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Business Profile
Economy: The economy of The Gambia is basically agricultural, with groundnuts (in the form of nuts, oil and cattle cake) accounting for 50 per cent of total exports. Cotton and citrus fruits are also cultivated for export. Forestry and fishing are also important. Rice, millet and maize are the main staples, but The Gambia must import large quantities of rice along with various other foodstuffs and petroleum products. There are no viable mineral deposits although surveys have located some oil deposits. The small industrial sector is dominated by agro-industrial activities; drinks and construction materials are produced for the domestic market. After a disastrous spell following the 1994 coup, tourism is once again a viable generator of foreign exchange, and has performed relatively well since then. Principal markets for exports are Belgium, Luxembourg, Japan and Guinea. Government economic strategy aims to position The Gambia as a regional hub for trade, based on an important re-export trade (mostly of Senegalese goods) as well as finance and telecommunications. Substantial infrastructural progress has been made (such as the construction of schools and hospitals, a new airport terminal and modernised port facilities). International aid remains essential to the health of The Gambia’s economy.
Business: Businessmen wear jackets and ties for business meetings. A personal approach is important in Gambian business circles. Punctuality is appreciated and it is advisable to take business cards, although their use is not widespread. Office hours: Mon-Thurs 0800-1600, Fri 0800-1230.
Commercial Information: The following organisation can offer advice: Gambia Chamber of Commerce and Industry, 59 Buckle Street, Banjul (tel: 227 765 or 227 042; fax: 229 671; e-mail: gcci@qanet.gm; website: www.gambiachamber.gm).
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