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U.S. Department of State
Cote D'Ivoire Country Commercial Guide
Office of the Coordinator for Business Affairs
COTE D'IVOIRE
COUNTRY COMMERCIAL GUIDE
FISCAL YEAR 1996
COTE D'IVOIRE
This Country Commercial Guide (CCG) presents a comprehensive look at
Cote D'Ivoire's commercial environment through economic, political and
market analyses.
The CCGs were established by recommendation of the Trade Promotion
Coordinating Committee (TPCC), a multi-agency task force, to consolidate
various reporting documents prepared for the U.S. business community.
Country Commercial Guides are prepared annualy at U.S. Embassies through
the combined efforts of several U.S. governement agencies.
Chapter I Executive Summary
Chapter II Economic Tends and Outlook
1. Major Trends and Outlook
2. Principal Growth Sectors
3. Government Role in the Economy
4. Balance of Payments Situation
5. Infrastructure Situation
Chapter III Political Environment
Chapter IV Marketing U.S. Products and Services
1. Distribution and Sales Channels
2. Use of Agents/Distributors; Finding a Partner
3. Franchising
4. Direct Marketing
5. Joint Ventures/Licensing
6. Steps to Establishing an Office
7. Selling Factors/Techniques
8. Advertising and Trade Promotion
9. Product Pricing
10. Sales Service/Customer Support
11. Selling to the Government
12. Protecting your Product from IPR Infringement
13. Need for a Local Attorney
Chapter V Leading Sectors for U.S. Exports and Investment
1. Best Prospects for Non-Agricultural Goods and Services
2. Best Prospects for Agricultural Products
3. Significant Investment Opportunities
4. Operating Assumptions
Chapter VI Trade Regulations and Standards
1. Trade Barriers, including Tariffs, Non-Tariff Barriers
and Import Taxes
2. Customs Valuation
3. Import Licenses
4. Export Controls
5. Import Documentation
6. Temporary Entry
7. Labeling, Marking Requirements
8. Prohibited Imports
9. Standards
10. Free Trade Zones/Warehouses
11. Membership in Free Trade Agreements
Chapter VII Investment Climate
1. Openness to Foreign Investment
Chapter VII Investment Climate (cont'd.)
2. Conversion and Transfer Policies
3. Expropriation and Compensation
4. Dispute Settlement
5. Political Violence
6. Performance Requirements/Incentives
7. Right to Private Ownership and Establishment
8. Protection of Property Rights
9. Regulatory System: Laws and Procedures
10. Bilateral Investment Agreements
11. OPIC and other Investment Insurance Programs
12. Labor
13. Foreign Trade Zones/Free Ports
14. Capital Outflow Policy
15. Major Foreign Investors
Chapter VIII Trade and Project Financing
1. The Banking System
2. Foreign Exchange Controls Affecting Trading
3. General Financing Availability
4. How to Finance Exports/Methods of Payment
5. Types of Available Export Financing and Insurance
6. Ivorian Banks and their Correspondents in the U.S.
Chapter IX Business Guidelines: Travel and Infrastructure
1. Business Etiquette
2. Entry Requirements: Health, Visas, Work Permits
3. Entry Requirements: Personal/Professional Goods
4. Public Holidays
5. Business Infrastructure
6. Currency Exchange
7. Labor Costs and Legislation
8. Overland Transport
9. Air and Maritime Transport
10. Communications
11. Electricity
12. Water
13. Taxes
14. Rents: Office and Residential
15. Housing/Business Services/Schools
16. Security
17. Health Precautions
18. Insurance
19. International Mail and Long Distance Calling
20. Transportation in Abidjan
21. Dining Out
22. General Advice
23. Embassy Assistance
Chapter X Appendices
A. Country Data
B. Domestic Economy
C. Trade
D. Best Prospects: Industrial and Agricultural
E. U.S. and Cote d'Ivoire Contacts
F. Market Research
G. Trade Event Schedule
I. EXECUTIVE SUMMARY
1. Overview
The outlook for commercial activity in Cote d'Ivoire, including
opportunities for U.S. firms, continues to be positive for 1995 and
1996. Benefits following the 1994 devaluation of the CFA franc (CFA/F),
a rigorous program of macroeconomic reform and structural adjustment
guided by the IMF and the World Bank, official debt forgiveness and
rescheduling, and large flows of concessional assistance brought an end
to a period of drift in Cote d'Ivoire's economic performance and
management. The government is committed to a program whereby the
private sector will become the engine of Cote d'Ivoire's future growth.
Reversing a pattern of negative growth that had persisted for years, GDP
grew by 1.7 percent in 1994; the government foresees growth rates
averaging 6.5 percent over the next three years. Inflation is steadily
declining after its post-devaluation surge to 32 percent; for 1995 it
will be in the 5-10 percent range, and thereafter it should return to
pre-devaluation rates of 3 percent per annum.
Agriculture dominates the economy in Cote d'Ivoire, with almost 70
percent of the Ivorian people engaged in some form of agricultural
activity. The sector accounts for one-third of GDP, and two-thirds of
export revenues. Still, Cote d'Ivoire has the largest industrial base in
sub-saharan francophone Africa, and it possesses the region's best
infrastructure by far. Cote d'Ivoire is thus an excellent platform from
which to conduct regional West African operations. Development of Cote
d'Ivoire's untapped mineral wealth will provide greatly expanded
prospects for growth in the future. Already a U.S.-led mining
consortium is exploiting gold reserves and a U.S.-led consortium is
bringing oil on stream; natural gas follows in October, 1995.
Cote d'Ivoire's politics have been the most stable in Africa since its
independence in 1960. The country's founder, Felix Houphouet-Boigny,
died in office in December 1993, but his constitutional successor, Henri
Konan Bedie, took office peacefully. Although the incumbent faces
election in October, 1995, most observers expect peaceful voting. While
there has been some unhappiness over the effects of the currency
devaluation and structural reform in some quarters, the political
consensus is that these changes are irreversible.
2. Commercial Environment
While Cote d'Ivoire remains very open and hospitable to trade and
investment from the United States, its traditional ties to France (and
Europe), its almost exclusive use of the French language, business laws
and practices, the country's relatively small market size, and its
distance from the U.S. all are factors which have served to limit U.S.
business relationships here. Adding to the difficulties are factors
such as the country's enormous debt burden and its resultant poor credit
rating, and limited (and costly) financing resources for U.S. exporters
and Ivorian buyers.
In 1994, the Ivorian import market was estimated to be USD 1.9 billion.
The U.S. with its 7 percent share occupied third place, behind France
the preponderant supplier (31 percent) and Nigeria (16 percent). Cote
d'Ivoire imports from the U.S. were estimated to be USD 128 million in
1994, up 27 percent over 1993. Principal U.S. exports included
telecommunications equipment, agricultural commodities, plastic
materials and resins and paper and paperboard. Since the devaluation,
many importers have expressed an interest in greater sourcing from the
United States.
3. Major Business Opportunities
There area many sectors which are of interest to U.S. business:
agriculture; offshore oil and gas development; telecommunications;
mining; electric power generation; generic pharmaceutical products and
food processing. Currently, U.S. companies participate in all of these
sectors. Opportunities exist both for expanded U.S. exports, as well as
for U.S. investment in these, and many other areas as well. Competition
will be stiff, however, as France, and French/Ivorian ventures,
influence local commercial activity significantly.
4. Embassy Assistance
The Commercial Service is represented in Abidjan, and it, the Foreign
Agriculture Service and other U.S. Embassy elements stand ready and
eager to assist U.S. businesses in their efforts to penetrate this
attractive West African market.
COUNTRY COMMERCIAL GUIDES ARE AVAILABLE ON THE NATIONAL TRADE DATA BANK
ON CD-ROM OR THROUGH THE INTERNET. PLEASE CONTACT STAT-USA AT 1-800-
STAT-USA FOR MORE INFORMATION. TO LOCATE COUNTRY COMMERCIAL GUIDES VIA
THE INTERNET, PLEASE USE THE FOLLOWING WORLDWIDE WEB ADDRESS: WWW.STST-
USA.GOV. CCGS CAN ALSO BE ORDERED IN HARD COPY OR ON DISKETTE FROM THE
NATIONAL TECHNICAL INFORMATION SERVICE (NTIS) AT 1-800-533-NTIS.
II. ECONOMIC TRENDS AND OUTLOOK
1. Major Trends and Outlook
The January 12, 1994 devaluation of Cote d'Ivoire's CFA franc (CFA/F),
the first realignment in more than forty years of fixed currency parity
with the French franc, remains a watershed event for this country.
Accompanying the devaluation, a rigorous program of macroeconomic reform
and structural adjustment guided by the IMF and World Bank opened the
way for substantial new concessional credits from these institutions.
Financial assistance from bilateral donors, especially France, is also
playing an important role in underpinning Cote d'Ivoire's comprehensive
adjustment strategy. A substantial rescheduling and reduction of the
country's crushing debt burden by official creditors at the so-called
Paris Club in March 1994 contributed to setting the new economic scene.
Providentially, during 1994 the prices for key Ivorian export
commodities, especially cocoa and coffee, rose to levels that had not
been seen for years. (The collapse of those prices had contributed
significantly to the economy's poor health in the 1980's and early
90's.) Together, these events brought an end to a period of drift in
Cote d'Ivoire's economic performance and management while opening
avenues of opportunity, including opportunities for U.S. firms, that
have not been seen for over a decade.
Economic developments in Cote d'Ivoire during the 18 months subsequent
to the devaluation of the CFA franc have been very encouraging. Cote
d'Ivoire's adjustment program for 1994, agreed upon with the IMF and
World Bank, was successful in terms of targets for growth, inflation,
the government budget, investment, and external equilibria. Real GDP
for 1994 grew by approximately 1.7 percent, double the original target,
reversing a pattern of negative growth that had persisted for years. The
strong positive response to the devaluation by non-traditional exports
(augmented by high commodity prices on world markets), and a shift in
demand toward local production, contributed to this growth outcome,
notwithstanding the impact of lower real wages on private consumption.
Inflation was quickly brought under control after the expected surge
following the devaluation, reflecting firm direction over nominal wages
and some prices, and restraint in budgetary and monetary policies. For
1994 as a whole, the cumulative rise in prices, 32.2 percent, was
slightly lower than originally forecast. While private investment rose
somewhat less than expected, reflecting initial post-devaluation
uncertainty and use of existing capacity, public investment, especially
in infrastructure, greatly exceeded projections. The government held
down public sector wage increases, and was able to reduce civil service
staffing. Budget revenues increased somewhat, and the government
settled a large portion of its domestic arrears. The primary budget
balance (which excludes external debt) moved from a chronic deficit to a
surplus position in 1994. On the negative side of the ledger, however,
Ivorian performance regarding the structural reform program has been
mixed, with delays in both the government's privatization program and
regarding planned public sector reforms.
The outlook for the near and medium term in Cote d'Ivoire remains quite
positive. The government foresees real GDP growth for 1995 of 6.4
percent, a rate which some observers believe will not be achieved but
one with which the IMF has not disagreed. Projections are for growth to
average 6.5 percent per annum over the next three years; the government
hopes it will move into double digit GDP growth thereafter. (Cote
d'Ivoire had growth rates in this range during its boom years in the
60's and 70's.) Inflation is forecast to decelerate to about 5 percent
by year-end 1995, with a return to the pre-devaluation inflation rates
of 3 percent per annum thereafter. The government also targets high
savings and investment rates over the medium term, and continued
progress on reducing overall fiscal deficits and the public debt
overhang.
The high rates of growth in the economy are predicated on continued
positive effects from increased competitivity, especially in food crop
production, and gains in non-traditional agriculture exports and
manufacturing. The coming on stream of recently discovered oil and
natural gas fields, and expectations regarding increases in private and
public investment programs, also contribute to the optimistic forecasts.
So, too, does the assumption that commodity prices on international
markets will remain firm. Public investment is considered by the
government to be a key element of its medium-term economic growth
policy. Over the longer range, Cote d'Ivoire plans to increase its
economic prospects via regional integration in the context of the West
Africa Economic and Monetary Union. This will involve, inter alia,
working with its partners on a common external tariff and preferential
inter-zone tariffs, and harmonization of indirect taxes, business laws
and practices.
It is important to bear in mind when considering these positive trends
that Cote d'Ivoire remains a country confronted by a vast array of
developmental problems and challenges. Progress on all these fronts
will depend on Cote d'Ivoire's pursuit of appropriate adjustment
policies, and on its continued access to large amounts of financial
assistance provided on highly concessional terms by multilateral and
bilateral donors.
Of note for U.S. businesses regarding the economic growth prospects
cited above, the stepped-up public investment program, the anticipated
increase in private investment, and the forecast recovery in domestic
economic activity all will generate a substantial increase in the demand
for imported goods and services in Cote d'Ivoire over the medium term.
There also will be opportunities for foreign investment in key sectors
of the economy in the future.
2. Principal Growth Sectors
The agriculture sector accounts for one-third of Cote d'Ivoire's GDP,
and provides two-thirds of its export revenues. Almost 70 percent of
the Ivorian people are engaged in some form of agricultural activity.
During the country's first 33 years of independence under President
Felix Houphouet-Boigny, development priorities principally centered
around agriculture, and endeavors to promote agriculture, combined with
Cote d'Ivoire's natural endowments, led to a relatively solid,
agriculturally-based economy. Due to of the sector's preponderance in
the Ivorian economy, and because of its favorable responses to recent
structural and price changes affecting it, agriculture (and agro-
industry) will remain the major source of growth in Cote d'Ivoire's new,
post-devaluation economic environment.
During 1994, however, as President Henri Konan Bedie and his government
began to frame their own economic policies and priorities, there
occurred a shift in emphasis to productive sectors of the economy beyond
agriculture. Thus a second area of current government focus -- one
which provides greatly expanded prospects for growth -- regards
development of Cote d'Ivoire's untapped mineral wealth. Available
evidence points to significant deposits of oil, gas, gold, nickel, and
other minerals. Some exploitation of hydrocarbons and minerals had
occurred in the past, but the country's priorities remained fixed on
agriculture. Now, a new policy and regulatory framework is being
developed in order to promote growth in mining activities, and to
further develop the country's offshore hydrocarbon resources. There are
some who predict that minerals and hydrocarbons can some day rival
agriculture in importance as a percentage of Cote d'Ivoire's gross
domestic product.
The year 1995 saw some notable successes in the extractive industries
sector. A U.S.-led consortium developed its offshore discovery of oil
and gas, and brought on stream its first crude oil in April. The Lion
field began producing at a rate of 10,000 barrels per day, a rate that
will more than double by year-end 1995. Cote d'Ivoire will at that time
be self-sufficient in oil, and will begin an era as a minor oil exporter
as well. The U.S.-led group will also bring natural gas from its
Panthere field on stream in October, 1995, providing inexpensive and
clean fuel (via pipeline) to Abidjan's principal thermal generating
plant. American and other international companies are engaged in other
exploration and development activities offshore, and activity in the
sector is sure to grow. Mining is also a growth prospect.
American/Canadian and Ivorian/French ventures are producing gold in
increasingly significant quantities. A Canadian firm also has moved
toward early development of a significant nickel deposit in the western
part of the country. Prospecting for other minerals has been stepped-
up. All of these activities, in themselves and because of the
infrastructure investments they will require, will be significant
generators of growth in the future.
Other areas in which growth will occur, directly and indirectly over the
near and medium term, include telecommunications, energy, transportation
services, and financial services. A U.S. firm has already provided
enhanced communications satellite services. Cote d'Ivoire also will be
entering the cellular phone age in the near future. Privatization of
the state-owned telecommunications monopoly will generate spin-off
growth and consequent opportunities for foreign firms. As Cote d'Ivoire
expands its electricity network, growth will occur in the power
generating and power transmission sectors. Exports of electrical power
will also contribute significantly to the balance of payments. The new
competitiveness in the economy should add to Abidjan's attractiveness as
a regional center for foreign businesses operating in the area; there is
evidence of an increased interest on the part of major multinationals in
relocating their regional management and/or support operations in
Abidjan. Cote d'Ivoire's nascent stock market (the Bourse de Valuer
d'Abidjan or BVA) is growing, especially as it trades shares in some of
the country's newly-privatized enterprises. The stock market hopes to
expand its operations to cover more of the West African region in the
next year or two. Cote d'Ivoire remains the most important
transportation and banking center in the region, and growth will pick up
in these sectors as the economy expands.
