Ivory Coast opens up for Czech companies and investors
Ivory Coast opens up for Czech companies and investors
14.11.2023 / 16:43 | Aktualizováno: 09.12.2023 / 11:32
From an economic point of view, Côte d'Ivoire is among the fastest growing African economies and is the largest economy in Francophone Africa. Côte d'Ivoire's economy accounts for a third of the GDP of the West African Economic and Monetary Union (WAEMU) and more than 40% of the zone's exports. Its population of 27 million makes up about 21% of the total population of the aforementioned grouping, making it one of the strongest in the West African sub-region and remains a favorable destination for foreign investors in the area. The Ivorians have long sought to diversify their foreign partners, which is why Czech quality products and modern technologies are and will be a welcome option and enrichment of the local market. The historically first visit of the Prime Minister of the Czech Republic together with a business delegation only strengthened the interest in establishing and developing business cooperation with the Ivory Coast.
Following the interest in Czech products and technologies indicated by the Ivorian side, the Prime Minister of the Czech Republic, Mr. Petr Fiala, visited Abidjan on 9-10 November 2023, accompanied by representatives of the Union of Industry and Transport of the Czech Republic, the Association of Manufacturers and Suppliers of Medical Devices, EGAP, and Czech companies Šeda Africa Group, LINET, MDP Geo, IQS Group, Compelson, Resilient, Czechoslovak Ocean Shipping, Colt Cz Group, PBS Velká Bíteš and Excalibur International. It was the first official visit at this level in the past 60 years (!). The trip took place in the context of Russian aggression against Ukraine, and the negotiations reflected the current needs of the Czech Republic's raw materials policy as well as the partners' long-term interest in diversifying the economy and modernizing the infrastructure.
During a series of meetings with the country's vice president and the ministers of defense, agriculture and rural development, finance, health, and representatives of chambers of commerce, the Ivorian side repeatedly indicated an interest in cooperation with Czech investors and potential suppliers of products and technologies in the above-mentioned sectors.
Côte d'Ivoire has an intensive demand for the import of food products, especially intermediate products and semi-finished products due to the limited choice of products provided by an underdeveloped domestic agricultural and food sector. Although Côte d'Ivoire is self-sufficient in the production of a number of crops, it lags behind in the field of processing, as it lacks adequate knowledge, technology and machinery for this, and is therefore dependent on the import of semi-finished or finished foods. The main sectoral opportunities for Czech exporters and investors in the field of agriculture and the subsequent processing sector can be considered:
- in the field of plant production: supply of quality varieties and seeds; pressing and other machines for processing fruit, especially mangoes, pineapples, bananas and nuts (coconut, shea nut, palm fruits, oils, etc.) and bio-waste (peels, shells); crop production processing technology; feed production; irrigation systems and water purifiers, technologies for the industrial use of biowaste.
- in animal production: supplies of genetic material (cattle, poultry), feed, veterinary vaccines and medicines; meat processing machines; refrigeration technology, aquaponics, supplies of dairy products, etc.
The goal of the Ivorian government is not only to export primary raw materials such as cocoa and coffee, but to export value-added goods. Czech technologies in this direction certainly have something to offer the local market. On the export side, Czech goods often reach the region through other foreign, usually European, suppliers, which represents an easier path for Czech (sub)suppliers, and also proves that it is possible to apply even in this feared market.
Healthcare is also an area in which cooperation has already begun to develop following the successful Health Forum Africa, which took place in May 2022 in Prague with the participation of representatives of the Ivorian Ministry of Health. The possibilities of continuing the supply of Czech medical products to local hospitals were discussed. LINET has already successfully implemented the first orders in this area.
The development of infrastructure, especially the transport network, continues to be a priority for Abidjan – the company IVECO Czech Republic can also speak of success here, which already supplies the capital city of Pobreží with buses providing mass transport; and power grid development and water treatment and waste management – technology and machinery.
Czech-Ivorian business forum
The seminar was held in cooperation with the Embassy of the Czech Republic in Ghana and the Chambre du Commerce et d'Industrie de Côte d'Ivoire (CCICI). The main business partners of the forum were the Union of Industry and Transport of the Czech Republic and CCICI. During the seminar, the presidents of both business entities, Mr. Jan Rafaj for the Czech side and Mr. Faman Touré for the Ivorian side, solemnly signed the Memorandum of Understanding on mutual cooperation, which is a formal stepping stone for the development of cooperation between the two entities.
The main sectors that the forum focused on were agriculture and processing, healthcare, security technology and geological services.
After the official opening words of the ambassador of the Czech Republic in Ghana Mr. Füry, the presidents of both chambers, the Ivorian Minister of Agriculture, Rural Development and Food Mr. Kobenan Kouassi Adjoumani and the Prime Minister Petr Fiala, the Union of Industry and Transport of the Czech Republic and the Association of Manufacturers and Suppliers of Medical Devices presented their activities, and for the Ivorian side, the Investment Promotion Center (Centre de Promotion d'Investissement) and the National Committee for the Management of Public-Private Cooperation (Comité national de Pilotage des Partneriats Public-Privé). The Czech companies Šeda Africa Group, LINET, MDP Geo, IQS Group, Resilient, Czechoslovak Ocean Shipping, EGAP and ČSOB continued with presentations of their products. Subsequent B2B negotiations with numerous representatives of Ivorian companies and associations proved that the Ivorian side is very interested in establishing business cooperation.
Representatives of the defense and security sector presented their products at the General Staff of the Ivory Coast. This sector offers interesting potential for trade exchange and has a lot to offer Ivorian partners with its scope.
Côte d'Ivoire is very open to new foreign partners and the Czech Republic, as it certainly has a lot to offer, should not miss this opportunity to establish a meaningful and long-term bilateral relationship with this resource-rich country.
Author: Mgr. Beata Matusiková, MBA, economic diplomat, Embassy of the Czech Republic in Ghana
