Guinea Bissau is a LDC in Western Africa situated between Guinea and Senegal. The country is the latest member to join the West African Economic and Monetary Union (WAEMU) and is also a member of the Economic Community of West African States (ECOWAS). Guinea Bissau’s economy heavily relies on agriculture and excels in the export of cashew nut, peanuts, palm kernels but also fish, shrimp and sawn lumber. Its major export partners are India, followed by Nigeria and Togo.
Socially, the country has been impacted by a period of political instability which has greatly affected its economy. Guinea Bissau scores very low on UNDP’s Human Development Index but is expected to make tremendous progress thanks to the government’s efforts to diversify its economy. In this regard, ITC expertise has been requested to enhance the country’s trade capacities particularly for agricultural commodities. It had already received ITC assistance under PACT2 in its activities concerning the ECOWAS zone. Furthermore, Guinea Bissau abundant resources of minerals such as gold and bauxite and also oil, are still not efficiently exploited due to lack of adequate structures. They constitute another viable path for the country’s quest for a diverse economy.