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Business Profile
Economy: Oil reserves and mineral deposits have allowed Gabon to develop into one of Africa’s more successful economies. Half of GDP comes from the oil industry, but there are also significant mining operations producing manganese and uranium. There are confirmed deposits of iron ore (which are substantial) and also a number of rare metal ores. There is a small manufacturing base engaged in oil refining and the production of plywood, paints, varnishes and detergents, dry batteries, cement, cigarettes and textiles. Future industrial growth in this sector is likely to be limited by a shortage of skilled labour, high costs and inadequate infrastructure.
Meanwhile agriculture remains important, as it still employs two-thirds of the working population. Gabon produces coffee, sugar cane, rubber and some other cash crops – also cassava and maize for domestic consumption. Both the timber and fishing industries, while making strong contributions to the national economy, may be the subject of future expansion as export earners, although timber production is likely to be limited by environmental concerns. Like all primary producers, Gabon remains vulnerable to fluctuations in commodity prices.
Gabon is a member of the Central African economic and customs union (CEEAC) and of the CFA Franc Zone. In June 1996, Gabon announced its withdrawal from OPEC, after 23 years’ membership. The country’s main trading partners are in the industrialised West, with the USA the largest, followed by France, Japan and Germany.
Business: Tropical suits are required. French is the principal language used in business circles. Translators and interpreters are available through the Embassy. Strong business ties remain with France despite competition from the USA and Japan. Office hours: Mon-Fri 0730-1200 and 1430-1800.
Commercial Information: The following organisations can offer advice: Chambre de Commerce, d’Agriculture, d’Industrie et des Mines du Gabon, BP 2234, Libreville (tel: 722 064; fax: 741 220).
Conferences/Conventions: Further information can be obtained from the Chambre de Commerce, d’Agriculture, d’Industrie et des Mines du Gabon (address as above).
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