3. Government Role in the Economy
At the time of its independence, Cote d'Ivoire chose deliberately to
maintain close commercial ties with France, the former colonial power,
and to promote the export of cash crops, produced by the private sector
planters but supported heavily by government. Although Cote d'Ivoire
prided itself on its liberal approach to economic development, the
government was deeply involved in almost every facet of the economy.
The country built up a major parastatal sector, important vestiges of
which remain in place today. In many respects, the system is based on
French dirigiste traditions, which remain strong in Cote d'Ivoire today.
In the beginning, the level of government involvement in the economy
probably contributed to some of Cote d'Ivoire's success, particularly in
providing support to rural populations ill-prepared for the rough and
tumble environment of selling agriculture commodities into competitive
world markets. Over time, however, the burden of the civil
administration on productive activity grew, at a time when falling
prices made that burden harder to bear. Also, the complicated and
pervasive system of controls and quotas created a whole series of
incentives for avoiding the system which, in turn, lead to an escalating
level of corruption and fraud. The Ivorian government was slow to
recognize that it was not as liberal a market economy as it thought. It
had avoided the excesses of some other African countries but had not
kept pace with liberalizing competitors elsewhere in the developing
world (notably, Southeast Asia and Latin America). There are now signs
of change, however, as a new generation of Ivorians takes charge.
The IMF and World Bank are actively encouraging the government to adjust
outmoded structural and sectoral policies, many of them based on the
state's involvement in the economy. Development of the private sector
is at the heart of these reform efforts. The government intends to
continue its withdrawal from productive activities, simplify the
regulatory framework for the private sector, and improve the legal
environment affecting business establishments and the settlement of
private sector disputes. Progress in all these areas is key to the
attainment of targeted high growth rates, and in some cases, to the
continuation of assistance flows from the Bretton Woods institutions.
Regarding privatization in particular, the government announced an
ambitious program some five years ago. It identified about 66
enterprises, of which some 15 were privatized between 1991 and 1994.
After the national assembly re-considered and refined the program,
privatization gained momentum during late 1994. Seven enterprises were
privatized that year, with another 9 listed for sale. (The process of
divestiture for these latter enterprises is to be completed during
1995.) The government intends to put up for sale another 10 enterprises
in 1995, including some of the largest state-owned firms (e.g., palm oil
and sugar parastatals) the telecommunications company CI-TELCOM, and
perhaps the national maritime transport company. In addition to the
efficiency gains one expects to result from these privatizations, the
projected receipts from the sales are important components of 1995
government revenue projections.
4. Balance of Payments Situation
As commodity prices and the economy declined through the eighties, Cote
d'Ivoire's external accounts came to depend increasingly on the
continued generosity of official lenders (notably France, the IMF and
the World Bank) and on the accumulation of unpaid debt arrears. By the
early nineties, the total stock of government and government-guaranteed
debt had reached approximately double the amount of the gross domestic
product. Foreign debt, both that owed to official and to private
creditors, remains a dark cloud hanging over Cote d'Ivoire's balance of
payments situation.
Under other circumstances, Cote d'Ivoire's balance of payments and debt
record might suggest a grave problem of convertibility and availability
of foreign exchange. However, Cote d'Ivoire belongs to the West African
Economic and Monetary Union, whose currency, the CFA franc, is
guaranteed by the French Treasury to be convertible at a fixed rate
against the French franc. The French Treasury, in turn, requires strict
controls on the creation of new money (i.e., members cannot simply
monetize their deficits). Under these circumstances, a poor balance of
payments performance does not imply a convertibility risk for the CFA
franc; it does suggest, however, that the government might not have
sufficient local currency holdings with which to obtain the foreign
exchange it needs to honor its obligations.
Apart from the lingering problem of foreign debt, 1994 was actually a
year of significant improvement in Cote d'Ivoire's balance of payments
position. The country traditionally runs a trade surplus, but the
current account is historically in deficit. Last year, the contraction
of domestic demand and the positive response of output following the
devaluation led to a substantial strengthening of the trade account
balance: exports grew considerably; while imports (in value terms) were
up as well, the increase was less than anticipated. Thus, while
remaining negative, Cote d'Ivoire's traditional current account deficit
narrowed markedly from previous levels. There was also a substantial
turnaround in the capital account in 1994. Thus, according to the IMF,
Cote d'Ivoire's overall balance of payments registered its first surplus
in ten years.
Over the medium term, export and import substitution activities should
continue to benefit from the improved competitiveness of the Ivorian
economy. Increased growth, however, will prompt an increase in demand
for imported goods. The IMF projects that the current account deficit
will widen again from it sharply improved position in 1994.
Developments in the capital account will continue to reflect Cote
d'Ivoire's progress in regularizing its external debt situation
(including the effects of reschedulings and debt forgiveness) and on the
volume of official assistance flows. The overall balance of payments is
likely to return to its traditional deficit position in 1995, and remain
there over the medium term.
5. Infrastructure
By developing country standards, Cote d'Ivoire has an outstanding
infrastructure. There is an excellent network of over 8,000 miles of
paved roads; good telecommunications services, including a public data
communications network already and cellular phones on the horizon; two
active ports, one of which, Abidjan, is the most modern in West Africa;
rail links, both within the country and to Burkina Faso; regular air
service within the region and to and from Europe; and modern real-estate
developments for commercial, industrial, retail and residential use.
Cote d'Ivoire's location and easy, reliable connections to neighboring
countries makes it an excellent platform from which to conduct West
African operations. The city of Abidjan is one of the most modern and
liveable cities in the region. Its school system is excellent and
includes a highly-rated international school based on a U.S. curriculum
and several excellent French-based schools.
While in recent years, Cote d'Ivoire's public investment program had
dwindled significantly, the government is working with multilateral
donors to reverse the trend. The government's new public investment
plan will accord priority to investment in human capital, but it will
also provide for significant spending on economic infrastructure needed
to sustain growth. Continued infrastructure development is also
expected to occur because of private sector activity. In the new
environment of government disengagement from productive activities and
in the wake of recent privatizations, anticipated investments in the
petroleum, electricity, water, and telecommunications sectors, and in
part in the transportation sector, will be financed without any direct
government intervention.
II. POLITICAL ENVIRONMENT
1. Overview
Cote d'Ivoire is a stable, multiparty democracy which achieved
independence from France in 1960. Relations with the United States have
traditionally been excellent, and the bilateral relationship has been
largely free from conflict since independence. Thanks to the strength
of its economy in the first 20 years of independence, its moderate
foreign policy, and the stature of its first president, Felix Houphouet-
Boigny, Cote d'Ivoire has played an important role in the West African
region. Cote d'Ivoire's relationship with France remains extremely
close, as evidenced by the strong French presence including a sizable
military base and some 18,000 French expatriates. Cote d'Ivoire's
government consists of a strong executive branch and relatively weak
legislative and judicial branches.
2. The Houphouet Years
From independence until 1993, the country was ruled by a single
president, Felix Houphouet-Boigny. During the period of strong economic
growth in the 60's and 70's Houphouet ruled unopposed and his Democratic
Party of Cote d'Ivoire (PDCI) was the sole permitted party in the
country. In the 1980's, opposition to the regime grew as the Ivorian
economy faltered.
Over the last four years, Cote d'Ivoire has undergone a reasonably
balanced transition to multiparty democracy. In 1990, Houphouet
liberalized the political system and called for multiparty elections.
Several dozen parties formed following the announcement, including the
Ivorian Front (FPI). It became the largest opposition party at the
time and fielded the opposition candidate for president. The opposition
won 11 seats in the National Assembly out of a possible 175, and the
President was reelected. Despite some concerns, the final results were
accepted by all participating political parties.
3. The New Government and the 1995 Elections
In 1993, Houphouet died and was replaced by his constitutional
successor, National Assembly President Henri Konan Bedie. The
constitution calls for Bedie to serve out the rest of Houphouet's term,
which ends in October 1995. Preparations are currently underway for
presidential, legislative, and municipal elections which will take place
in late 1995. There has been some tension between the government and
the opposition, most recently over the new electoral code and freedom of
the press. However, voter registration and other preparations for the
elections are continuing peaceably.
The ruling party, the PDCI, is a centrist party without strong
ideological identification. The opposition FPI, is a moderate
"socialist" party more concerned with political issues than with radical
economic change. In September 1994, the government legalized the
existence of the Rally of Republicans (RDR), which quickly emerged as a
major opposition party. The RDR has attracted former members of the
majority PDCI's reformist wing and is particularly strong in Cote
d'Ivoire's northern cities. The Ivorian Workers' Party, which has one
deputy in the National Assembly, is more left-leaning. Few of the 80 or
so other Ivorian parties have made much of an impact on the Ivorian
political scene. The FPI, RDR and an alliance of five smaller parties
formed the Republican Front in March 1995 to present a common candidate
in the presidential race and to divide candidacies among the allied
parties in the legislative and municipal candidates.
IV. MARKETING U.S. PRODUCTS AND SERVICES
1. Distribution and Sales Channels
In Cote d'Ivoire, there are seven major population centers: Abidjan
(2.5 million), Bouake (494,000), Daloa (182,000), Man (134,000), San
Pedro (80,000) the second seaport, Korhogo (164,000) and Yamoussoukro
(160,000). Many banks, insurance companies, wholesale distributors and
one supermarket chain maintain branch operations in these centers. Air
Ivoire, the national airline, services these cities on a regular basis
and they are connected by a very good quality road network.
The principal methods of selling are: retail outlets (either in the
local market or an established chain), a direct sales force, an agent or
distributor, selling through established wholesalers or dealers, and
selling directly to the government, cooperatives and other indigenous
organizations. The common forms of business organizations adopted in
Cote d'Ivoire are discussed in Section 6 below. It would be wise for
the exporter to consider the requirements of the product and its
potential market before choosing a distribution channel.
2. Use of Agents/Distributors; Finding a Partner
There are no laws requiring the retention of a local agent or
distributor for a foreign company exporting to the Cote d'Ivoire.
However, it is advisable that a company attempting to break into the
market retain a person or persons resident in Cote d'Ivoire. An agent
or distributor should possess a thorough understanding of the economy
and be fluent in French. If the exported product requires servicing,
qualified personnel and a reasonable inventory of spare parts must be
considered. Exporters should be aware that agents and distributors
commonly represent several product lines. European competitors
inevitably market their geographic proximity as a competitive advantage;
they are often able to provide a technician or part on short notice.
Failure to adequately address the issue of after sales support and
service has limited U.S. marketing success in Cote d'Ivoire.
Prior to committing to a long-term relationship, exporters are advised
to visit Cote d'Ivoire to gain firsthand knowledge of the country. The
Commercial Service can help exporters locate agents and distributors
through the Agent Distributor Service (ADS) program. Information
regarding this program is available through the Commercial Service
district offices located in all 50 states and Washington, DC. The cost
of a report is USD 250.
3. Franchising
Franchising is an area that has not been developed in Cote d'Ivoire.
4. Direct Marketing: Wholesalers and Retailers
Many of the goods sold in the Cote d'Ivoire pass through wholesale
organizations, some of which are oligopolies. Examples include: alcohol
and tobacco products, pharmaceuticals, and wheat and flour. Wholesale
establishments and modern retail outlets are concentrated in Abidjan.
These include the company headquarters, branch banking and insurance
operations, supermarkets, car dealerships and specialty stores. Both
within and outside of Abidjan, most of the small-scale retail outlets
are individual proprietorship operations that lack specialization. The
"general store" concept, stocked with a wide variety of goods, is
generally used outside of Abidjan. The local Lebanese community to a
large extent controls importation, wholesale distribution and medium and
large scale retail outlets.
5. Joint Ventures/Licensing
See Section 6 below.
6. Steps to Establishing an Office
Among the goals of the newly created Ivorian Investment Promotion Center
(CEPICI) is to guide an entrepreneur through the local business
registration process including handling the formalities to register,
incorporate, modify or dissolve a local company. The CEPICI was
inaugurated in February 1995 as a one-stop shop for economic, commercial
and investment information for entrepreneurs interested in starting a
business or investing in Cote d'Ivoire. The Center's mission is two-
fold: to promote investment in Cote d'Ivoire and to facilitate and
highlight any economic activity likely to contribute to the development
of Cote d'Ivoire. The CEPICI utilizes databases, documentation, formal
presentations, investment missions and basic counseling services to
realize its activities. The CEPICI also monitors Cote d'Ivoire's
program of scheduled privatizations.
Prior to establishing a business entity in Cote d'Ivoire, it is
advisable to consult a local attorney. There are four common forms
adopted by businesses in Cote d'Ivoire. In any of these forms, the non-
Ivorian may hold 51 percent or more of the company's assets. Exceptions
to a non-Ivorian holding occur on an ad hoc basis and are usually
mandated by government decree. The four common forms adopted by
businesses in Cote d'Ivoire are:
Joint Venture (Association et Participation): Joint ventures are
allowed in Cote d'Ivoire and the joint venture may take any of the forms
listed below.
Branch of a Foreign Company (Succursale): Branches of foreign companies
may not be established until they are registered with the Tribunal de
Premiere Instance. Once registered, the branch is regarded as an
Ivorian judicial entity and is legally independent of the parent
company.
Limited Liability Company (Societe A Responsabilite Limite - SARL): All
SARLs must have a minimum capital of approximately USD 900 (CFA/F
500,000) and at least two shareholders. No share certificates are
issued.
Stock Corporations (Societe Anonyme - SA): In order for a corporation to
be formed, it must have at least seven shareholders. Each share must
have a value of at least approximately USD 10 (CFA/F 5,000) and a
minimum capital requirement of approximately USD 2,000 (CFA/F 1
million). Directors' meetings are required on a regular basis. If a
corporation has share capital below approximately USD 4.5 million (CFA/F
2.5 billion), there is a stock registration tax of one percent of the
value of the stock for the company. For corporations with capital
valued above CFA/F 2.5 billion, the registration tax is less than one
percent.
Other business forms include regional offices, sole proprietorships,
local agency or distributorship arrangements, and various entities which
are analogous to limited and general partnerships and state-owned or
partially government-owned companies.
All business entities must register with the Commercial Registry within
30 days of commencement of activity. If the SARL or SA is the chosen
form, the following must be filed with the Commercial Registry: a copy
of the company by-laws, the minutes authorizing the establishment of the
company (SA form only), and the name of the manager (SARL) or director
(SA). Companies must submit an annual balance sheet and profit and loss
accounts to the Ministry of Economy and Finance. Other periodic filings
are required as is publication of specific information in the local
press.
Business entities must file a Declaration of Commencement of Business
with the Tax Department of the Ministry of Finance and the Economy, the
Labor Department and the National Social Security Fund. If the entity
contemplates the importation or exportation of goods or materials, it
must register as an importer or exporter with the Department of External
Trade of the Ministry of Commerce and Industry.
The prior permission of the Office of External Credit and Finance of the
Ministry of Finance and the Economy must be obtained for all equity
investments and loans which originate from a country outside the CFA
franc zone. Approval is routinely granted, generally within a few
weeks.
7. Selling Factors/Techniques
Cote d'Ivoire maintains strong historical, cultural and economic links
with France and Europe in general. The Ivorian attitude toward
conducting business with U.S. firms is best described as tentative,
mostly due to language and cultural barriers. It is critical,
therefore, that U.S. companies establish and maintain a high level of
personal contact within Cote d'Ivoire; it is generally not possible to
mount a successful enterprise via telephone or fax contact alone. Yet
despite a differing business style, Ivorians appreciate the role the
U.S. plays in world affairs, welcome U.S. products and wish to encourage
U.S. investment in Cote d'Ivoire. There is a clear desire, however, for
business to be conducted with Ivorian partnership in mind, as there is
still some residual suspicion of large foreign businesses which is
rooted in the excesses of the colonial and neo-colonial past.
