Equatorial Guinea: Trade Profile Equatorial Guinea is open to trade, which accounted for 88% of its GDP (World Bank, latest data available). The country is working to reduce non-tariff barriers and its relatively high customs duties. Administrative procedures and corruption are other big obstacles to a good performance of trade and business.
For imports, duty payments may be required based on the value of the goods, while exports may involve ensuring that all items adhere to both local and international regulations. Proper adherence to these customs procedures is crucial for any business looking to operate effectively within Equatorial Guinea’s trade landscape.
Due to its rich natural resources, particularly in oil and gas, Equatorial Guinea has positioned itself as an emergent player in global trade, particularly within the Central African region.
Equatorial Guinea is a member of several regional and international trade organizations, including the African Union, the Economic Community of Central African States (ECCAS), and the World Trade Organization (WTO).
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