Economic relations

France is the third-leading supplier, after China and Côte d’Ivoire, from which all of the oil products sold in Guinea come. It is also Guinea’s second-leading customer. Our sales to Guinea stood at €160M over the first ten months of 2008 (+4.4%, 102nd customer) against €115M in 2007. Our purchases stood at €50M over the first ten months of 2008. The trade balance, which showed a surplus for France, stood at €65M in 2008 (€36.1M in 2007). Our sales are made up primarily of “professional capital goods” (25% of the total), “intermediate goods” (13%) and agricultural products and food industries (13%), plus pharmaceuticals (€17.4 M). Guinea exports its mineral products (70% of the total) to France. Our imports stood at €50M over the first ten months of 2008.

Seventy French companies, including 25 subsidiaries, are established in Guinea, primarily in the following sectors:

  Banking (BNP-PARIBAS, Société Générale, Groupe Financial),
  Insurance (AXA-UAP),
  Sea transport services (Bolloré, SAGA, SDV, SOCOPAO),
  Oil distribution (TOTAL-FINA-ELF)
  Automobile (PSA-Citroën, Renault),
  Air transport, airport facility management (Air France, SOGEAC),
  Pharmaceuticals (Euro Pharma),
  Hotel industry ( ACCOR),
  Public works (SATOM/SOGEA, AUDEMARD),
  Auditing and consulting (Ernst Young),
  Telecommunications (ALCATEL).

Many small businesses subject to local law belong to French citizens, associated with Guinean partners or not. They play an active role in France’s economic presence (restaurant industry, vehicle sales and leasing, construction and maintenance, IT, shipping, etc.). Moreover, the company, Technip, is a member (for about €400M) of the consortium led by Global Alumina, which has signed a $1.5b contract for the production of alumina.

Updated on 10.07.09