Increasingly, young Ivorians are considering a U.S. university education
versus a European one. Exposure of the future work force to U.S.
culture, business and English will help to further U.S. business
interests in the near term.
Ivorian values are more traditional than those of Americans. This
tendency extends to business dealings as well. People are extremely
polite; it is customary to greet everyone you meet. Even a long term
partner or business contact is usually greeted with an exchange of
pleasantries, followed by a handshake and inquiries about one's health,
family and relatives. While coming to the point directly is admired in
American culture, Ivorians, tend to be more laid back and patient and in
fact may find the aggressive "American style" disturbing. Ivorians
prefer regular, face-to-face contact; in fact, personal visits are
warmly welcomed. While visits may not be the most efficient or
inexpensive method, it is generally regarded as the most effective
method of handling new trade initiatives. For Ivorians, trust in a
business relationship is paramount and cannot be achieved sight unseen.
The cornerstone of a successful business relationship is to adapt to a
pace of business and life that is more moderate than in the U.S.
The Lebanese community plays an important role in Ivorian business.
They are receptive to U.S. products and company representatives and are
generally more conversant in English. However, French is still their
preferred language for business transactions.
8. Advertising/Trade Promotion
There are over 10 advertising agencies with headquarters in Abidjan
offering a full range of publicity and sales promotion services
throughout the country. Two agencies, Lintas and Nelson McCann Erikson
are affiliates of American multinational the Interpublic Group of
Companies. Lintas also has offices in 20 African nations. Several
agencies offer marketing research and video production services as well.
There over 18 regular daily and weekly news publications circulating in
Cote d'Ivoire. The most widely read daily paper is "Fraternite Matin"
which is controlled by the Ivorian government. "Fraternite Matin" also
publishes "Le Guido", a weekly glossy publication highlighting events
around Abidjan, television and cinema schedules, airline schedules, and
interviews with people of note. "Abidjan Sept Jours" is another
publication similar to "Le Guido". Although precise figures are
impossible to produce, "La Voie", "Le Jour" and "Soir Info" have roughly
the same circulations and battle for second place behind the "Fraternite
Matin." Ivorians own more than 3 million television sets and 7 million
radios and are accustomed to consumer oriented commercials and
advertising and public service announcements. Contact information for
Ivorian media (print, radio and TV) is listed in the Appendix E: Section
2
Suppliers of imported products are expected to provide advertising and
promotional support, particularly if it is a new product or brand.
Radio and television spots are commonly used as are posters, point of
sale displays, coupons, and billboards. Short films run at local
cinemas and are another popular medium for automobile and tobacco
products. Trade fairs are sporadic but nevertheless a popular means of
reaching the Ivorian buyer. The Foire International d'Abidjan (FIA '96)
will take place March 8-20, 1996 at the Golf Hotel in Abidjan and is the
largest trade fair in Cote d'Ivoire. Packaging is important to the
Ivorian consumer. Eye-catching, colorful designs, blister packs and
small, reusable containers appeal to the consumer. Extended shelf life
in a humid environment is also an important requirements.
9. Product Pricing and Credit
If U.S. exporters can price in French francs, especially for deliveries
over a six to 12 month period, this will help them in penetrating the
market. Costs should be computed on a c.i.f. basis.
Local sources of commercial credit are extremely limited; therefore, the
liberal credit terms usually offered by the competition may in fact
outweigh a considerable price differential. Nevertheless, U.S.
exporters are advised to utilize an irrevocable, confirmed letter of
credit, especially if they are non-resident and new to the Ivorian
market. Foreign competition often grants credits of 180 days for
consumer goods and 24 months for small machinery and equipment.
European banks often quote liberal terms and may discount paper for
their exporters who are pursuing long-term credits.
The Commercial Service can help exporters formulate sound credit
policies applicable to local markets and credit information on
individual Ivorian firms through the World Traders Data Reports (WTDR)
program. Information regarding this program is available through the
Commercial Service district offices located in all 50 states and
Washington, DC. The cost of one report is USD 250. Similar information
is also available from private agencies.
10. Sales Service/Customer Support
After-sales support and service has been a principal reason for limited
U.S. marketing success in Cote d'Ivoire. It is especially critical for
high-tech or heavy industrial equipment such as: computer hardware and
software, telecommunications equipment, photocopiers, automobiles, and
air conditioning/refrigeration units. A central service telephone
number and radio-dispatched technicians are commonly used by local
firms. French-language service manuals, frequent personnel training and
a reasonable inventory of spare parts are also very important.
11. Selling to the Government
The Ivorian Government periodically issues procurement tenders that are
published in local newspapers and sometimes in international journals.
The tender board is usually the responsible ministry making the request.
Recently, the Direction et Controle des Grands Travaux (DCGTX) has acted
as a "super ministry" on behalf of other ministries for World Bank and
the African Development Bank (AfDB) financed projects. The procurement
is typically financed by a multilateral lending institution such as the
World Bank, the African Development Bank or the International Finance
Corporation. There is usually a charge to purchase the bid documents
which are normally in French.
12. Protecting Your Product from Intellectual Property Rights
Infringement
Intellectual property rights in Cote d'Ivoire are governed by the Bangui
Treaty of March 2, 1977 which provides for a regional system for the
protection of intellectual property rights in the predominantly French-
speaking countries of West and Central Africa. The Bangui Treaty of
March 2, 1977 extended the protection of the Libreville Treaty of
September 13, 1962, which had created a regional regime in the domain of
industrial property rights for the former French colonies, to all
industrial property rights including, patents, trademarks, industrial
designs and models, commercial names, licenses, captions, unfair
competition. This autonomous regime affords these countries the ability
to manage the creation, individualization and development of their
products both internally as well as internationally.
The African Organization for Intellectual Property ("OAPI") is the
regional institution which handles all matters, other than judicial
proceedings, arising out of or in connection with the application or
interpretation of the Bangui Treaty. Judicial actions are to be brought
in the national courts of the member countries pursuant to the terms and
conditions of the Bangui Treaty. All rights to industrial property are
filed with OAPI, whose headquarters are located in Yaounde, Republic of
Cameroon. Each of the member countries have local offices which, in
theory, are capable of receiving filings of registrations, which are
then valid for the entire region.
The member countries of OAPI are Benin, Burkina Faso, Cameroon, the
Central African Republic, Chad, Congo, Cote d'Ivoire, Gabon, Guinea,
Mali, Mauritania, Niger, Senegal and Togo.
13. Need for a Local Attorney
It is advisable to consult a local attorney to ensure that the company
is following all the appropriate laws and procedures with regards to
employment and other matters.
As a result of its colonial past, the Ivorian legal system originates
directly from the French system. Pursuant to article 76 of the Ivorian
Constitution, enacted by Law No. 60-204 of November 3, 1960, all
legislation in effect in Cote d'Ivoire during the colonial period
remained in effect in the new republic to the extent that it was not
inconsistent with the provisions of the Constitution. Nevertheless, if
there has been subsequent legislation passed in Cote d'Ivoire, then the
French law in question is no longer applicable. French doctrine
(treaties, legal articles, books) is instructive and informative on
general principles of law and is often used as a reference to determine
points of Ivorian law.
All official documents, papers, contracts, court papers, corporate
documents, among other things, must be in the French language. It
should be noted that Cote d'Ivoire has numerous local languages.
The labor laws in force in Cote d'Ivoire are considerably more
burdensome than those that an American employer may be accustomed to
practicing in the United States. For example, expatriate labor
contracts as well as all fixed term contracts must be registered with
the labor authorities and approved before such employees can be hired.
In addition, all employees accrue during the time with the company in
question, certain statutory benefits and entitlements which may not be
waived by contract. The Ivorian courts have historically been viewed as
favoring the employee in labor disputes. Recent decisions, however,
have demonstrated a retreat from harsh judgments against the employer.
While there have been some changes in the legislation, such as the
recently established right of a married woman to carry on a commercial
operation without the approval of her husband, the commercial and
corporate laws of Cote d'Ivoire are for the most part those that were in
force in France prior to independence in 1960. Establishing a presence
in Cote d'Ivoire for an American company is generally a more costly and
involved procedure than that of the United States. In addition, the law
requires a business to provide certain corporate information on all its
papers, letterhead, invoices, etc. Again, consult a local attorney with
regards to these matters.
V. LEADING SECTORS FOR U.S. EXPORTS AND INVESTMENT
1. Best Prospects for Non-Agricultural Goods and Services
1 - Machines/Mechanical Apparatus/Engines: Air Conditioning and
Refrigeration Equipment Computer Equipment and Peripherals and Food
Processing Equipment
2 - Automobiles/Mining and Agricultural Equipment
3 - Pharmaceutical products
4 - Telecommunications Equipment
5 - Paper and Paper Board
6 - Plastic materials and Resins
7 - Agricultural Chemicals
8 - Oil and Gas Field Services
Non-Agricultural Goods and Services Best Prospects - Ranked by market
size
The estimates below were derived from Customs Bureau statistics. Due to
irregularities in these statistics, the Embassy believes that some
markets should be increased by as much as thirty percent in order to
reflect the flow of goods more accurately. Also, the figures for U.S.
imports do not accurately reflect the goods that are transhipped with
little or no value added via European intermediaries namely France, the
Netherlands and Belgium. Affected sectors include: agricultural
equipment, pharmaceutical products and computers. Customs statistics
are available through 1993.
Due to the anomalies of the existing Customs reporting system, several
best prospects were combined under the Ivorian categorization scheme.
They are reported as such below. The Customs statistics follow the
Harmonized System; statistics recorded by the Ministry of Commerce do
not.
In 1994, the Ivorian import market was estimated to be USD 1.9 billion.
France was the largest supplier (31 percent), followed by Nigeria (16
percent) and the US (7 percent). If the imports from Nigeria were
excluded (99 percent crude oil destined for refining and reexport via
the Ivorian refinery), the US would be Cote d'Ivoire's second largest
supplier. Principal U.S. exports included: agricultural commodities,
telecommunications equipment, plastic resins and paper and paper board.
The market is expected to grow at the same rate as the GDP rate during
the next 2 years namely 1995 (6.4 percent) and 1996 (6.5 percent). The
exchange rate used throughout was 500 CFA/F = 1 USD.
Due to the devaluation of the CFA/F, countries whose exporters invoiced
in US dollars showed the largest increase over the previous years'
statistics versus countries billing in yen or strong European
currencies. This upward trend is expected to continue during 1995.
1 - Machines/Mechanical Apparatus: Computer Equipment and Peripherals,
Air Conditioning/Refrigeration Equipment and Food Processing Equipment
(CPT, ACR, FPP)
(USD millions) 1994E 1995E 1996E
A. Total Market size 109 116 124
B. Total Local Production 0 0 0
C. Total Exports 15 16 17
D. Total Imports 124 132 141
E. Imports from the U.S. 6 7 8
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: Driven by the increasing use of computers in many business and
government parastatals, the computers and peripherals market continues
to grow rapidly. Over the last ten years, public and private enterprise
have invested in information systems as a means of improving operating
efficiency and accuracy. Leading brands are American, French, Italian
and Japanese. Several foreign manufacturers have established offices or
have agents or distributors to represent them. American computers have
high brand recognition and are noted for their reliability and leading
edge technology. Much of the U.S. equipment is transshipped through
French subsidiaries. A local firm plans to establish a PC manufacturing
facility in late 1996.
Over the last two years, new housing starts have increased, and the need
for refrigeration and air-conditioning has increased as well. The
fishing industry and agro-industries also have been major end users of
cold storage facilities and air-conditioning equipment.
The agricultural commodities export sector increased substantially in
the post-devaluation period. Highly correlated with this sector is the
food processing and packaging sector. For example, fruit juices and
vegetables are now being processed for local consumption; products such
as dried bananas, dried peanuts, and ginger juice or syrups are
processed and marketed locally on a traditional, small-scale basis.
Critical success factors include: price, quality, European standards,
after sales service and availability of spare parts. For canning
operations, the cost of tin plate makes this type of operation costly
vis-a-vis other African and Asian competitors. Swiss, Italian, German
and French equipment is commonly used. U.S. market share in this sector
is negligible and is therefore not counted in the "U.S. imports" figure
above. Labor rates, higher than other African nations, may also
adversely impact profitability of local operations. See Best Prospect
#6 - Paper and Paperboard.
Market share: France (54 percent) computers, engines, food processing
equipment, Italy (9 percent) food processing equipment, Belgium (5
percent) engines, and the U.S. (3 percent) computer and air conditioning
equipment. The figures for U.S. exports are understated as a U.S. heavy
equipment manufacturer ships engines and spare parts via a Belgian
subsidiary and several computer manufacturers ship product via France.
2 - Automobiles/Agricultural and Mining Equipment (AUT, AGM, MIN)
(USD million) 1994E 1995E 1996E
D) Total Market size 107 114 122
E) Total Local Production 0 0 0
F) Total Exports 8 8 9
G) Total Imports 115 122 131
H) Imports from the U.S. 6 6 7
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: Both Chrysler and General Motors established dealerships in
Abidjan in 1994/95. France and Japan are the clear automotive market
leaders however consumers are showing a preference for other brands such
as Hundyai and the Jeep Cherokee. Increased mining and agricultural
activity should increase demand for large vehicles as well. Cars
powered by natural gas would sell extremely well in this market.
Agriculture is the predominant economic activity in Cote d'Ivoire.
Privatization plans for this sector include parastatals which likely
increase the demand for agricultural equipment.
Extractive industries (mining and oil and gas exploration) are
increasing in importance to the Ivorian government. Besides the two
current mining projects (AFEMA with OPIC as a partner, and Mines d'Or
d'Ity with a French partner) and the UMIC oil and gas project, there are
2 other oil and gas projects and several mining projects (gold and
nickel) presently under consideration. The government has revised the
mining code to favor investment and tax incentives for potential foreign
investors. This sector promises significant future growth.
Market share: France (32 percent) cars and tractors, Japan (31 percent)
cars only, Germany (7 percent) cars and tractors and the U.S. (7
percent) tractors. The figures for U.S. exports are understated as two
agricultural equipment manufacturers ship vehicles and spare parts via
French and German subsidiaries.
3 - Drug/Pharmaceuticals including Generic Drugs and Molecules (DRG)
(USD million) 1994E 1995E 1996E
A. Total Market size 91 97 104
B. Total Local Production 12 13 14
C. Total Exports 2 2 3
D. Total Imports 82 87 92
E. Imports from the U.S. 50 53 57
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: Due to the CFA/F devaluation and despite unresolved liability
issues, Cote d'Ivoire has moved to substitute brand name products with
generic ones. There is a significant opportunity for U.S. suppliers of
generic and brand name products to ship directly to Cote d'Ivoire.
Approximately 4,000 products are sold in the country, chiefly
antibiotics, painkillers and anti-parasitic drugs. Imports account for
approximately 85 percent of the market and about 15 percent of the
products are manufactured by a local manufacturer, CIPHARM. Leading
brand names include: Merck, Pfizer, Merrill Dow, Bristol Myers, Eli
Lilly, Jaussen, Glaxo, Beecham and Rorer.
Market share: France (95 percent); the remaining 5 percent of the
imported products originate from other African countries including
Senegal, Morocco and Nigeria. The U.S. imports are estimated to exceed
50 percent of the import market as U.S. companies deliver via their
French subsidiaries.
4 - Telecommunications Equipment and Services (TEL)
(USD million) 1994E 1995E 1996E
A. Total Market size 63 67 72
B. Total Local Production 0 0 0
C. Total Exports 11 12 13
D. Total Imports 75 79 86
E. Imports from the U.S. 6 7 8
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: The Ivorian government will privatize the state-owned
telecommunications company either in late 1995 or early 1996. The
equipment market is dominated by the French (France Telecom) and is one
of the most efficient and equipped in West and Central Africa.
