The Gambia being a trading nation has maintained a liberal trade regime in the last two decades. Policies developed during this period provided roadmap in enhancing trade and the creation of a conducive environment. Trade being a key factor in economic growth, helps to alleviate poverty through its incorporation in our national development strategy (PRSP and Vision 2020).

Since the transfer of Trade fairs to The Gambia Chamber of Commerce and Industry, the Government has been promoting trade through dissemination of trade information ma maintenance and safe guarding free and liberal market policies to nurture a conducive environment for trade. In this connection, the Department of State for Trade has developed a Competition Policy and Law to encourage fair trade and to discourage restricted trade practices. In a similar vein, an export strategy paper has been developed within an Integrated Framework to address the supply constraints of The Gambia. In view of maintaining standards on imports and exports, the Department of State is currently pursuing with the Commonwealth Secretariat the development of Standard Policy and Law. This task is expected to also go alongside with the enhancement of the institutional capacity of the Standard and Consumer Protection Bureau under the Department of State. The Department of State is coordinating a Public-Private sector and Civil Society interface project with a view to developing capacities of non-state actors for them to be able to make meaningful contributions in policy making.

At the bilateral, multilateral and sub-regional fronts, the Department of State has been encouraging the signing of bilateral trade agreements, recently concluded a Trade Policy with the world Trade Organisation (WTO) and promoting the regional integration programmes of ECOWAS respectively.

BILATERAL TRADE AGREEMENTS

The Department of State has signed several bilateral trade agreements with countries and also signed an Instrument of Full Powers for membership to the Agency for International Trade Information and Cooperation (AITIC).

MULTILATERAL TRADE AGREEMENTS

In addition to the Trade Policy Review, the Department of State has been following up the current WTO trade negotiations especially on key areas such as Agriculture, Non-Agriculture Market Access, The Cotton Initiative and the Singapore issues (Transparency in Government Procurement, relationship between Trade and Investment, Competition Policy and Trade Facilitation).

SUB-REGIONAL INTEGRATION

The Department of State has been effectively coordinating the reporting of Gambia’s implementation of ECOWAS Programmes, namely the free movement of People, Right of Residence and Establishment, the Trade Liberalisation Scheme (TLS) and the West African Monetary Zone. The coordination of these programmes is being coordinated with the Department of State for Interior, the Department of State for Finance and Economic Affairs and other stakeholders.

INVESTMENT PROMOTION INITIATIVES OF THE GAMBIA

The Government of The Gambia launched The Gambia Government/World Bank Project, with the main objective of facilitating the development of a competitive investment environment in the sector.

In May 2001 The Gambia Government established The Gambia Investment Promotion and Free Zones Agency (GIPFZA), a statutory body established by an Act of Parliament. It is responsible for encouraging both Local and Foreign Direct Investment, and also promoting the export of local and value added products from The Gambia.

In January 2004, the construction of the Gambia’s First Zone sit started at the Banjul International Airport.

To date GIPFZA has awarded the special Investment Certificate to over 24 projects, representing a planned investment of over US$ 83 million. The actual capital investments presently stands at over US$17 million with over 679 direct created. This amount will expand rapidly, as the companies reach their full capacity this year. The main investment areas are in Tourism, Fisheries, Agriculture and Light Manufacturing.

In 2003 a series of outward promotion missions were undertaken to promote and market The Gambia as a stable destination offering a competitive package of incentive, with superior quality of service. Some of the countries visited were:

*. The USA:- The fourth US-Africa Business Summit with main object of providing opportunities for participants to interact with each other so that they can explore business opportunities that rise from The Gambia becoming AGOA eligible);

*. Nigeria:- In collaboration with The Gambian Embassy in Nigeria, successfully attract two major investors namely, Uni-global limited, an international project financing company and forth EURO Asia Company Limited who will engage in Kenaf Cultivation to make paper pulp for the paper and furniture industry and construction and Housing Estate development.

*. South Africa:- In collaboration with Gambia Civil Aviation Authority and some members of the private sector, with the main objective of supporting the process of having South Africa Express to establish operations in The Gambia to serve the sub-region especially with existing huge cargo market).

In 2003 the Agency received a series of inward investment mission namely: the successful visit of a Malaysian businessman, whose application to establish a Bank is being processed; and the Prince George’s County Technical Trade Mission visit, with saw the signing of a joint communiqué on exploring investment opportunities between the Prince George’s County in Maryland USA and The Gambia. Several letters of intent were signed on the followings investment areas: development of Call centre, computer assembling inside the Free Zones, Expansion of the GSM services, creating links with the University of The Gambia and exploring the Gambian Tourism Industry.