Guinea-Bissau - Cashew and Beyond : Diversification Through Trade - Diagnostic Trade Integration Study for the Enhanced Integrated Framework for Trade-related Technical Assistance
Guinea-Bissau is highly dependent oninternational trade even when compared to other nations ofits size and income level. However, it is equally clear thatthe country could derive far more benefit from itsinternational trade opportunities than it does at thepresent time. This study examines how to do this, lookingnot only at trade policy, the investment climate, andinfrastructure, but also five key sectors where specificopportunities exist. There are three recommendations whichstand out as having a particularly important and pervasiveeffect on trade and its potential role in raising incomesand reducing poverty. Indeed, they can be regarded aspreconditions for significant progress. Eliminating thebureaucratic obstacles to doing business is a prerequisitefor any growth in private investment in the country.Guinea-Bissau ranks near the bottom of the World Bank'sannual Survey of Doing Business, reflecting the extremelydifficult bureaucratic and legal maze that must be dealtwith by any entrepreneur seeking to operate a business inthe country. This situation not only militates againstprivate investment in any but resource extractionindustries, but also makes even the simplest import/exportoperation an exercise in bureaucratic navigation. It is ofprimary importance that the job of formulating andimplementing economic policy be put on a more stable andlong term basis The extreme instability inGuinea-Bissau's government has meant that cabinetministers and lower officials change on an annual or evenmore frequent basis. This situation makes long term planningand sustained implementation virtually impossible and theformulation of coherent policy equally difficult.
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