Recently, new non-French technologies have begun to appear despite
French influence in major purchasing decisions. U.S. companies have
introduced their technologies during the last three years in the areas
of customer premise equipment and long distance services. The
potentially lucrative cellular franchise is being actively pursued by
Canadian, French and two U.S. firms.
Market share: France (62 percent), Hong Kong (6 percent) and Switzerland
(4 percent). There is some transshipment of U.S. products in this
sector.
5 - Paper and Paper Board (PAP)
(USD million) 1994E 1995E 1996E
A. Total Market size 38 41 43
B. Total Local Production 0 0 0
C. Total Exports 17 18 20
D. Total Imports 55 59 63
E. Imports from the U.S. 9 9 10
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: Several industries remain active end-users of paper and paper
board including the housing industry for cement bags, the food industry
for food packaging, and the printing industry for newspapers and
stationery. Other end-users include distributors of paper for
photocopiers, fax machines, calculators, point of sale systems and
producers of toilet paper. Increased agricultural export activities has
increased the need for packaging paper; likewise, the demand for
newsprint for newspapers and magazines has grown due to an increase in
the number of papers and magazines in the country.
Market share: France (23 percent), U.S. (17 percent) and Finland (12
percent). There is little transshipment in this sector.
6 - Plastic Materials/Resins (PMR)
(USD million) 1994E 1995E 1996E
A. Total Market size 22 23 25
B. Total Local Production 0 0 0
C. Total Exports 58 61 66
D. Total Imports 80 84 91
E. Imports from the U.S. 11 12 13
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: Imports consist of primarily PVC, polyethylene, hard density
polyethylene, polypropylene and resins. These products are used by
local manufacturers to make plastic consumer products, plastic bags, and
containers for the food processing industry. See Best Prospect #1 and
#2. Growth in this sector is expected to follow the growth in
population (3.8 percent) and growth in the food processing and
agricultural commodities export sectors.
Market share: France (27 percent) Belgium (22 percent) and the U.S. (15
percent). There is little transshipment in this sector.
7 - Agricultural Chemicals (AGC)
(USD million) 1994E 1995E 1996E
A. Total Market size 9 10 11
B. Total Local Prod'tion 0 0 0
C. Total Exports 26 28 30
D. Total Imports 35 38 40
E. Imports from the U.S. 9 10 11
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: See Best Prospect #2 - Agricultural Equipment. Farmers and
companies involved in agro-industries are the main end-users. The need
for high productivity and low-cost production drives the demand for
agricultural chemicals.
Market share: U.S. (25 percent), Russia (22 percent) and Senegal (14
percent). There is little transshipment in this sector.
8 - Oil and Gas Field Services (OGM)
(USD million) 1994E 1995E 1996E
A. Total Market size N/A N/A N/A
B. Total Local Prod'tion N/A N/A N/A
C. Total Exports N/A N/A N/A
D. Total Imports N/A N/A N/A
E. Imports from the U.S. N/A N/A N/A
Comments: See Best Prospect #2 - Extractive Equipment. The recent
UMIC discovery of oil and gas and the implementation of the Bouygues
(French) - Apache FoxTrot project has increased the market for oil and
gas field services. There will be increasing demand for services
related to exploration such as crews to operate a rig, crews to build
pipelines, rig and other equipment rental etc. Other exploration
activities expected to commence in 1995 will also contribute to market
development.
2. Best Prospects for Agricultural Products
Rice
Wheat
Whole and Lowfat Milk Powder
Wine and other Alcoholic Beverages
Frozen Mackerel
Agricultural Best Prospects
Name of Sector: Rice
PS&D Commodity Heading: Rice, Milled (0422110)
1993/94 1994/95 1995/96
A) Total Market Size 710 TMT 720 TMT 740 TMT
B) Local Production 387 TMT 390 TMT 420 TMT
C) Total Exports 0 0 0
D) Total Imports 210 TMT 310 TMT 320 TMT
E) Imports from U.S. 95 TMT 120 TMT 100 TMT
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: Rice is the urban staple in Cote d'Ivoire. The Ivorian
government liberalized imports of deluxe (less than 20 percent brokens)
and brown (decorticated) rice in August 1994 and January 1995,
respectively. The State rice importer, which handled imports of
ordinary (20-35 percent brokens) rice, was dissolved in April 1995.
Private importers are being licensed to import ordinary rice. While the
government maintains official price controls on ordinary rice, actual
market price exceed the official price. Importing all types of rice has
become extremely lucrative as prices are as much as double the world
market price due to shortages of ordinary rice on the local market. The
U.S. is especially competitive in brown rice, medium quality (10-20
percent brokens) milled rice, and bagged deluxe rice. The main
competitors are Burma, China, Thailand, and Vietnam, especially for low
quality rice. The U.S. is generally not competitive in 35 percent
brokens rice and, therefore, mainly competes in the brown rice and
medium to deluxe quality markets.
Name of Sector: Wheat
PS&D Commodity Heading: Wheat (0410000)
1993/94 1994/95 1995/96
A) Total Market Size 210 TMT 210 TMT 220 TMT
B) Local Production 0 0 0
C) Total Exports 0 0 0
D) Total Imports 210 TMT 210 TMT 220 TMT
E) Imports from U.S. 13 TMT 50 TMT 50 TMT
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: Wheat and flour imports were liberalized in May 1995, ending
a monopoly by the local flour mill which is run by a multinational
company based in Europe with several mills in West Africa. However, due
to a government flour subsidy, which is being paid to the mill during
1995, flour imports will not be competitive with local production. High
protein U.S. wheat is imported for blending with lower protein French
soft wheat. The percentage of U.S. wheat used varies from 10 to 25
percent depending on relative costs. When wheat and flour imports are
truly liberalized, U.S. wheat and flour imports are expected to increase
as bakers generally prefer high protein flours for baking baguettes, an
urban staple food.
Name of Sector: Whole and Lowfat Milk Powder
PS&D Commodity Heading Dairy, Dry Milk (0224400)
1993/94 1994/95 1995/96
A) Total Market Size 15,000 MT 15,000 MT 15,000 MT
B) Local Production 0 0 0
C) Total Exports 0 0 0
D) Total Imports 15,000 MT 15,000 MT 15,000 MT
E) Imports from U.S. 400 MT 1,000 MT 1,000 MT
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: Cote d'Ivoire imports USD 50-60 million worth of dairy
products annually. The U.S. is most competitive in milk powder, a USD
30 million market, due to the Dairy Export Incentive Program subsidy.
Whole milk powder is used for both direct consumption and for local
manufacturing of UHT and condensed milk, yoghurt and ice cream. Lowfat
milk powder is mainly used in manufacturing. Packaging and labeling are
vital to success. Most milk powder is imported in 25 kg. bags. The
bags should be kraft paper with plastic linings. Dairy products must
have the expiration date printed on the package. In addition to milk
powder, Cote d'Ivoire imports concentrated milk, UHT milk and cream,
butter, cheese, and ice cream. Dairy product imports are dominated by
France and Netherlands, with other European Union countries and New
Zealand also taking significant shares.
Name of Sector Wine and other Alcoholic Beverages
PS&D Commodity Heading N/A
1993/94 1994/95 1995/96
A) Total Market Size 18,500 HL 19,000 HL 19,000 HL
B) Local Production 0 0 0
C) Total Exports 0 0 0
D) Total Imports 18,500 HL 19,000 HL 19,000 HL
E) Imports from U.S. 10 HL 20 HL 30 HL
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: These data do not include beer as this segment of the market
is dominated by local production of around 2 million hectoliters (HL)
while imports are only around 500 HL. Wine accounts for over 90 percent
of imports. As a former French colony, the French wine tradition is
firmly rooted in Cote d'Ivoire. Diversification in sources is, however,
beginning and offers a good window of opportunity for U.S. exporters.
Name of Sector: Frozen Mackerel
PS&D Commodity Heading: N/A
1993/94 1994/95 1995/96
A) Total Market Size 20,000 MT 20,000 MT 20,000 MT
B) Local Production 0 0 0
C) Total Exports 0 0 0
D) Total Imports 20,000 MT 20,000 MT 20,000 MT
E) Imports from U.S. 0 0 0
THE ABOVE STATISTICS ARE UNOFFICIAL ESTIMATES
Comments: As with most staple foods, mackerel imports are very price
sensitive. Imports of mackerel are mainly from Europe, in particular
the Netherlands, as well as from other African nations to the north.
The main price differential between U.S. and other sources appears to be
the cost of refrigerated shipping. The distances are not really that
different, but the lack of traffic creates a very high price structure
from the U.S. Cote d'Ivoire produces as well as imports a wide range of
fish products.
3. Significant Investment Opportunities
The privatization of enterprises owned by the Ivorian state began in
1990. Sixty-six companies were identified and seventeen companies were
privatized by June 1995. In addition to the two companies that were
privatized in 1995, ten additional companies have been identified for
sale in 1995. Given the past pace of completing these transactions, it
would be reasonable to expect four companies could be privatized by year
end.
In Cote d'Ivoire, three types of privatizations methods have been
utilized. The first is to grant management concessions for large
infrastructure operations with no responsibility for overhaul and upkeep
(electricity and water). The second type is to liquidate government
shares via the local stock market, the Bourse de Valeur d'Abidjan
(petroleum, manufacturing operations). Most recently, the Ivorian
government has favored consortium bids with a single or multiple Ivorian
investors and one or several foreign partners (rubber plantations,
railway).
Companies slated for privatization in 1995 include: CI-Telcom (telephone
company), SOTRA (bus company), SITRAM (maritime transport), CIDT (cotton
fiber complex), SIR (oil refinery), several state-owned hotels including
the Hotel Ivoire and SODESUCRE (sugar production and marketing).
Many state-owned enterprises are being restructured in response to a
spotty financial record among other problems. Therefore, prior to
making a commitment, investors are advised to visit Cote d'Ivoire to
gain firsthand knowledge of the country, the company in question and to
work closely with an Ivorian partner and a local attorney. Investors are
encouraged to contact the Ivorian Investment Promotion Center (CEPICI)
for further information.
THE GOVERNMENT OF THE UNITED STATES ACKNOWLEDGES THE CONTRIBUTION THAT
OUTWARD FOREIGN DIRECT INVESTMENT MAKES TO THE U.S. ECONOMY. U.S.
FOREIGN DIRECT INVESTMENT IS INCREASINGLY VIEWED AS A COMPLEMENT OR EVEN
A NECESSARY COMPONENT OF TRADE. FOR EXAMPLE, ROUGHLY 60 PERCENT OF U.S.
EXPORTS ARE SOLD BY AMERICAN FIRMS THAT HAVE OPERATIONS ABROAD.
RECOGNIZING THE BENEFITS THAT U.S. OUTWARD INVESTMENT BRINGS TO THE U.S.
ECONOMY, THE GOVERNMENT OF THE UNITED STATES UNDERTAKES INITIATIVES,
SUCH AS OVERSEAS PRIVATE INVESTMENT CORPORATION (OPIC) PROGRAMS,
INVESTMENT TREATY NEGOTIATIONS AND BUSINESS FACILITATION PROGRAMS, THAT
SUPPORT U.S. INVESTORS.
4. Operating Assumptions
The 1994 devaluation caused U.S. export sales to drop sharply, then
rebound to previous levels. With progress on structural adjustment and
market liberalization, the number and share of U.S. exporters is likely
to rise over time. Indeed the number of U.S. firms with branch or
affiliate type operations in Cote d'Ivoire increased from 42 to 53
between January 1994 to January 1995. U.S. investment should be
maintained at existing levels, with no further erosion and could
possibly increase in the next three years, particularly in the oil and
gas sector and telecommunications sectors.
In 1995, the CFA franc should remain convertible and will not be
devalued further. Ongoing measures taken by the Ivorian government will
continue to address budget gaps. Paris Club rescheduling (March 1994)
and significant debt forgiveness will allow Cote d'Ivoire to continue to
reduce its current account deficit. World Bank and other IFI assistance
through an ESAF and loans, have increased financial resources available
to the government and private sector. The prices of key export
commodities, i.e. cocoa, coffee, rubber and cotton, will continue their
recent strength during the coming year. The country will remain
politically stable without significant civil disturbances, although
business will probably slow down as the 1995 elections draw near.
VI. TRADE REGULATIONS AND STANDARDS
1. Trade Barriers, including Tariffs, Non-Tariff Barriers and Import
Taxes
Commercial Barriers
Traditional barriers to U.S. exports and investment include: (1) Lack of
U.S. interest due to the relatively small market size and stronger
attraction of other overseas markets; limited data; and perceived French
and European domination of the market due to French-based legal,
commercial, and financial systems; (2) Use of French language, business
practices, and technical standards; the cost of producing sales
collateral and packaging for the francophone region. (3) Higher freight
rates and longer transit times from the U.S. than from Europe. (4) More
favorable credit terms by European suppliers to local importers. (5)
High business costs relative to neighboring African countries such as
water, electricity, labor costs, port processing and customs duties. (6)
Uncertain legal protection, weak enforcement of contract provisions,
inadequate guarding of intellectual property rights, a corrupt court
system and a high crime rate. (7) Limited and costly financing resources
for U.S. exporters and Ivorian buyers. (8) Limited Ivorian purchasing
power.
Tariffs and Import Taxes
Cote d'Ivoire has a tariff structure composed of two basic customs
charges: a fiscal duty and a customs duty. Together the maximum rate is
35 percent. There is also a statistical tax of 2.5 percent paid on all
declarations, a value added tax (VAT) of 20 percent, special
compensatory levies on meat and poultry imports and specific excise
taxes on tobacco products and alcoholic beverages. Most of the duties
are based on ad valorem rates which are imposed on the current export
price from the country of sale or origin plus any shipping or insurance
expenses incurred. (c.i.f.) The method of value assessment in use is
based on the Brussels Definition of Value (BDV). Although Cote d'Ivoire
is a voting member of the Customs Valuation Code (CVC), they have five
years to implement the code. Consequently, the value assessment method
may change within the next five years.
2. Customs Valuation
Regulatory Agencies
Governmental agencies responsible for regulating business activities
include:
Taxation Direction Generale des Impots du Ministere de
l'Economie, des Finance et du Plan (The Tax Department of the Ministry
of Economy, Finance and Plan)
Monetary
Transactions Direction des Finances Exterieures et de Credit
du Ministere de l'Economie, des Finances et du Plan (The International
Finance and Credit Department of the Ministry of Economy, Finance and
Plan)
Labor Issues Agence d'Etude et de Promotion de l'Emploi
(AGEPE). The Labor Department)
Copyrights Bureau Ivorien de Droits d'Auteur (BURIDA) (Ivorian
Bureau of Author's Rights)
Import/Export
Licenses: Direction du Commerce Exterieur du Ministere du
Commerce et de l'Industrie (Department of External Trade of the Ministry
of Commerce and Industry)
Cote d'Ivoire subscribes to the pre-inspection service of the Swiss
company, Societe General de Surveillance (SGS). All goods entering Cote
d'Ivoire that are worth more than CFA/F 1 million or USD 2 thousand (1
USD equals CFA/F 500) must be inspected by SGS at the point of origin
and upon arrival to ensure that invoice valuation is consistent with the
goods actually shipped. An SGS-approved invoice is then used as the
basis for customs valuation. Exporters should note that the SGS
inspection process is triggered by the local (Ivorian) importer when
he/she applies for an import license. SGS' U.S. office is: SGS
Government Programs, Inc. 42 Broadway, New York, NY 10004. Tel: 212-
482-8700; Fax: 212-363-3316.
3. Import Licenses
Quotas
Cote d'Ivoire regulates the importation of certain products by a system
of so-called quotas. Importers must apply to the Ministry of Commerce
for a quota even before applying for an import license. The quota
system, in effect, adds a pre-qualifying step to the import process.
Following is a partial list of key items subject to a quota: fuels and
lubricants, coffee, cocoa, sugar, certain textiles, used clothing,
specific types of vehicles.
