Sierra Leone Sierra Leona Sierra Leona.

1. Credits of the subject “Foreign Trade and Business in Sierra Leone”: 1 ;
2. Duration: one week.

Area of Knowledge: Africa.

Sierra Leonean Preferential Access and Free Trade Agreements:

1. Sierra Leone and the West African Economic Area;
2. Economic Community of West African States (ECOWAS)
   1. ECOWAS Regional Road Transport and Transit Facilitation Programme.
3. West African Monetary Zone (WAMZ);
4. Community of Sahel-Saharan States (CEN-SAD);
5. African Continental Free-Trade Area (AfCFTA);
6. Mano River Union (MRU);
7. European Union-Sierra Leone:
   1. Generalized System of Preferences (GSP);
   2. Africa-European Union Strategic Partnership/Everything But Arms (EBA).
8. African Growth and Opportunity Act (US) - AGOA;
9. Islamic Trade Preferential System (TPS-OIC).

1. World Trade Organization (WTO)
   1. WTO Agreement on Sanitary and Phytosanitary Measures (SPS);
   2. WTO General Agreement on Trade in Services (GATS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN);
4. International Bureau of Containers and Intermodal Transport (BIC);
5. International Civil Aviation Organization (ICAO, Chicago Convention);
6. International Maritime Organization (IMO)
   1. Convention Relating to Temporary Admission (Istanbul Convention) - not a member.
7. Customs Convention on Containers (CCC, UN) - not a member.

African Trade and Economic Organizations:

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. Comprehensive Africa Agriculture Development Programme (CAADP).
3. African Development Bank (AfDB);
4. Africa-Japan Cooperation (TICAD);
5. Africa-South America Summit (ASA);
6. Forum on China-Africa Cooperation;
7. Africa-Asia Strategic Partnership (NAASP);
8. Africa-Korea Partnership;
9. Africa-India Framework for Cooperation;
10. Africa-BRICS (Brazil, Russia, India, China, South Africa);
11. Africa-Turkey Partnership.

Islamic Organizations:

1. Afro-Arab Cooperation;
2. Arab Bank for Economic Development in Africa (BADEA);
3. Organization of Islamic Cooperation (OIC)
   1. Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC);
   2. Islamic Chamber of Commerce and Industry (ICCI);
   3. Islamic Centre for Development of Trade (ICDT).

Global Economic Organizations:

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

The Republic of Sierra Leone

1. Borders of Sierra Leone: Guinea-Conakry and Liberia;
2. Sierra Leonean Area: 72,000 square kilometers (one of the smallest African nations);
3. Sierra Leonean population: 7 million people
   1. Mandinka.
4. Capital of Sierra Leone: Freetown (1.2 million);
5. Other cities of Sierra Leone: Bo, Kenema, Koidu Town, and Makeni;
6. Official language of Sierra Leone: English;
7. Local languages: Temne, Mende, and Krio;
8. Government of Sierra Leone: Constitutional Democracy;
9. Sierra Leonean Legal System: English common law;
10. Sierra Leone was created in 1787;
11. Independence of Sierra Leone: 1961 (United Kingdom).

More information about Sierra Leone (EENI African Business Portal).

The main religions in Sierra Leone are:

1. Islam (78%);
2. Christianity (27%);
3. African Traditional Religions.

Sierra Leone belongs to the West African Economic Area (African Civilization).

Economy of Sierra Leone:

1. Sierra Leonean GDP: 1.99 billion dollars;
2. GDP growth rate: 13.8%;
3. Sierra Leonean dynamic sectors: agriculture, construction, manufacturing, services, and iron-ore mining;
4. Sierra Leonean Agriculture sector: 51% of the GDP/17% of exports/61% of workforce;
5. Top agricultural products of Sierra Leone: coffee, cocoa, and oil palm;
6. Main resources of Sierra Leone: mineral, tourism, agriculture, marine, petrol and gas, energy, and fishery;
7. Top Sierra Leonean export products: diamonds, rutile, and bauxite iron ore;
8. The main economic activities in Sierra Leone are gold and diamond mining;
9. Sierra Leone has the largest natural African port;
10. The largest Sierra Leonean trading partners are China, India, the United Kingdom, the U.S., South Africa, and Belgium;
11. Common External Tariff (CET) of the Economic Community of West African States (ECOWAS);
12. Foreign Direct Investment (FDI) stock in Sierra Leone: 740 million dollars.

Sample:

(c) EENI Global Business School (1995-2022)
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