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President Mugabe, Nguesso to meet

27 Apr, 2014 - 00:04 0 Views

The Sunday News

Gabriel Masvora Business Editor
PRESIDENT Mugabe and Congo Brazzaville head of state Denis Sassou Nguesso will soon meet to explore and sign trade agreements which the two countries were supposed to discuss during last week’s Zimbabwe International Trade Fair, signalling the start of economic relations between the two countries.

President Sassou Nguesso was supposed to officially open the fair last week but could not make it due to a pressing issue affecting the Central African Republic.

However, the country sent a powerful delegation that included a number of companies that took part at the exhibition.

Speaking after meeting President Mugabe on Friday at the country’s stand, special envoy to President Sassou Nguesso, Mr Léon Raphaël Mokoko who is also the country’s Deputy Minister in charge of Planning said he had told the President that his boss was still keen to meet and push for a number of trade initiatives between the two countries.

“I met President Mugabe and explained to him why our president could not come now,” he said through an interpretor.

“However, I told him that President Sassou Nguesso is still keen to meet him to look at a number of trade initiatives. We want to strengthen relations between the two countries.”

He said some of the areas the countries were keen to exploit were in training and education and the general economy.

The two countries, according to Congo Brazzaville ZITF stand manager Mr Romuald Endzandza, had no existing trade relations prior to the fair.

Speaking during the official opening of the fair, President Mugabe thanked Congo Brazzaville for exhibiting at the fair for the first time.

Congo Brazzaville is the first francophone country that was taking part at the premier event.
According to the African Economic Outlook Congo Brazzaville is one of the most promising economies in Africa.

In 2012 Congo-Brazzaville’s GDP was $6,983 billion.
The economic think tank said the country’s economy was projected to grow by 5.1 percent in 2013 and 5.3 percent this year up from 4.9 percent in 2012.

Congo-Brazzaville’s economy is predominantly manufacturing-based. Agriculture accounts for 3.38 percent of GDP and employs 35.40 percent of the population.

The manufacturing and industry accounts for 76.63 percent of GDP and employs 20.60 percent of the population.

Services accounts for 44.60 percent of the GDP and employs 35.70 percent of the population.
The country’s total exports in 2010 were $6.92 billion while its total imports were $4.37 billion.

Congo-Brazzaville’s government revenues are 42.62 percent of GDP while its government spending is 36.17 percent of GDP.

The Government runs a surplus of 6.46 percent of GDP. Net government debt is 26.18 percent of GDP.

Congo-Brazzaville’s currency is the CFA Central Franc. The country has a population of 4.65 million people.

 

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