Import Licenses and Intents to Import
Importers are required to obtain either an Import License from the
Ministry of Commerce and Industry or an Intent to Import from SGS, prior
to importing non-prohibited goods. An import license is required for
transactions CFA/F 25,000 or USD 50 (CFA/F 500 equal 1 USD) or more of
goods. For imports valued at CFA/F 1 million or USD 2 thousand f.o.b.
or more, an Intent to Import is required. Goods shipped within the West
African Economic Community (ECOWAS) are not exempt from these
requirements. It is expected that import licenses should no longer be
needed by 1997.
Import licenses and intents to import are valid for six months. Both may
be extended only once for six months. Only licenses may be renewed.
Licenses are prepared in quadruplicate and Intents in quintuplicate, and
must be submitted with pro-forma invoices in triplicate. Livestock and
animal products, including hides and skins are subject to prior
authorization from the Ministry of Agriculture.
The Government no longer imposes strict licensing requirements on rice
imports. The Caisse General de Perequation et Prix, which previously
licensed all rice imports and also imported most rice consumed in Cote
d'Ivoire, was dissolved by order of the Council of Ministers in April
1995. However, in order to qualify to import ordinary (20-35 percent
brokens) rice, an importer must be qualified by the Interministerial
Committee on Rice. Imports of brown (decorticated) rice and deluxe
(less than 20 percent brokens) rice are fully liberalized. All rice
imports are to be liberalized by January 1997.
On May 1, 1995, the GOCI liberalized the importation of wheat and wheat
flour which had previously been subject to a monopoly by the privately
owned flour milling group. However, the Government will pay a subsidy
to the local flour mill to allow it to price flour on the local market
at 150,000 CFA/MT, which will make it difficult for private flour
importers to compete. The subsidy will be terminated on January 1,
1996.
Neither an Import License or an Intent to Import is required for the
following key items: industrial drawings and plans, samples as defined
in customs regulations, spare parts supplied free of charge by foreign
manufacturers to replace defective parts, vehicles of any category,
imported temporarily into Cote d'Ivoire.
Errors/Voiding of a License or Intent
An Import License or Intent to Import becomes void if: 1) the
importation does not take place, 2) the supplier is changed, 3) the
importer is changed, 4) the value or quantity is changed by more than 10
percent. The importer should contact SGS to make the required changes.
4. Export Controls
Export Licenses are required for any goods for which export is
restricted. They are valid for six months and are prepared in
quadruplicate. Except for coffee and cocoa whose licenses are prepared
by the national marketing board (the Caisse de Stabilization et Soutien
des Prix de Produits Agricoles, or CAISTAB), all export licenses are
issued by the Ministry of Commerce and Industry.
5. Import Documentation
Documents for most goods shipped into Cote d'Ivoire include:
Commercial Invoice: Two copies in French are required. Although there
is no required form to be used, all invoices must contain the names of
the exporter and consignee, the number and types of packages, the marks
and numbers on the packages, the net and gross weights, the c.i.f.
value, the terms of sale, and a thorough description of the merchandise.
Certificate of Origin: Two copies in French are required. They must be
certified by a Chamber of Commerce.
Packing List: Packing list are not legally required but such lists are
usually considered essential in accelerating the time required for
customs clearance. This is particularly true for shipments containing a
number of small items.
Bill of Lading (or air waybill): As in the case of commercial invoices,
there are no regulations specifying content of a bill of lading.
Importers should include clear marks of identification and the name and
address of the consignee of the goods. It is important to assure that
shipping marks and numbers on bills of lading, invoices, and on the
goods should correspond exactly.
Pro-forma Invoice: Persons wishing to import goods are required to
attach six copies of this invoice to the application for an import
license and/or the intent to import. A pro-forma invoice may also be
required when presenting an application to Ivorian authorities to ship
bonded goods through the country.
SGS Inspection Certificate: Issued by the inspecting SGS office at the
point of origin and is delivered to the importer in Abidjan.
6. Temporary Entry
A new or a temporary business may apply to the Ministry of Commerce and
Industry for Admision Temporaire, or temporary entry, of their goods.
This status may also be accorded to goods that will be re-exported to
other countries if a bonded warehouse is not used. New investments may
also apply for a priority agreement. Both are granted on a case-by-case
basis.
7. Labeling, Marking Requirements
In addition to the requirements described under import/export
documentation, all packages containing U.S. produced merchandise must be
clearly labeled "MADE IN THE U.S.A." or they will not be allowed to
enter the country.
For high-tech equipment such as telecommunications equipment,
photocopiers, computer hardware and software, French-language key
boards, symbols, instruction manuals, operating systems and applications
software are critical to the success of a product. Do not assume the
user is a native English speaker. The equipment must be adapted to run
as specified by European electrical and metric standards.
Consumer product labels, generally, must be in French for a product to
be of interest to importers and consumers. Manufactured food products
must be labeled in French and must have an expiry date. Health
officials will often interpret the date of manufacture as an expiry
date, if one does not appear on the label, and deny entry to the
product. Therefore, it is best to include both dates.
8. Prohibited Imports
Goods not eligible for import, or subject to import restrictions into
Cote d'Ivoire include: live animals, arms or munitions, plastic bags,
distilling equipment, pornography, saccharin, narcotics, explosives and
living plants and seeds and illicit drugs.
9. Standards
Cote d'Ivoire uses 220 v 50 cycles for electricity and the metric system
of measurement. Operating standards usually follow the French or
European norm.
10. Free Trade Zones/Warehouses
Cote d'Ivoire operates a transit zone facility in Abidjan for goods
being shipped to Burkina Faso, Mali and Niger. Bonded warehouse
facilities are available in Abidjan. To utilize a bonded warehouse, the
exporter must engage a local importer. The exporter ships to the bonded
warehouse which then accepts payment from the importer for the product
as the importer withdraws it from the warehouse. The bonded warehouse
system allows the importer to avoid the cost of opening a letter of
credit and of paying high local interest rates. However, the exporter
must take into account in his pricing the cost of financing the goods
while they are in the bonded warehouse. The importer and exporter
should agree on a time limit by which the importer must take receipt of
the full shipment.
11. Membership in Free Trade and Monetary Agreements
Cote d'Ivoire is a member of UEMOA (the Economic and Monetary Union of
West Africa), which in 1994 replaced and enhanced (with economic
cooperation) the former UMOA (Monetary Union of West Africa.) Under
this treaty, Cote d'Ivoire has undertaken to coordinate its economic,
financial, and structural policies with those of its francophone
partners in the region. Beyond reducing inter-zone tariffs and
eventually establishing a common external tariff, UEMOA plans to
harmonize customs regulations and business law and practices among its
members.
Monetary cooperation already takes place under French franc zone
arrangements, with a common central bank, the BCEAO (Central Bank of
West African States), located in Dakar. To ensure the convertibility of
the CFA franc, the Banque de France guarantees the money issued by the
BCEAO (and its Central African counterpart BEAC), in exchange for a
BCEAO reserve requirement at the French treasury.
Cote d'Ivoire is also a member of ECOWAS, the Economic Community of West
African States. ECOWAS, which groups both anglophone and francophone
states of the region, also has as its goal (as does UEMOA) a customs
union which is to lead eventually to a full common market, and the free
movement of labor. Original ECOWAS arrangements called for full tariff
exemptions for companies which are at least 25 percent owned by citizens
of member states, and exemptions for goods which are at least 40 percent
manufactured within ECOWAS. Member countries were allowed to "phase-
out" their inter-community tariffs over the coming decade, however, and
little has been accomplished to date. The Government of Cote d'Ivoire
has agreed to re-examine its moribund relationships with ECOWAS in the
context of its commitment to greater regional integration in the
future, but UEMOA seems to have the government's priority.
Cote d'Ivoire is a signatory to the Lome Convention, a trade and aid
agreement between the European Union and 46 of Europe's former colonies
and dependencies in African, the Caribbean and the Pacific (the ACP
group). Lome arrangements guarantee duty free entry into EU member
states for a number of commodities and products produced in ACP
countries.
VII. INVESTMENT CLIMATE
1. Openness to Foreign Investment
Cote d'Ivoire actively encourages foreign investment. The National
Assembly has before it a new Ivorian Investment Code in the spring of
1995, containing provisions that modify the Code of June, 1985 which are
designed to encourage additional private sector investment in the
economy. For all practical purposes, there are no significant limits on
foreign investment -- or difference in the treatment of foreign and
national investors -- either in terms of levels of foreign ownership or
sector of investment. The former investment code was aimed at helping
small and medium-sized firms; the new code provides incentives for
larger investments as well. Additional incentives are offered to those
who choose to invest outside of Abidjan and other established urban
industrial areas.
An important, new feature of Cote d'Ivoire's investment promotion
efforts was the establishment, in February, 1995, of the Ivorian
Investment Promotion Center, or "CEPICI," to use its French acronym.
CEPICI is designed to provide investment information and assistance for
entrepreneurs interested in starting a business or investing in Cote
d'Ivoire. CEPICI operates three basic programs: a "one-stop-shop" for
investors; an outreach program, designed to match opportunities with
potential investors; and a liaison program between the public and
private sectors.
Investments from outside the franc zone must be approved by the external
finance and credit office of the Ministry of Economy and Finance, but
this is essentially a foreign exchange control/monitoring measure. For
limited partnerships, one or more shareholders must be resident in Cote
d'Ivoire. Though regulations exist to control land speculation by
foreigners, foreigners in fact own significant amounts of land in Cote
d'Ivoire.
2. Conversion and Transfer Policies
Cote d'Ivoire is a member of the CFA franc zone, which means that the
convertibility of the CFA franc is guaranteed by the French Treasury.
From 1948 until January 1994, the exchange rate was fixed at 50 CFA
francs for one French franc; the rate is now 100 CFA francs for one
French franc. Remittances within the Franc Zone are freely permitted;
otherwise, prior permission is required.
For investments coming into the zone from outside, prior permission is
required and routinely granted. Once an investment is established and
documented, remittances of dividends or repatriation of capital must
also be approved, and routinely are. The same holds true, in general,
for requests for other sorts of routine transactions -- e.g., imports,
license and royalty fees, etc. Occasionally, delays have arisen as a
result of temporary liquidity shortfalls in the banking system.
3. Expropriation and Compensation
Cote d'Ivoire has a general purpose public expropriation law, with
built-in compensation provisions, similar to that in the United States.
The embassy is not aware of any specific cases of expropriation of
private property by the government.
4. Dispute Settlement
Enforcement of contract rights can be a time consuming and expensive
process. Not all cases are decided quickly, and some do not appear to
be judged on their legal or contractual merits. This has led to a
widely-held view within the business community that there are elements
within the judiciary which can be corrupted. A new Arbitration Tribunal
is being established, under the auspices of the Chamber of Commerce,
where businesses may go to settle their commercial disputes. This is
designed as a reform measure to avoid the backlogged and inefficient
court system. Only time will tell whether dispute settlement will
become less of a problem under the new system.
Subject to the vagaries of the legal enforcement system, property rights
do exist and are respected. Enforcement of real property, however, can
be complicated by the clash between the traditional property rights of a
village or ethnic group and the more modern system of long-term
leaseholds (freehold tenure is generally not granted to private
individuals or entities).
There is no specific Ivorian legislation providing for arbitration for
investment disputes, though the use of arbitration provisions was upheld
in a 1989 Supreme Court decision. Cote d'Ivoire is a member of the
International Center for the Settlement of Investment Disputes (ICSID).
5. Political Violence
There have been a few incidents of civil disturbances over the past
several years, but they have generally taken place in the context of the
newly introduced system of multiparty democracy or of student demands
for better conditions and more financial support. One exception was a
brief mutiny by the Presidential guard over pay and benefits issues in
March 1993. Another exception, and the most severe incident, involved
violence following a soccer match against a Ghanaian team in November
1993. Notably, the fifty percent devaluation of the CFA franc in 1994
was not accompanied by disturbances, despite the government's decision
to hold average wage increases to only 10 percent. As the 1995
elections approach, there is some possibility of further civil
disturbances, but violence has not characterized Ivorian political life
in the past and is not expected to do so in the foreseeable future.
When there have been incidents, private investment has not been targeted
by those involved.
6. Performance Requirements/Incentives
There are no general performance requirements or incentives applied to
investments, though benefits accorded to an investor under one of the
investment regimes may vary depending on the nature of the investment
made, and preferences may be granted to investors seeking to establish
themselves outside of Abidjan. Should a company seek designation as a
priority enterprise eligible for the tax and other benefits provided in
the investment code, Ivorian participation becomes negotiable and the
firm may be required to purchase Ivorian products. Under the old
investment code, designation as a priority enterprise was available to
investors in agriculture, livestock and fishing, storage and treatment
of agricultural and food product, low-cost housing construction,
extractive industries, power production, and manufacturing and
assembling. It is unclear how the new code will treat so-called
priority investments.
7. Right to Private Ownership and Establishment
Generally speaking, foreign investors have access to all forms of
remunerative activity on terms equal to those granted private Ivorians.
Foreign investment in privatization of parastatal firms is encouraged,
though there are plans to reserve shares for Ivorian citizens in certain
key sectors.
8. Protection of Property Rights
The acquisition and disposition of property rights, including
intellectual property, is covered by the Ivorian Civil Code.
Cote d'Ivoire is a party to the Paris Convention, its 1958 revision, and
the 1977 Bangui Agreement grouping thirteen Francophone African
countries in the African Intellectual Property Organization (OAPI). In
OAPI, rights registered in one member country are valid in all. Patent
validity is ten years, with two five year extensions possible.
Trademarks are valid for ten years and are renewable indefinitely.
Literary copyrights are protected for fifty years following the author's
death (or posthumous publication). Other intellectual property rights
are valid for five years with various renewal periods; we are not,
however, aware of domestic legislation specifically covering
semiconductor chip layout design.
Though in theory prohibited, counterfeit clothing, textiles, footwear,
watches, and audio and video tapes can be found, particularly among
street vendors.
9. Regulatory System: Laws and Procedures
The Ivorian government, working with the IMF and the World Bank, has
taken a number of steps to encourage a more transparent and competitive
economic environment. (See Chapter II: Economic Trends and Outlook)
Nevertheless, much remains to be done. Corruption is widely assumed to
exist in all branches of government and, despite considerable progress,
the marketing of the country's key export crops remains subject to
control by vested interests. Tax and duty rates have been significantly
lowered, yet they remain, on balance, high as the government seeks to
earn revenues with which to clear its large arrears; until those rates
come down further, they will continue to distort the allocation of
resources and encourage corruption. Bureaucratic procedures have also
been simplified in a number of cases, but they remain cumbersome.
The government has shown a laudable interest in streamlining the
regulatory system, and its programs with the IMF and World Bank address
most of the problems identified above. Among objectives that have been
set by the government are: a lowering of tax and duty rates along with
a broadening of the tax base; the drafting of new investment, labor, and
mining codes; establishment of a one-stop investment registration
bureau; and audits of a number parastatal entities. As these plans are
pursued, the regulatory environment should improve significantly.
10. Bilateral Investment Agreements
There are no formal investment treaties in force. The U.S. has neither
investment nor tax treaties but does have an OPIC agreement in force.
Cote d'Ivoire has double taxation treaties (based on the OECD model
treaty) in force with France, Belgium, Germany, Great Britain, Norway,
Canada, Italy, and in Africa with Benin, Burkina Faso, Congo, the
Central African Republic, Gabon, Mauritius, Mali, Mauritania, Niger,
Rwanda, Senegal and Togo. These treaties relate to both personal and
corporate income taxes.
11. OPIC and Other Investment Insurance Programs
OPIC insures a number of U.S. investments in Cote d'Ivoire; it became
part owner of a hotel that had gone bankrupt, and is involved in a gold
mine which began production in 1992. Nevertheless, its exposure is
relatively small. In addition to OPIC, the African Project Development
Facility (APDF) and the African Investment Program of the International
Finance Corporation and the Africa Growth Fund are sources of
information for interested investors.
Cote d'Ivoire is a member of the Multilateral Investment Guarantee
Agency (MIGA). MIGA has not completed an operation here but has
received preliminary applications for investments in the areas of
natural resources, manufacturing, and financial services.
