Trade

Historically Gambia is a liberal trade country with an open door policy for friends of the Gambia and other foreign investors keen on doing business and commerce. It is still relatively considered the “supermarket” of neighbouring countries that come to buy goods for onward shipment to their countries. In order to consolidate and strengthen on these benefits, the country is seeking to broaden its comparative advantage with lower tariffs and trade restrictions for foreign investors. Recent reviews on taxes and/or tariffs have seen a significant reduction to an all time low of 18% with a grouping of tariff bands into 4 economic groups.

Fruits and vegetable produce in the Gambia

Infrastructure
In promoting trade and commerce, the country has embarked on a series of projects to improve her infrastructure to a more business friendly environment, hob for a light scale manufacturing, financial centre, world-class tourist resort and a vibrant private sector.
Over the years, the airport as well as the seaport and roads have been fixed and upgraded to a better standard. Suffice to say, telecommunication is in excellent condition while Information Technology (I T) is taking a steady growth as the world become a global village.

Wooden crafts made in the Gambia

Human Resources
To compete effectively in this 21st century, a highly skilled and trained workforce is the way forward. In essence, new labour policy and programmes are being developed to address some of the challenges facing developing nations.

1. Establishing and setting up labour information systems
2. Establishing and implementing a safety net and social security framework
3. Strengthening and developing the capacity of vocational centres to labour demand
4. Science and Technology policy

Investment
The Gambia is on course to become an investment safe heaven, which is in line with its macroeconomic policies and her integration into World Trade Organisation (WTO), The World Bank Group, and African Development Bank. Needless so say, the investment mechanism is based on free market framework.
With Elegance magazine, our readership will be keep up-to-date with trade sound bites that they will find useful for their business ventures.

Fra barber