Economic relations

Côte d’Ivoire is our leading trading partner in the Franc area and the fourth-leading partner in Sub-Saharan Africa. However, during the first half of 2008, France lost its position as Côte d’Ivoire’s leading trading partner and supplier to Nigeria, as a result of the oil effect.

The big French groups that traditionally have a presence in Africa are for the most part active in Côte d’Ivoire through subsidiaries. There are approximately 140 French subsidiaries that employ close to 40,000 people and about 500 French SMBs doing business under local law, which is the biggest number of French sites in Sub-Saharan Africa. The turnover of French companies, subsidiaries, with local involvement or local status set up in the country accounts for approximately 30% of the GDP and 50% of tax revenues.

Like all of the companies in the formal sector, they are evolving in a difficult environment, with no visibility: decline in purchasing power (pauperization and urban concentration, in particular in the economic capital, Abidjan) and increased inequalities, deterioration of infrastructures, deteriorating business environment, growing informal sector, weakness of the State and its administration.

Côte d’Ivoire receives considerable support from France in international financial bodies. Following the debt restructuring agreement Côte d‘Ivoire signed with the Paris Club on 15 May 2009, France signed a bilateral restructuring agreement with Côte d‘Ivoire on 9 December 2009, which is resulting in the cancellation of $455M of debt, rescheduling of $697M, and deferment of $2.2b.

Link to the economic mission : http://www.tresor.economie.gouv.fr/se/cotedivoire/

^{Updated on 15.09.10}