12. Labor
By regional standards, Cote d'Ivoire has a highly-trained and highly-
capable work force. The government has traditionally encouraged the
hiring of Ivorian nationals, and work permits for expatriates from
outside of the franc zone have sometimes been hard to obtain. The
Ivorian labor market is segmented. Unskilled and day labor is readily
available, while clerical, technical, managerial, and professional
talent is more difficult to find. Wage rates are relatively high by
regional standards, but costs of capital goods, transport, and energy
are also high; it is therefore not obvious that high labor costs
provoke overspending on labor-saving technology.
Previous labor laws were relatively rigid, and made it hard to separate
workers for cause. The adoption of a new labor code in January 1995 has
introduced greater flexibility into the functioning of the labor market,
with less restrictions on recruitment and dismissal, for example. With
the aim of promoting employment, the government has also eliminated or
reduced taxes effecting wage costs.
13. Foreign Trade Zones/Free Ports
Bonded warehouses exist, and bonded zones within factories are allowed.
High port costs and maritime freight rates have inhibited the
development of in-bond manufacturing or processing, and there are
consequently no foreign trade zones. Bonded warehouses serve mostly for
transhipment of goods to Mali and Burkina Faso.
14. Capital Outflow Policy
Capital may be freely transferred within the franc zone, including to
France. Transfer of capital outside of the zone requires prior
approval, which is routinely granted to foreigners with registered
investments in Cote d'Ivoire. Banknotes may not be transported outside
of the zone, and the Central Bank announced in late 1993 that it would
no longer repurchase banknotes presented to it by other central banks.
15. Major Foreign Investors
France continues to be the most important foreign investor in Cote
d'Ivoire, providing well over half of the total stock of direct foreign
investment. Important French investors include the major French banks,
Total and Elf (petroleum distribution), Delmas (shipping), SGB
(agriculture-bananas), and Saur/Bouygues (public utilities and
construction). Values of Ivorian subsidiaries or operations of foreign
investors generally are not publicly available. British investment,
largely in commerce and agriculture, has traditionally been the second
largest in Cote d'Ivoire, following France. Swiss investment is
concentrated in banking and food processing. Canadian investment in
mining will make that country a significant investor here.
The biggest U.S. investment is provided by a group led by the Houston-
based petroleum exploration and development company United Meridian.
The consortium has invested approximately USD 160 million over the past
two years, with about half of this being American investment (USD 80
million), and will invest substantially more over the coming years to
develop offshore gas and oil fields. American investments in offshore
oil and gas developments, by United Meridian and by other U.S. oil
companies doing business here, means that the U.S. will most probably
move into second place as an investing nation, behind France.
An American-controlled Canadian firm (Marshall Minerals/Eden Roc) has
invested substantially (est. over USD 10 million) in gold mining and is
expected to increase that investment several fold. Other U.S. mining
and telecommunications investments could occur in the future thereby
increasing the U.S. presence in Cote d'Ivoire.
VIII. TRADE AND PROJECT FINANCING
1. The Banking System
The Cote d'Ivoire is a member of the Communaute Financiere Africaine, a
financial grouping of Francophone African countries. Within that
grouping, it belongs to the Union Economique et Monetaire de l'Afrique
de l'Oeste (UEMOA). The BCEAO is the central bank, located in Dakar, is
the central bank for UEMOA members. The currency issued by the BCEAO,
the CFA franc, is convertible against the French franc at a rate of
100:1; convertibility is guaranteed by the French Treasury.
There are 10 commercial banks in operation and they are listed in rank
order with their correspondent U.S. Banks in Section 6 below. A small
stock exchange (purported to become a regional exchange in 1996), over
30 insurance companies and the African Development Bank are
headquartered in Abidjan. The World Bank and the International Finance
Corporation also maintain regional offices.
2. Foreign Exchange Controls Affecting Trading
Exchange control within the Cote d'Ivoire is administered by the
Directorate of External Finance and Credit. According to Ivorian law,
all exchange transactions relating to foreign countries must be handled
by authorized banks or the Postal Administration. If an imported item
has a value in excess of approximately CFA/F 500,000 or USD 1,000 (CFA/F
500 equals 1 USD) the transaction must involve an Ivorian bank.
Transactions involving goods valued at less than this amount must be
handled by an authorized Ivorian bank if a financial transaction is to
be undertaken before customs clearance. Import licenses or import
attestations allow importers to purchase any necessary foreign exchange,
but no earlier than eight days before the scheduled shipment of the
goods. All foreign exchange to be used for import payment must be
purchased either on the date of settlement specified in the commercial
contract, or at the time when the required down payment is made.
French franc based-transactions are the easiest and most common.
Dollar-based transactions take longer. The fees associated with
processing exchange transactions are high and vary slightly between
banks. The required import license for goods valued at USD 50 (CFA/F
25,000) f.o.b. or more is also an authorization to remit payments for
imports denominated in other currencies.
3. General Financing Availability
Commercial lenders tend to lend against collateral, not prospective
income and cash flow. Financing is generally available for short term,
(one year or less) private sector projects. Prior to the devaluation,
lending was highly restricted and loan rates were high (18 percent
interest); in an effort to control the inflationary impact of
devaluation, rates rose even higher. Since the devaluation, flight
capital has returned and the liquidity within the system has increased
substantially, however, few loans have been made due to limited
opportunities, high interest rates, repayment concerns and apprehension
that the Ivorian government has yet to address the huge public debt. The
current lending rate ranges from 10-16 percent. Consequently, it is the
general rule that medium to long term public sector projects are
financed by multilateral lending institutions such as the World Bank or
the African Development Bank or by European foreign aid programs.
4. How to Finance Exports/Methods of Payment
Traditional trade finance instruments such as letters of credit,
collections, and funds transfer are available to the exporter however,
the associated fees are high compared to other regions. If a letter of
credit is chosen, the exporter should require an irrevocable, confirmed
letter of credit to ensure prompt, reliable payment. The OPIC/Citibank
African Trade Facility of USD 100 million is now on-line. The Cote
d'Ivoire country limit is USD 10 million.
The USDA's West Africa Regional GSM-102 Credit Guarantee Program
provides access to financing for imports of wheat, rice, feed grains,
vegetable oil, protein meal, and dairy products. The payment guarantee
to the U.S. exporter is for a minimum of 90 days and a maximum of one
year. The guarantor banks in Cote d'Ivoire are Citibank, N.A and
BICICI. The country limit for Cote d'Ivoire is USD 25 million. The
GSM-102 program is generally available only to high quality importers
with a good credit history and substantial assets with the guarantor
bank.
5. Types of Available Export Financing and Insurance
For private sector projects, the following Washington-based agencies
offer the U.S. exporter financing and insurance programs: International
Finance Corporation (IFC) and the Overseas Private Investment
Corporation (OPIC). OPIC's programs include loans, loan guarantees and
insurance products. The Export Import Bank of the United States (Exim
Bank) is off-cover for both private and public sector transactions at
this time. If Cote d'Ivoire's rating were to change, in addition to
short and medium term loan guarantees, Exim Bank has a Direct Loan
Program that would offer foreign buyers medium and long-term loans for
up to 85 percent of the contract price at fixed interest rates for the
purchase of U.S. capital equipment and services that face officially
subsidized foreign competition.
The U.S. Trade and Development Agency, The World Bank and the African
Development Bank offer funds to finance feasibility studies and loans to
finance Ivorian government sponsored procurement.
6. Ivorian Banks and Their Correspondent U.S. Banks
SGBCI - Societe Generale de Banque (SGB)
BIAO - Credit Commercial de France
BICICI- Banque Nationale de Paris (BNP)
SIB - Credit Lyonnais
Citibank - Citibank
Banque Atlantique - Credit Industriel et Commercial (CIC) et de
l'Union Europeenne, New York
Paribas - Paribas
Eco Bank - none
Banque de l'Habitat de Cote d'Ivoire (BHCI) (specializes in housing) -
none
Barclays Bank - Purchased in April 1995 by Financial Bank, a Franco-
Swiss financial consortium with operations in Benin, Senegal and Togo.
The sale will be finalized later this year.
IX. BUSINESS GUIDELINES: TRAVEL AND INFRASTRUCTURE
1. Business Customs
French is the official language of Cote d'Ivoire and is widely used in
business and commerce. It is not common or easy to find English
speakers locally. Business correspondence, catalogs and advertising
materials prepared in French are essential and readily understood by
most potential buyers. Business cards or "cartes de visite" are widely
used. The range from the simple: black and white, standard 2" x 3.5"
cards, to colorful: oversized, multi-colored cards with fancy logos.
Academic titles and degrees are frequently used by members of the
expatriate community or those who have received their schooling abroad.
U.S. business people ordinarily use their firm's name and their title
translated into French.
As a rule, business customs in Cote d' Ivoire are similar to but perhaps
more formal than those in the United States. Ivorians in large
commercial enterprises tend to follow a western-style business dress
code comparable to those in any large U.S. city. Tropical weight suits
and clothing are appropriate throughout the year and an umbrella is
essential during the June to August rainy season. Please refer to
Chapter IV. Section 7: Selling Factors/Techniques for further
information.
2. Travel Advisories and Visas
Entry Requirements
Health: A valid U.S. passport and international health certificate
showing current yellow fever and cholera immunizations are required for
entry into Cote d'Ivoire. Otherwise, the traveler risks being subjected
to inoculation at the point of entry which is highly inadvisable.
Inoculation against typhoid, tetanus, diphtheria, typhus is also
recommended. Malaria prophylaxis is strongly advised. The traveler is
also advised to keep their passport on their person at all times.
Failure to do so may result in detention at a local police station.
Entry Visas: American citizens do not need a visa to enter or depart
Cote d'Ivoire if their visit is for less than ninety days. All visitors
should ensure their passport is stamped by Ivorian officials at port of
entry.
A long term visa (Visa de Long Sejour) is required for business people,
tourists and diplomats if the visit will exceed ninety days. Visas are
issued by the Embassy of Cote d'Ivoire, 2424 Massachusetts Ave. N.W.,
Washington, D.C. 20008 tel: 202-797-0300, fax: 202-387-6381 (and by the
French Embassy in Washington on an emergency basis.) Airport visas are
not available. Visas may be for either single or multiple entries and
must be accompanied by a letter of recommendation from the company
represented by the traveler. If the visa expires while in Cote
d'Ivoire, it is necessary to apply for renewal at the Surete Nationale.
Work and Residency Permits: Requirements for persons wishing to seek
long-term employment in Cote d'Ivoire are stringent as the country is
emphasizing "Ivorianization" of its work force. In the case of skilled
employment, permission is granted only if personnel with comparable
skill are not locally available. A Security Bond is required for each
alien so employed.
American citizens who expect to work and reside in Cote d'Ivoire for an
extended period of time, must apply for a residency permit (Certificat
de Residence) and a work permit (Carte de Sejour) at the Surete
Nationale. The following are the basic documents required in support of
a residence and work permit applications:
a. Valid passport
b. Completed application form
c. Photos (3) and fingerprints (taken at the Surete Nationale)
d. Statement by the applicant regarding his/her activities in Cote
d'Ivoire
e. A fee of approximately USD 85. Your receipt is a permanent record.
You will need to show it until the Carte de sejour is delivered. It is
also required for the application for an exit visa.
It is also a good idea to register with the U.S. Embassy if the visit
will exceed ninety days or if the visitor plans to work in the Cote
d'Ivoire.
Departure/Exit Visas: Departure or exit visas are required of all
visitors who have stayed in Cote d'Ivoire longer than ninety days. When
applying for this type of visa, you will need a photocopy of your
Certificate de Residence and its fee receipt. The charge for an exit
visa is approximately USD 35. Visitors who depart Cote d'Ivoire prior
to ninety days (verified by the entry stamp in the passport) do not need
an exit visa.
Other Entrance Requirements - Personal/Professional Goods
Free entry is permitted of necessary wearing apparel and personal
effects that are proved to have been in personal or household used by
the traveler and are not for sale, and of instruments and tools for
professional use. All other goods including tobacco and alcoholic
beverages, whether imported for personal use or sale, including goods
intended for residents of the Cote d'Ivoire are subject to duty.
Travelers deciding to import any vehicle (including trailers or cycles)
or other goods intended for their use, convenience or comfort, but not
for consumption, must deposit at the time and place of importation a sum
equal to the duty that would be imposed. Simultaneously, a claim for
temporary exemption should be presented. The vehicle or goods must then
be exported at the end of the stipulated period. These conditions also
apply to articles imported for exhibition or demonstration and
subsequent reexport. If the prescribed conditions are not met, the
visitor will be liable for the full duty of the vehicle or goods
imported. A guarantee may be made by an authorized organization,
however, in which case no deposit is required. The organization thereby
assumes the liability for the duty if the vehicle or goods is not
reexported within the prescribed period.
3. Public Holidays
January 1 (New Year's Day)
March (End of Ramadan)**
April 17 (Easter Monday)
May 1 (Labor Day)
May (Ascension Day)
May (Tabaski)**
June 5 (Pentecost Monday)
August 15 (Assumption Day)
August (Prophet Mohammed's Birthday)**
November 1 (All Saint's Day)
November 15 (National Peace Day)
December 7 (Independence Day)
December 25 (Christmas Day)
**Business travelers should verify the dates of these holidays prior to
undertaking their trip. These holidays vary from country to country and
depend on the sighting of the moon. Business establishments are
normally closed during public holidays in Cote d'Ivoire.
4. Business Infrastructure
Cote d'Ivoire has an outstanding infrastructure by developing country
standards and arguably the best in sub-Saharan West Africa: things work
most of the time. This includes an excellent system of paved roads,
very good telecommunications, two modern seaports, two airports, rail
links, modern real-estate developments for commercial, industrial and
retail use, modern supermarkets, modern hotels, a number of recognized
international banks and a small, national stock exchange.
Currency Exchange
The CFA franc, the official currency of Cote d'Ivoire, is the currency
of the Communaute Financiere Africaine, a financial grouping of
Francophone African countries. Coins of 5, 10, 25, 50, 100 and 250
CFA/F and bills of 500, 1,000, 2,500, 5,000 and 10,000 CFA/F are in
circulation. Currently the rate is approximately 500 CFA/F to USD 1
although any exchange to CFA/F from dollars will be at the daily
prevailing rate. You may exchange funds at local banks, hotels and at
the airport. Expect to receive lower than the daily published rates.
French francs can be exchanged at the fixed rate of 1 French franc
equals 100 CFA/F.
There are no limitations on the importation of dollars, travelers checks
as long as they are declared upon entry. Permission from an authorized
Ivorian bank is required to export dollars. The importation and
exportation of Ivorian currency (the CFA/F) is strictly prohibited.
Labor Costs and Legislation
The guaranteed minimum monthly wage (SMIG) in Cote d'Ivoire was USD 58.
On May 1, 1995, the Government of Cote d'Ivoire announced a salary
increase ranging from 3 to 15 percent in the public sector effective
June 1, 1995. This increase will depend upon the worker's rank. In
addition to the basic salary, employers pay social insurance premiums of
9.9 percent of the base salary and employees contribute 1.6 percent of
salary towards retirement. Numerous mandatory allowances are also paid
and include: meal, transportation, housing, and seniority allowances.
Health insurance is also required. Employees receive 2.5 days of paid
vacation for each month of work. Workers in any company with 10 or more
employees have the right to union representation.
Beyond the SMIG, there is a scale of monthly base salary for certain
occupational categories. Below is a listing of these categories and the
approximate monthly salaries including allowances. Effective June 1,
1995, salaries in the public sector will be increased from 3 to 15
percent.
Unskilled worker: USD 58
Semi-skilled worker: USD 105
Skilled worker: USD 122-140
Bi-lingual Skilled Office Worker: USD 1500
Typist: USD 90-108
Bi-lingual Receptionist: USD 660
Secretary: USD 128
Bi-lingual Accountant/MBA: USD 3000
Overland Transport
In 1994, Cote d'Ivoire had over 31,000 miles of roads of which 3,750
miles were primary roads and 4,375 miles were paved secondary roads. All
major cities can be accessed by paved roads in an ordinary passenger
car. Gasoline stations are readily available. Fuel prices are subject
to government control range from 66 cents per liter for regular gasoline
and 48 cents per liter for diesel fuel. There is an external rail line
that runs to Ouagadougou in Burkina Faso, approximately 700 miles from
Abidjan. In general, barring the red tape, large shipments can be
accommodated within and external to Cote d'Ivoire.
