The New Nation - Internet Edition

Major Mirza Mahbub

Cote d'Ivoire aka Ivory Coast is a West African Country; a little more than twice the size of Bangladesh with only 20,000,000 population. Almost half of the population lives in the commercial capital Abidjan. The country has an equatorial climate much like spring time in Bangladesh with temperature averaging from 27-34 degrees Celsius all year round. The country has a surprisingly sophisticated infrastructure in relation with other neighboring countries and its commercial capital Abidjan is considered as the Manhattan of West Africa. The GDP is about 1600 USD and the value of the CFA is rising on a daily scale as it's pegged with Euro. Also the prospect of election in 2008 is making a positive effect in the burgeoning economy. The country is the world's largest coffee and cacao exporter and other exportable commodities include banana, rubber, palm oil, pine apple, mango, timber, cement and surplus electricity etc. But their import is mostly form European countries with French predominance. They import almost every type of consumer products and everything is almost three times higher in price than the similar commodity found in Bangladesh. There are two ports in Ivory Coast and the northern landlocked countries depend on the facilities provide by Abidjan port for their imports.

Aim: The aim is to highlight Bangladeshi business potentials in West Africa.

Economic and political situation : The Ivorian economy depends largely on its two major exportable commodities that is coffee and cacao and therefore the rise and fall of the international market price of those commodities directly affect the Ivorian economy. They have very small industrial base and the land use is also only 11%. The service sector is developing but their dependence on French language for business is a problem for non French speaking countries to do business here in Ivory Coast.

The political situation is on a stalemate and the prospect of election is not very bright. But that is not stopping the economy to take a boom as people in general are getting more and more interested in doing business, particularly after the tax structure is modernized and simplified to cope with the international business practices. There is an excellent business climate prevailing here particularly favorable for Bangladeshi businesses as there are virtually no Bangladeshi commodities to be found and all these products are less in quality and at least three times higher in price that that of the exportable commodities found in Bangladesh.

The Ivorian people also like the Bangladeshis very much as the peacekeepers deployed here try very hard to keep an amiable and congenial environment in their respective area of responsibilities. The people in general hold a high esteem about the people form Bangladesh and they also comment while they pass by saying 'Bangla good' or words to that effect. So, the situation for Bangladeshi exporters looks very promising and it will only be a matter of time to get a firm foothold of Bangladeshi products base here if we don't make delay in exploring the markets here. Otherwise, the market is surely going to be captured by other countries with less quality but by aggressive marketing capabilities.

Prospects of Bangladesh and Ivory Coast import-export possibilities: The Ivorians import everything form Europe, Turkey, China or from Lebanon. These commodities are either not good in quality when the price is less and the costly commodities are having a very high price tag. On the other hand, Bangladeshi products are world standard in quality and also very competitive in price structure.

Since our business communities don't have much idea about the West African economy, the market is not yet explored by our business communities. But the situation is now highly favorable for Bangladeshi businesses and with perhaps an exposition of Bangladeshi exportable items can really open doors for Bangladeshi products to enter into a new market which is quite large and growing.

Predicted Difficulties: There are of course difficulties which are mostly initial and once the tempo of export can be established, the temporary hurdle will be easily overcome. The language can be a problem for Bangladeshi exporters.

But this problem too can also be minimized once there will be an exposition and when the Ivorian and the West African people will see with their own eyes how good our products are, the language barrier will be solved by their own interest.

The unusual shipping route can also be costly and time consuming. But that too can be easily rectified once the supply route will open and regular shipment from and to Ivory Coast starts taking place.

Recommendations: The following recommendations can be looked into:

1. Establishment of Diplomatic relationship can make the situation favorable for the long haul.

2. Temporarily appointing a consul general from Bangladesh in Ivory Coast can also help the business situation develop.

3. Arrangement can be made to hold a general exposition of Bangladeshi exportable items in Abidjan for which the Ivorian Prime Minister's investment wing the CEPICI is already interested and made a team to study the feasibility of such an exposition from Bangladesh. They are as a matter of fact waiting for an official letter of intent from Bangladesh to hold a general exposition in Abidjan. Our Export Promotion Bureau can act upon these possibilities.

4. A team comprising business experts, officials with the government's interest to hold a Bangladeshi general exposition and also the teams request to meet the Prime Minister and the President of Ivory Coast to make bilateral favorable situation for business can be beneficial for both the countries and also for the whole of West African countries.

5. Bangladesh can also ask the government of Ivory Coast to open an embassy at Dhaka which will be beneficial for both the countries.

6. To make the Africans know more about Bangladesh, a cultural team may be sent to hold an open air concert in Abidjan side by side advertisement can also be aired by the sponsoring organizations that may also come to explore the opportunities.

7. One of the first and foremost requirements is a landing station for Bangladeshi business people to come and stay for a short duration to assess the market potentials. This house can be hired by the business organizations like the Bangladesh chamber of commerce, furnished and complete with all business amenities like television, cooking, a freezer, security, a car with driver (local), an interpreter and the secretarial services like the telephone, internet and printing facilities in house.

A hotel can cost more and offer less business insight than a bilingual business graduate, with marketing major who can show them a lot of market data and inform them about the local business practices. The businessmen from Bangladesh will get a one stop service from this house like visa assistance, habitual accommodation, kitchen and a fridge, television and more importantly; local insight from the in-house expert who will show them around, brief them about the market in general and take them to the appropriate government and business organizations in Abidjan's Plateau area that the Bangladeshis present here call Motijheel! on here in the West Africa can be exploited by the Bangladeshi exporters only with the government support as the business communities have no knowledge about the West African business potentials.

Therefore the governmental intervention and assistance can really help our business to get a major market share here in West Africa. Time is running out and as there are a lot of Bangladeshi people already stationed here as peacekeepers and we have a favorable lookout from the local people, it's a good time to start business with West Africa; may be initiated by a general exposition of Bangladeshi exportable products.