Addis Ababa, 30 October 2014 (ECA) - Guinea Bissau should take advantage of the stability and unanimity of its post-electoral period, which can now be translated into economic opportunities and possibilities, said Carlos Lopes, Executive Secretary of the Economic Commission for Africa during an official visit of the central African nation on 17-18 October.
The Government of Bissau had requested ECA’s support in the preparation and discussion of the country's Development Plan, in order to both reposition itself in the international agenda and mobilize international interest and resources.
“Changing the image of the country in order to revert the negative perception caused by the political turmoil of the past could be the cornerstone to rapidly attracting investment in the country,” said Mr. Lopes.
Moreover, Guinea Bissau’s position as a Small Island Developing State with the largest insular area (80 islands), endowed with fertile arable land, a rich coastline and a unique biodiversity offers the country opportunities to mobilize resources from donors, which would be allocated to boosting key economic sectors.
“It is crucial for Guinea Bissau to develop, as national priority, a strategy for the transformation of its cashew nuts - a major source of export earnings of the country. Another priority is the need to boost agriculture productivity and agribusiness as not only a source of increasing the national GDP, but also as a mean of creating jobs,” the Executive Secretary said.
Guinea Bissau’s unique biodiversity and rich maritime coast offer the country the possibility to invest in fishing while applying rigorous control mechanisms established for international fishing licenses.
He noted that regional integration opportunities should not be neglected as the country, which has a a convertible change - Franc CFA also in use in Guinea Bissau - can benefit from strengthening its economic relationships with countries in the region who share the same currency.
Mr. Lopes also said that it would be crucial for the country to transform informal trade and create an organized system of both taxation and customs, which would increase revenues for the country and generate at the same time jobs for the peoples.
“All these elements, comprised in a strategic vision for the country, require, as a sine qua non condition, serious investment in the energy sector.” he said.
During his visit, the Executive Secretary had an audience with the President of the country, Mr. José Mário Vaz and with the Prime-Minister, Mr. Domingos Simões Pereira. A meeting was also held with the African Union Representative in Guinea-Bissau, Mr. Ovídio Pequeno.
While in the country, the Executive Secretary also delivered a key note address in the Conference “Desafios contemporâneos de África” (Contemporary challenges of Africa), which took place in the Centro Cultural Franco-Bissau-Guineense, an event during which an announcement was made of the creation of the “Carlos Lopes’Award” (Prémio Carlos Lopes). The award would go towards support for research scholarship on subjects related to Guinea-Bissau in the University of Guinea
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