Ivory Coast oil could level skewed balance of trade

Leonard Neill MANUFACTURED GOODS from South Africa and 'everything related to telecommunications' are needed in the Cote D'Ivore (Ivory Coast), which may soon become a valuable supply of oil and fuel for South African needs, says newly appointed Ambassador Boubakar Kone. Addressing a media briefing ahead of the planned Ivory Coast Week, to be held in Sandton from May 29-June 2, he said last week that agricultural machinery, motor cars and spare parts were the major requirement of his country's needs at present. "Then there is the communications field, everything related to electricity and maintenance which will be welcomed." Ivory Coast imports R259million goods from South Africa annually and exports R77million to this country. But, says Kone, there could soon be a better balance of trade. "Right now we export primary products, mainly from the agricultural sector, with some products from the field of textiles and handicrafts. "Our oil industry is about to enjoy a new phase of activity. The current capacity is more than 50 000 barrels per day, without the new found fields being taken into account. When these are operative we expect a far higher level of production."