Tuesday, May 3, 2011

Equatorial Guinea Enhancing Agricultural and Economic Sector

Ministry of Agriculture and Forestry Leads Promotion and Development of Private Sector

Equatorial Guinea’s (Republica de Guinea Ecuatorial) Ministry of Agriculture and Forestry, led by Teodoro Nguema Obiang Mangue, recently chaired the Chamber of Commerce Forum between the Chambers of Equatorial Guinea and the economic entities to discuss the promotion and development of the private sector.

Agriculture as well as the private and economic sector development are at the forefront of Equatorial Guinea’s efforts to diversify its economy and meet the goals of the government’s Horizon 2020 development plan. The country is working to become an emergent and sustainable economy by 2020.

The meeting focused on the importance of the Chamber of Commerce of Equatorial Guinea, trade, commerce and inflation, and the rights and obligations of employers and employees. By developing the private and economic sector, Equatorial Guinea is ensuring an enduring national economy that will lead to further business development in the country.

Equatorial Guinea’s fertile soil and tropical climate are conducive to high yield agriculture. The country produces a diversity of crops today, including coffee and cacao and other products such as lumber and coconut oil. The country also has extensive coastline and fisheries and untapped mineral resources.