ROBINSON-COLLEGE OF BUSINESS
THE EXPLOSION OF COTE D’IVOIRY OIL EXPORTING ERA
AN THANH NGUYEN
Part 1. Country Background:
Have you ever asked yourself where most of the cocoa products that you are consuming everyday come from? There is a country located in the west of Africa called Cote d’Ivoire. It is famous for the world’s largest exporter of cocoa. The country has the area of 322,462 square Kilometers, which is slightly larger than Mexico. Cote d’Ivoire is surrounded by Ghana, Liberia, Burkina Faso, and Mali, but almost one third of the country is border with the Atlantic Ocean, which is a very good advantage of cross-border trading. Cote d’Ivoire has the size of population of almost about 22 millions by July of 2012, and it is rated as the world’s 55th. Because it has a connection with French for a very long time, seventy-seven percents of the population speak more than sixty-five different languages, and the most common one is Dyula, which is well known language for Muslim traders, but the main language that teaches in school and uses for communication between ethnic groups is French. Cote d’ivore has three major religions that are Muslim, Roman Catholic, and animist, which is the belief that there is soul existed in every single object include animals and different types of weather. The major political system of Cote d’Ivoire is republic, and the Prime Minister and President are Guillaume Soro and Alassane Ouattara, respectively. The country’s law has derived from the common, civil and many other basics form of law that needed to protect and help people. The capital of Cote d’ivore has been moved to the city of Yamoussoukro though all most of all the administrative offices still remain in the old city of Abidjan. Cote d’Ivoire has a very heavy agriculture-related economic system. The main products that keep the country’s economy going are oil, cocoa, coffee, and other agriculture-related products. Base on record, last year, Cote d’Ivoire produced about 35.6 billion dollars of gross domestic products (GDP), and the people’s living standard is about 1,600 dollars per year. Cote d’Ivoire just had recovered their economy from the effect of last year’s election and the civil war. The major natural resources are oil, wood, and gold mines. These resources play one of the main keys along with the country’s exporting goods. Cote d’Ivoire is famous for being the world’s largest exporter of cocoa. Along with cocoa, coffee, timber, petroleum, cottons, fishes, and other agriculture products are also the main exporting products. Cote d’Ivoire is advantage in the foreign trade, transportation, and sea-related opportunities because about one third of the country’s line is border with the Atlantic Ocean. About sixty percents of the country’s GDP are exported to US, Netherlands, Nigeria, Ghana, Germany, France, Burkina Paso and many other countries around the world, and that is about 11.4 billion of dollars; it ranks number 87 compare to the world. The country also imports fuel, capital equipment, and food from Nigeria, France, China, and Thailand that made up of about 7.3 billion dollars. Cote d’Ivoire use the currency that made up by the eight independent state of West Africa called West African CFA franc (XOF). According to the global current exchange rate, one US dollar could exchange for about 487.80 francs. With the current opportunities with is the growth of agriculture, rich of resources, the benefit of foreign transportation, freedom of trade plus the settle of government after the election of last year, Cote d’Ivoire economy will be advantage and grow in the next few years.
Part II. BUSINESS PROPOSITION:
Cote d’Ivoire is a country that is known for the world’s number one exporting of cocoa. Though the country has the independence from the European since1960, Cote...