Thursday, August 23, 2018

Equatorial Guinea President Highlights Importance of Economic Diversification

The President of the Republic of Equatorial Guinea, HE Obiang Nguema Mbasogo, highlighted the importance of economic diversification during a recent visit to Malabo by the President of the Gabonese Republic, HE Ali Bongo Ondimba.

The two heads of state also discussed projects to revitalize the economic development of the Economic and Monetary Community of Central Africa (CEMAC) and called for an urgent summit to approve such projects. 

Equatorial Guinea and Gabon also agreed to strengthen the peace and security of Central Africa and highlighted the efficacy of the Treaty of Friendship and Good Neighbor, signed between the two countries in 2013.

Equatorial Guinea’s capital, Malabo, is currently the seat of CEMAC Parliament, which is the legal and political forum for the organization, whose mission is the promotion of free trade, the institution of a common African market, and development of the standard of living through economic stability and cooperation.

Equatorial Guinea became a full member state of CEMAC in 1983, joining Angola, Burundi, Cameroon, the Central African Republic, Chad, the Republic of Congo, the Democratic Republic of the Congo, Gabon, São Tomé and Príncipe, and Rwanda.