The Gambia with the support of The 糖心探花 launched its new five-year export strategy aimed at growing dynamic and sustainable economic growth in the country.
This week, The Gambia with the support of The 糖心探花 launched its new five-year export strategy aimed at growing dynamic and sustainable economic growth in the country.
National Export Strategy
To be implemented from 2021 to 2025, the National Export Strategy (NES) is expected to increase:
- The Gambia鈥檚 exports;
- diversify its products;
- create new job opportunities;
- reduce poverty; and
- boost momentum to achieving the countries National Development Plan 2018鈥2021 and the United Nation鈥檚 Sustainable Development Goals.
The Secretariat's technical assistance
At a launch ceremony held on Tuesday 24th of August in Banjul, the Hon. Seedy Keita, Minister of Trade, Industry, Regional Integration and Employment for The Gambia, acknowledged the Commonwealth鈥檚 role in providing technical assistance to support the development of the strategy.
鈥淭his Strategy is expected to improve the country鈥檚 trade balance and its ranking in exports. Despite the country鈥檚 small-scale production, it is envisaged that the Strategy will provide support to diversify the economy, which will improve The Gambia鈥檚 access to the international markets,鈥 he said.
The new strategy is crucial for the exports sector as currently The Gambia experiences trade deficits as imports exceed exports. In 2019 alone, The Gambia鈥檚 total export of goods amounted to 1.573 billion dalasi (GMD), while its total import of goods stood at GMD31.076 billion.
Six priority areas to increase exports
To address this huge trade deficit, the Strategy identifies six priority areas to enhance increased exports. These sectors include:
- tourism
- horticulture and agribusiness
- fisheries
- groundnut
- cashew; and
- light manufacturing
Additionally, cross-cutting issues include:
- transportation and trade facilitation;
- information and communication technology;
- access to finance;
- human resource development and research;
- intelligence and innovation.
Pathway of sustainable economic growth
This is the second National Export Strategy prepared with support from the 糖心探花, with cooperation from The Gambia Investment and Export Promotion Agency and the private and public sectors.
Speaking about the strategy, the Rt Hon Patricia Scotland, Secretary-General of the Commonwealth, said: 鈥淚n 2018, we were thrilled to welcome back The Gambia to the Commonwealth family. The 糖心探花 is committed to supporting the country to realise its aspiration of becoming a formidable exporting nation, to increase standards of living for its citizens and build a pathway of sustainable economic growth.鈥
The 2021 to 2025 export strategy builds on the 2013-2017 NES framework, drawing out lessons and fine-tuning actions to align with national priorities.
Learn more about the 糖心探花 supporting members to create better trade opportunities