Air and Maritime Transport
The Felix Houphouet Boigny International airport in Abidjan is the main
airport of Cote d'Ivoire. In 1994, it handled over 791,900 passengers
and over 22,000 tons of freight. About 19 international airlines serve
Abidjan. There are twenty-five domestic and regional airports serviced
by Air Ivoire, the national airline. The other international airport is
located at Yamoussoukro.
The Cote d'Ivoire has two major ports at Abidjan and San Pedro. Total
freight traffic in 1994 for both ports exceeded 11.5 million tons of
which over 50 percent was petroleum products (Abidjan) while San Pedro
is used mostly for timber and other agricultural products. While the
Port of Abidjan is one of the most modern in West Africa, unfortunately,
it is not one of the most productive. The main problem is paperwork
related delays caused by the monopolistic customs and freight handling
system. Use of a freight forwarder (transitaire) is mandatory.
There are two national shipping companies, Sitram and Sivomar. Sivomar
has ventures with France's Delmas line, with Italy's Grimaldi line, and
recently with a South African shipping line. Sivomar serves West and
Southern African and Mediterranean ports. Sitram recently declared
bankruptcy and the government is in the process of reorganizing the
company in preparation for its sale.
Communications
As of March 1995, there were 110,000 telephone subscribers in Cote
d'Ivoire with 80 percent in the Abidjan area. CI-Telcom, the government
controlled telecommunications company estimates that the number of
subscribers will exceed 135,000 by year-end. CI-Telcom services
include: mobile radio telephone, telex, telegraph and facsimile
services, and an X.25 based packet switched network for large data
communications applications and the MINITEL directory. The average wait
for a telephone line to be installed is 2 to 3 months.
Utilities
Electricity: In May, 1994, the Ivorian government announced new rates
for electricity but has not yet published a schedule. The increase
primarily affects businesses and middle class households and above and
will average approximately 19.5 percent.
All subscribers choose a service capacity level and pay a security
deposit plus an upgrade charge (for a higher level of capacity) upon
initiation of service. This amount has been approximately USD 900 for
U.S. Embassy houses which are invariably upgraded to an average of 39.6
KW rating of installed capacity. The deposit is partly refunded upon
cancellation of service. Customers receive a bill every two months.
Rates consist of a fixed monthly fee, usage fees based on a variable
rate per kilowatt hour, community tax (around 1 percent of the total
consumed), a contribution for rural electrification (around 5 percent of
the total consumed) and a government "stamp" tax (around 77 cents). The
fixed monthly fee is approximately USD 4.30 per KW of the installed
capacity and the variable rates per kilowatt hour are 10.3 cents for the
first 8,297 hours and 8.2 cents for the balance. The average Embassy
house electrical bill exceeds USD 1,100 every two months. Peak hours:
19:30 until 23:30, Busy hours are: 06:30 to 18:00, Off Peak hours are:
24:00 to 06:30.
Business users (factories) pay a fixed charge for an industrial hookup
(USD 2.60 per KW of installed capacity), a fee for a transformer
(varies), plus 1 month's billing as a refundable deposit. Medium
tension rates vary from 4.8 cents to 10 cents (off-peak versus peak
hours) and high tension users pay between 1.9 and 3.0 cents per KWH plus
USD 7 per month per KW of installed capacity.
Water: In May, 1994, the Ivorian government announced new rates for
water but has not yet published a schedule. The increase primarily
affects businesses and middle class households and above and will
average approximately 15 percent.
All customers are billed on a quarterly basis. A deposit of
approximately USD 53 is required to initiate service. The current rates
are 0 to 30 cubic meters at 28 cents, 31 to 60 cubic meters at 46 cents
and over 60 cubic meters at 54 cents.
Taxes
Corporate Taxes: The following taxes are applicable to all legally
registered corporations: Tax on corporate profits: 35 percent; National
Contribution Tax: 1 percent; Personal Property Tax: 6 percent of the
income of subsidiaries of foreign corporations and 12 percent of the
income of Ivorian firms; Payroll Taxes: 2.5 percent for local workers
and 16 percent for foreign workers; Workers Compensation: 5 percent for
family allowances, 2-5 percent toward industrial injury costs, and 1.8
percent pension contribution.
Personal Income Taxes: Called employee taxes, they are subject to
numerous adjustments depending on the number of dependents an individual
is responsible for supporting. Taxes come in the form of payroll,
unemployment, income, and pension contributions (always 1.2 percent of
personal income).
Other taxation: A value-added tax (VAT) of 20 percent is included in
the purchase price of domestic or imported goods. A filing fee is
assessed on documents and legal transactions. Additionally, real estate
taxes may be levied depending on the nature of the building or property.
Rents: Office and Residential
With the exception of the industrial zone of Vridi, which is controlled
by the Port of Abidjan, the Ivorian government does not set any minimum
rates. Rates depend upon the location, use of the property and the
length of the tenancy. Current average monthly rates are:
Industrial zone of Vridi: USD 1.73 per square meter
Office lease-downtown
3 or more years,
includes parking and
maintenance USD 5.26 per square meter plus 15 percent per
year
Residential zones: USD 13.31 per square foot (USD 12,000 or more
annually)
There have been a few long term leases (99 years) negotiated by members
of the oil industry. Following the 1994 devaluation, the cost of a
basic business lease did not increase.
Housing/Business Services/Schools
In Abidjan, residential housing is good and there is a varied selection
of apartments, duplexes and single family homes available. Abidjan also
offers a wide range of professional business services including but not
limited to: accountants, tax advisors, appraisers, architects, lawyers,
engineers, computer consultants, real estate managers, and construction
contractors. There is an excellent American-curriculum International
school and several excellent French schools. Multinationals prefer to
locate their regional headquarters in Abidjan because they are assured
relatively trouble free communications and a higher standard of living
compared to other West African countries.
Security
Crime is a major problem in Abidjan as in New York and other major
metropolitan areas. Crimes against foreigners have ranged from routine
street crime to violent crime resulting in death.
Stay in well-lit areas as much as possible. At all times walk
confidently and at a steady pace on the side of the street facing
traffic. Walk close to the curb. Avoid crowds, mass transit, doorways,
bushes and alleys and any areas with a few people.
If you are going out at night, take a taxi. Especially avoid walking
across the main bridges: the Charles de Gaulle and the Houphouet-Boigny
Bridges---they are not safe.
Be discreet with your transactions especially if it is on the street in
full public view. The normal spending money of Western visitors is
extravagant in comparison to the average Ivorian.
Register with the U.S. Embassy if your visit will exceed ninety days.
Health Precautions
Business visitors to Cote d'Ivoire find the climate hot and humid. It
is advisable to SLOW DOWN - you'll last longer! Increase your non-
alcoholic liquid intake - water and juices. Add extra salt to your food
to replace what your body loses in perspiration. Keep your diet light-
the more you eat, the more heat you generate in digesting it. The
looser and lighter your clothing, the better. Avoid excessive exposure
to the sun unless you are accustomed to it.
Malaria prophylaxes are strongly recommended while in Cote d'Ivoire.
Mefloquine or Lariam is preferable. Treatment should be started two
weeks before arrival and should be continued for six weeks after
departure from the country.
Water and ice at the major hotels (Hotel Ivoire, Hotel Sofitel and Hotel
Golf) are considered safe for consumption since these hotels have their
own purification plants. Water and ice served in other establishments
should be avoided. Drink only bottled water which is available in most
restaurants. Beer and soft drinks are safe to consume as long as they
are not served over ice. Avoid eating raw fruits (unless peeled),
salads and vegetables. Meat, no matter what kind, should be well done.
Fish, if fresh, is safe. Milk and milk products from sealed cartons or
bottles is considered safe, as are imported cheeses, butter, cream, and
ice cream if storage has been adequate. Most dairy items served in
restaurants are imported, but if there is any doubt, do not eat them.
The inner lagoons of Abidjan are badly polluted and should be avoided.
While the salt water at the ocean beaches near Abidjan is relatively
clean, the strong surf and treacherous undertow are extremely dangerous.
The pools at the large hotels are filtered and cleaned regularly. The
salt water pools at the beach hotels are generally safe.
Sexually transmitted diseases, including AIDS, are prevalent among the
local population.
Insurance
Visitors are advised to examine their insurance needs prior to their
departure from the United States. Several U.S.-based companies provide
very reasonably priced accident, sickness, liability, and medical
evacuation insurance world-wide.
Hotels
Following is a list of local hotels most frequented by U.S. business
travellers:
Hotel Ivoire Tel: (225)44-10-45 Fax: (225)44-00-50
Sofitel Tel: (225)22-00-00 Fax: (225)21-20-28
Hotel Golf Tel: (225)43-10-44 Fax: (225)43-05-44
Hotel Tiama Tel: (225)21-08-22 Fax: (225)22-40-17
CNN and the French pay-TV program Canal Horizon are available locally.
International Mail and Long Distance Telephone Calls
International Postage Rates to U.S.:
- An airmail letter to the U.S weighing up to 20 gms. requires a 400
CFA/F
- stamp and CFA/F 850 for letters weighing 40 gms.
- A post card without an envelope requires a 400 CFA/F stamp.
- The large hotels sell stamps and accept mail from guests.
For long distance calls to the U.S., use an AT&T calling card if you
have one, especially when calling from your hotel. The access code is
00-1111. You may also use an AT&T card from Cote d'Ivoire to access the
following countries using their World Connect Service: Cape Verde
Islands, Liberia, Gabon, Nigeria, Gambia, Zambia, Ghana, Zimbabwe,
Kenya. Sprint and MCI do not provide direct connect type service to the
Cote d'Ivoire at this time.
Transportation in Abidjan
If you plan to spend a week or more in Abidjan, it is advisable to hire
a car and driver for transportation around the city. Inquire about
these services through the concierge at your hotel. It is possible to
find English-speaking drivers.
Buses: It is not advisable to use the city buses for reasons of
safety, security and reliability.
Taxis: City taxis (orange-red in color) are reasonably priced,
numerous, and available on the main streets and boulevards in most
sections of the city, day or night. All are metered. These rates are
doubled (legally) between midnight and 5:00 AM. Some taxi drivers may
not speak much French and may not know the city as well as one would
expect. Before taking a taxi, check to see if the driver really knows
where you want to go. Abidjan's taxi drivers are notoriously reckless;
when taking a taxi, don't hesitate to instruct the driver to drive slow
down. If a driver is driving too fast and you want him to stop, tell him
to stop here ("Arretez ici!").
If you plan to spend more than a few days in Abidjan, you may wish to
purchase an Abidjan city map at a local book store.
Dining Out
Abidjan's restaurants are many and varied, and offer international
specialties, excellent fish and French cuisine. Luncheon is usually
served between 12:30 pm and 3:00 pm and dinner from about 7:30 pm
onward. Prices are reasonable by American standards and a wide range
(from the inexpensive maquis to elegant Continental restaurants) is
available.
Opinions differ on the subject of tipping in Abidjan. Some recommend
leaving only a nominal amount of change; others suggest leaving at least
10 percent of the bill where service is not already included in the bill
(Service Compris). It is recommended that you tip at least 10 percent
of the bill under reasonable and normal circumstances. Bon appetit!
6. General Advice
Visitors to Cote d'Ivoire should show respect for the flag, the
President, his government and all that he symbolizes. They should stop
for a presidential motorcade, stand for the national anthem, and under
no circumstances destroy or deface a portrait of the President. The
import and unauthorized use of illicit drugs or firearms are
particularly serious offenses.
7. Embassy Assistance
Prior to their trip to Cote d'Ivoire, U.S. business visitors are
encouraged to contact the Commercial Service located at Immeuble Eco
Bank/Paribas, 5th floor, Plateau, Abidjan or the Foreign Agricultural
Service located at Immeuble Tropique Trois, Mezzanine Level, Plateau,
Abidjan (across the street from the U.S. Embassy). The U.S. Embassy is
located at 5, Rue Jesse Owens on the Plateau. For specific contacts,
their U.S. addresses, telephone and fax numbers, please refer to the
Appendix, Section C.
The Embassy of the Cote d'Ivoire in the United States is located at 2424
Massachusetts Ave., N.W., Washington, D.C. 20008, tel: 202-797-0300,
fax: 202-387-6381. The Cote d'Ivoire Mission to the United Nations is
located at 46 East 74th Street, New York, NY 10021, tel: 212-717-5555,
fax: 212-717-4492.
A useful international guide is the KEY OFFICERS OF FOREIGN SERVICE
GUIDE FOR BUSINESS REPRESENTATIVES published by the U.S. Department of
State. It is for sale by the Superintendent of Documents, U.S.
Government Printing Office, Washington, D.C. 20402, Document: 7877.
APPENDICES
A. Country Data:
Area: 124,500 square miles (slightly larger than New Mexico)
Population: 13.2 million. About one-third of Cote d'Ivoire's
population is non-Ivorian, most of them immigrant workers from
neighboring countries such as Mali, Guinea, Burkina Faso, and Ghana.
They have been attracted to Cote d'Ivoire by the country's economic
prosperity and its hospitality toward them, reflected in its relatively
open immigration policies.
Population
Growth Rate: 3.8 percent
Religions: Animists 15-30 percent; Christians 26 percent and Moslems 38
percent.
Government System: Unitary republic. The legal system is based on the
1960 constitution and the Napoleonic Code.
Head of State: Henri Konan Bedie became President following the death
of President Houphouet Boigny on December 7, 1993 as stipulated in the
constitution. The next presidential election will be held in November,
1995.
Prime Minister: Daniel Kablan Duncan who also holds the Economy and
Finance portfolio.
Cabinet: The appointed Council of Ministers consists of nineteen
Ministers sworn in December, 1993.
Key Ministers: Economy and Finance (delegue): N'Goran Niamien
Commerce: Ferdinand Kacou Angora
Mines and Energy: Admiral Lamine Fadika
Equipment, Transport, and Telecommunications: Ezan Akele
Foreign Affairs: Amara Essy
Defense and Marine: Leon Konan Koffi
Agriculture: Lambert Kouassi Konan
National Assembly: 175 elected members
Charles Bauza Donwahi, President
Political Parties
represented: Parti Democratique de Cote d'Ivoire (PDCI-RDA): 165
Front Populaire Ivoirien (FPI): 9
Parti Ivoirien des Travailleurs (PIT): 1
Note: There are twenty-six registered political parties
Languages: French (official), Baoule, Dioula and over 65 other ethnic
dialects
Work Week: Monday-Friday Business Hours: 7:30-12:30 and 15:00-18:00.
Some offices and shops are open on Saturdays during these times.
Climate: Tropical. In Abidjan, the hottest weather is February-April;
the coldest month is August; the driest month is January; the wettest
month is June.
Time: Abidjan time is 0 GMT (Greenwich Mean Time), five hours ahead of
Washington, D.C. - four hours during daylight savings time.
B. Domestic Economy: (USD millions, except as noted)
1994E 1995E 1996E
GDP (current)* 6,700 7,035 7,422
GDP Growth Rate ( percent) 1.7 6.4 6.5
GDP per capita (USD) 500 505 510
Government spending as
percentage of GDP ( percent) 32 30 N/A
Inflation (percent) 32.2 10 5
Unemployment-1988 Census (percent) 7 7 N/A
Foreign Exchange Reserves** 0 0 0
Average Exchange Rate for
USD 1 555 500 480
Foreign Debt (new parity) 20,700 N/A N/A
Debt service ratio (ratio of
principal and interest
payments on foreign debt to
foreign income - pct) 35 N/A N/A
GDP growth rate is embassy's estimate of constant price growth rate.
** Reflects a gross position of a negligible amount and an overdrawn
position in the Central Bank/French Treasury operations account.
