Equatorial Guinea

Political relations

Relations between France and Equatorial Guinea, which date back beyond the discovery of hydrocarbon deposits within the country, first developed as bilateral cooperation, before expanding under the Franc zone and Francophonie, from the 1980s. Since 1997, French has been one of the official languages of Equatorial Guinea.

In 2017, following a complaint by the NGO Transparency International, the Paris Criminal Court recognized Teodoro Nguema Obiang Mangue, current Vice President and son of the Head of State, guilty of laundering of social assets, misappropriation of public funds, breach of trust and corruption. In its deliberations of 10 February 2020, the Paris Court of Appeal increased the sentence handed down in the first instance, lifted the stay on the €30-million fine, and confirmed the three-year suspended prison sentence, as well as the confiscation of seized goods. However, it acquitted Teodorin Obiang of money laundering and corruption. With regard to this case, Equatorial Guinea instituted in June 2016 legal proceedings against France before International Court of Justice (ICJ). The ICJ declared itself competent to take cognizance of the aspects of the dispute relating to the status of the building at 42, avenue Foch in Paris having been seized (criminal asset forfeiture) by the French justice system and that Equatorial Guinea presents as housing its embassy in France.

Economic relations

The French presence in Equatorial Guinea is considerable, with a foreign direct investment stock of €121 million in 2018 (versus €116 million in 2017). There are 12 French subsidiaries in the country, including Total Distribution, CFAO, Accor, Bouygues, Vinci, Razel, Société Générale, Castel, Air France, and Bolloré Africa Logistics.

French exports dropped in 2019, after a renewed rise in 2018. They have globally fallen these last ten years. Imports from Equatorial Guinea only totalled €3.4 million. As a result, there is a trade surplus of €30 million, stable in 2019 compared with 2018. Before that time, there was a structural deficit.