Sources:
U.S. Embassy estimates
Institute National de Statistique
EIU Country Reports
World Bank
IMF
C. Trade (USD millions except where noted)
1994E 1995E 1996E
Total Country Exports 2,830 3,011 3,207
Total Country Imports 1,903 2,025 2,156
Exports to the U.S. 114 121 129
Imports from the U.S. 128 138 145
U.S. share of the host
country imports (percent) 7 7 8
Principal U.S. Exports: Rice and wheat, Plastic materials and resins,
Kraft paper, agricultural chemicals, telecommunications equipment
Principal U.S. Imports: Cocoa and cocoa products, rubber, coffee
Côte d'Ivoire Customs Statistics - December, 1993
D. Investment Statistics
1. FOREIGN DIRECT INVESTMENT STATISTICS
Direct foreign investment (DFI) is an important part of the Ivorian
economy. France is overwhelmingly the most important foreign investor.
In recent years, the French have accounted for about one-quarter of the
total capital in Ivorian enterprises. France accounts for about 60
percent of the total stock of foreign investment.
TOTAL STOCK OF DFI
(millions of U.S. dollars)
COUNTRY 1990 (pct) 1991 (pct) 1992 (pct)
(incomplete)
France 426.0 (57.4) 483.7 (61.2) 454.6 (59.5)
United Kingdom 56.4 ( 7.6) 70.6 ( 8.9) 72.8 ( 9.5)
Switzerland 39.4 ( 5.3) 35.0 ( 4.4) 39.0 ( 5.1)
Lebanon/Syria 33.9 ( 4.6) 32.2 ( 4.0) 27.2 ( 3.6)
United States 33.4 ( 4.5) 32.0 ( 4.0) 31.1 ( 4.1)
Benelux 21.6 ( 2.9) 23.9 ( 3.0) 24.3 ( 3.2)
Italy 21.0 ( 2.8) 20.8 ( 2.6) 13.0 ( 1.7)
Germany 12.8 ( 1.7) 12.4 ( 1.6) 12.7 ( 1.7)
Canada 5.5 ( 0.7) 11.3 ( 1.4) 12.1 ( 1.6)
Japan 3.5 ( 0.5) 6.8 ( 0.9) 7.4 ( 1.0)
African countries 20.3 ( 2.7) 32.2 ( 4.1) 29.9 ( 3.9)
TOTAL DFI 742.2 790.1 763.5
Source: Financial database, National Statistics Institute of Cote
d'Ivoire.
Exchange rates used in above: 1990: CFA/F 272=$1
1991: CFA/F 282=$1
1992: CFA/F 265=$1
Notes: Flow data on foreign direct investment, disaggrated by country,
is not available in Cote d'Ivoire. There are no statistics on Ivorian
direct investment abroad. In recent years, the total stock of DFI has
represented approximately 8 percent of Ivorian GDP.
E. U.S. and Côte d'Ivoire Contacts
1. Côte d'Ivoire Contacts:
U.S. Embassy Personnel
U.S. Embassy - Abidjan
Department of State
Washington, D.C. 20521-2010
Tel: 225-21-09-79
Fax: 225-22-32-59
Ambassador Lannon Walker
Deputy Chief of Mission Peter Reams
Mr. Kenneth Kolb, Economic Counselor
Ms. Margaret Hanson-Muse, Commercial Attache
Mr. Jonathan Gressel, Agricultural Attache
The local mailing address is:
Ambassade des Etats Unis d'Amerique
01 B.P. 1712 Abidjan 01,
Cote d'Ivoire.
Trade Associations/Chambers of Commerce
American Chamber of Commerce of the Côte d'Ivoire (AMCHAM)
Mr. Robert Thornton, President
01 B.P. 3394 Abidjan 01, Côte d'Ivoire
Tel: 225-21-46-16
Fax: 225-22-24-37
Chambre de Commerce et de l'Industrie de Côte d'Ivoire
(CCI-CI)
(Ivorian Chamber of Commerce and Industry)
M. Seydou Diarra, President
M. Koffi Konan, Directeur General
6, Avenue Joseph Anoma - Plateau
01 B.P. 1399 Abidjan 01, Côte d'Ivoire
Tel: 225-33-16-00
Fax: 225-32-39-42
Centre de Promotion des Investissements de Cote d'Ivoire (CEPICI)
Mr. Jean-Claude Kouassi, Director General
CCIA Building (5th floor), Plateau
01 B.P. V 152, Abidjan 01, Cote d'Ivoire
Tel: 225-21-40-70
Fax: 225-21-40-71
Federation Nationale des Industries de Cote d'Ivoire
Mr. Pierre Magne, President
CCIA Building (13eme Etage), Plateau
Tel: 225-21-71-42/21-77-27
Fax: 225-21-72-56
Conseil National du Patronat Ivoirien (CNPI)
Immeuble CCIA, (13eme etage) - Plateau
01 B.P. 1340, Abidjan 01, Côte d'Ivoire
Tel: 225-22-69-37 or 22-70-33
Fax: 225-22-70-37
M. Marcel Zady Kesse, President
Ivorian Publicity/Marketing Research Firms
Lintas Abidjan
M. Yannick Merand, Directeur General et Directeur de Creation
Mme. Ginette Cuxac, Directrice Commercial (speaks English)
16 B.P. 1340 Abidjan 16, Côte d'Ivoire
Tel: 225-21-46-78 or 21-80-04 or 21-88-91
Fax: 225-22-81-82
Nelson McCann Erickson
M. Bernard Azria, General Manager
Immeuble CNA - 8eme etage (face Galeries Peryissac)
Plateau, Abidjan
Tel: 225-33-14-77 or 33-14-77 or 21-01-36 or 22-01-43
Fax: 225-22-01-52
Publicite Ocean
Mme. Martine Coffi-Studer, Directeur Agence
M. Fode Kone, Charge d'Etudes (speaks English)
01 B.P. 7759 Abidjan 01, Côte d'Ivoire
Tel: 225-21-84-51 or 22-02-72
Fax: 225-21-86-90
Dialogue Production (video productions)
M. Cyril Durand
Residence les Capucines, Rue Canebiere, Cocody
01 B.P. 2081 Abidjan 01
Tel: 225-44-18-49
Fax: 225-44-61-30
Contact information for advertising in radio and TV:
TV/Radio:
RTI-PUBLICITE
Television Chaine 1 and 2
Mr. Sidiki Aboubakar, Directeur
Tel: 225-32-27-71
Fax: 225-32-41-86
Cinema:
PUBLICITE COTE D'IVOIRE
Mr. Ibrahima Sy Savane, Director
Immeuble Fraternite Matin (220 Logements)
01 B.P. 1807, Abidjan 01, Cote d'Ivoire
Tel: 225-37-04-66
Fax: 225-37-25-45
Bus/Billboards:
PUBLICITE COTE D'IVOIRE
Immeuble Fraternite Matin (220 Logements)
01 B.P. 1807, Abidjan 01, Cote d'Ivoire
Tel: 225-37-04-66
Fax: 225-37-25-45
Weekly Press:
LE GUIDO
Contact: Mlle. Lougbo
Tel: 225-37-06-66
Fax: 225-37-16-67
ABIDJAN 7 JOURS
Contact: Mme Antigny
Tel: 225-35-39-39 or 35-72-23
Daily papers:
FRATERNITE-MATIN
Boulevard du General de Gaulle (220 Logements), Adjame
01 B.P. 1807, Abidjan 01, Cote d'Ivoire
Contact: Madame Wadja
Tel: 225-37-06-66
Fax: 225-37-25-45
LA VOIE
Contact: Mr. Denahoa
Tel: 225-37-68-23 or 37-68-25
LE JOUR
26, avenue Chardy, Abidjan Plateau
Tel: 225-21-95-78
Fax: 225-21-95-80
SOIR INFO
Rue Louis Lumiere, Zone 4C
Tel: 225-25-32-77
Fax: 225-35-85-66
Commercial Banks in Côte d'Ivoire
Citibank
Mr. Robert Thornton, Vice President-Directeur General
28, Avenue Delafosse, Plateau
01 B.P. 3698 Abidjan 01, Côte d'Ivoire
Tel: 225-21-46-10
Fax: 225-21-76-85
Banque Internationale pour le Commerce et de l'Industrie de Côte
d'Ivoire (BICICI) subsidiary of the Banque Nationale de Paris (BNP)
M. Michel Vayssie, Directeur General
Avenue Franchet d'Esperey
01 B.P. 1298 Abidjan 01, Côte d'Ivoire
Tel: 225-20-16-00 or 20-16-02
Fax: 225-20-17-00
Societe Generale de Banques en Côte d'Ivoire (SGBCI)
M. Luc Baras, Directeur General (speaks fluent English)
01 B.P. 1355, Abidjan 01, Côte d'Ivoire
Tel: 225-32-77-06
Fax: 225-20-14-15
Societe Ivorienne de Banques (S.I.B.)
M. Robert Sabatier, Administrateur Directeur General
01 B.P. 1300 Abidjan 01, Côte d'Ivoire
Tel: 225-20-00-00 or 20-00-80 (M. Anghoura/speaks English)
Fax: 225-21-97-41
Ecobank
M. Louis Nallet, Directeur General (speaks fluent English)
01 B.P. 4107, Abidjan, Côte d'Ivoire
Tel: 225-21-10-41
Fax: 225-21-88-16
Banque Paribas
M. Christian Arlot, Directeur General
17 B.P. 9, Abidjan 17, Côte d'Ivoire
Tel: 225-21-30-32 or 21-86-86
Fax: 225-21-88-23
Multilateral Financial Institutions in Côte d'Ivoire
African Development Bank (AFDB)
Ms. Alice Dear, U.S. Executive Director (U.S.E.D.)
Mr. Dan Duesterburg, Alternate U.S.E.D.
Ms. Sheila Herrling, Assistant to the U.S.E.D.
01 B.P. 1387 Abidjan 01, Côte d'Ivoire
Tel: 225-20-40-15 or 20-42-18 or 20-42-82
Fax: 225-33-14-34
The World Bank
Mr. Shigeo Katsu, Resident Representative
Rue Jacques Aka, Cocody
01 B.P. 1850, Abidjan 01, Côte d'Ivoire
Tel: 225-44-22-27
Fax: 225-44-16-87
The International Finance Corporation
Mr. Pierre Bouvary, Resident Representative
Rue Jacques Aka, Cocody
01 B.P. 1850, Abidjan 01, Côte d'Ivoire
Tel: 225-44-22-27/44-32-44
Fax: 225-44-16-87/44-44-83
Africa Project Development Facility (APDF)
Mr. Robert Shakatko
01 B.P. 8669, Abidjan 01, Côte d'Ivoire
Tel: 225-21-96-97
Fax: 225-21-61-51
2. Washington, D.C. Contacts for Cote d'Ivoire
U.S. Government Agencies
U. S. Department of Commerce
14th and Constitution Aves., N.W.
Washington, D.C. 20230
International Trade Administration/Office of Africa
Philip Michilini, Desk Officer - Côte d'Ivoire
HCHB Room H3318
Tel: (202) 482-4388
Fax: (202) 482-5198
Multilateral Development Bank Operations
Ms. Brenda Ebeling, Director
HCHB Room H1107
Tel: (202) 482-3399
Fax: (202) 273-0927
U.S. Department of State
Africa Bureau-AF/W
Room 4250
Richard Appleton, Desk Officer - Côte d'Ivoire
Washington, D.C. 20520
Tel: (202) 647-3066
Fax: (202) 647-4855
U.S. Department of Treasury
1500 Pennsylvania Avenue, N.W.
Washington, D.C. 20220
Mr. Ed Barber
Office of the Assistant Secretary of Int'l Affairs
IDB Room 5400
Tel: (202) 622-1231
Fax: (202) 622-1228
U.S. Department of Agriculture
Foreign Agricultural Service
14th & Independence Ave., S.W.
Washington, D.C. 20250
Trade Assistance and Promotion Office
Tel: (202) 720-7420
Fax: (202) 690-4374
U.S.A.I.D. AFR/ONI
Mr. Douglas Jerome Brown,
Agribusiness Advisor
1111 N. 19th Street, Rm. 210
Rosslyn, VA 22209
Tel: (703) 235-9082
Fax: (703) 235-5423
Overseas Private Investment Corporation (OPIC)
Mr. Michael Delia, Senior Investment Officer
Ms. Dureka Lang, Regional Manager, Insurance
811 Vermont Ave., N.W.
Washington, D.C. 20521
Tel: (202) 336-8495
Fax: (202) 408-9866
U.S. Trade and Development Agency
Mr. John Richter, Regional Director for Africa
1815 N. Fort Meyer Drive
Rosslyn, VA 22209
Tel: (703) 875-4357
Fax: (703) 875-4009
Export Import Bank of the United States (EXIM BANK)
Ms. Ann Marie Emmett
Loan Officer for Africa
811 Vermont Avenue, N.W., 7th Floor
Washington, D.C. 20571
Tel: (202) 566-8008
Fax: (202) 566-7524
TPCC Trade Information Center
Tel: (800) USA-TRADE
U.S. Based Multilateral Financial Institutions
The World Bank
1818 H Street, N.W.
Washington, D.C. 20433
Tel: (202) 477-1234
Fax: (202) 477-6391
The International Finance Corporation
1818 N Street, N.W.
Washington, D.C. 20433
Tel: (202) 477-1234
Fax: (202) 477-3112
Multilateral Insurance Guarantee Agency (MIGA)
Dr. Kenneth Kwaku
1818 H Street, N.W.
Washington, D.C. 20433
Tel: (202) 473-3075
Fax: (202) 477-6391
Africa Growth Fund
1850 K Street, N.W., Suite 390
Washington, D.C. 20006
Tel: (202) 293-1860
Fax: (202) 872-1521
F. Market Research
A complete list of market research is available on the NTDB. Beginning
October 1, 1994, the Commercial Service has filed the following IMI
reports also available on the NTDB:
Title Date
Transportation Costs: DHL** December 1995
Business Climate and the New Investment Code December 1994
Cellular Telecommunications Update January 1995
The Ivorian Stock Exchange March 1995
African Trade Finance Facility** April 1995
Used Medical Equipment May 1995
Electric Power Generation (Cote d'Ivoire/Ghana)** May 1995
The Ivorian Investment Promotion May 1995
Generic Pharmaceutical Products** May 1995
Country Commercial Guide - Cote d'Ivoire June 1995
** Denotes a regional report
Reports in process include:
The Ghana Stock Exchange**
CI-Telcom: 1995 Guide
Privatization in Cote d'Ivoire
Business Climate: The New Mining Code
Business Cost Comparison: Cote d'Ivoire vs. Ghana**
The Ghana Investment Promotion Center
Reports produced by the Office of Agricultural Affairs, Abidjan include:
--Oilseeds & Products Annual
--Cocoa Annual & Semi-Annual
--Coffee Annual & Semi-Annual
--Cotton Annual
--Grain & Feed Annual
--Forest Products Annual
--Agricultural Situation Annual
--Annual Marketing Plan Information Report
--Foreign Buyer List Annual
These reports are available for purchase from:
Reports Office, Rm 6072 South
USDA, Foreign Agricultural Service
14th & Independence Ave., S.W.
Washington, D.C. 20250
Tel: (202) 720-6136
Fax: (202) 720-7729
G. Trade Event Schedule
Regional Foreign Buyer Program (FBP) Trips:
Event Name: California Farm Equipment Show
Event Date: February, 1996
Industry Theme: Agriculture
Type of Event: Foreign Buyer Program
Location: Tulare, California
Recruiter's Name: Emmanuel Morrison
Tel: (225) 21-09-79, 21-46-16
Fax: (225) 22-24-37, 22-32-59
Event Name: PC Expo '96
Event Date: June 1996
Industry Theme: Computers
Type of Event: Foreign Buyer Program
Location: New York, New York
Recruiter's Name: Emmanuel Morrison
Tel: (225) 21-09-79, 21-46-16
Fax: (225) 22-24-37, 22-32-59
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