WT/TPR/S/251 Trade Policy Review 
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  II. TRADE AND INVESTMENT REGIMES 
(1) GENERAL FRAMEWORK  
1. In 2011 Guinea entered an era of political re newal following its first truly democratic 
elections, held in November 2010.  In December  2010 the new President was sworn in, and a new 
government was installed in January 2011.  In princi ple there should have been legislative elections to 
reinstate the National Assembly within six months  following the presidential elections.  The National 
Assembly had been dissolved and the C onstitution suspended after the December 2008 coup d'état , 
following which the country was governed by decree for two years.  After serious violence against 
civilians, the Government of Guinea was suspended from most international bodies for the major part 
of the period 2009-2010.  In such circumstances trad e and investment policies have not been a priority 
area for government action, and there have been few regulatory changes since the previous Trade 
Policy Review (TPR) of Guinea. 
2. Before the previous TPR, in 2005, some signi ficant changes had already been made to 
Guinea's legislative framework for trade.  In 200 2, measures had been taken to harmonize the business 
legal framework with that of the other countries of  the region by implementing the eight uniform acts 
of the Organization for the Harmonization of Busine ss Law in Africa (OHADA).  The legislation on 
foreign investment also dates from 2002, but has not led to increased foreign investment flows 
because of the country's political instability and poor governance.  As a member of the Economic 
Community of West African States (ECOWAS), Guinea introduced a tariff aligned on the WAEMU Common External Tariff (CET) in 2005 (Chapter III(2)). 
3. Under the Constitution of December 1990 (known as the Loi fondamentale  (Basic Law)), 
Guinea, which has been independent since 28 Se ptember 1958, is a multi-party democracy.  On 
7 May 2010 the Constitution, which had been susp ended in December 2008, was restored.  The 
2001 amendment which extended the President's te rm of office from five to seven years, and 
abolished the limitation on the number of consecutive te rms that may be served by the President of the 
Republic, was annulled at that time.  Since then the President of the Republic, the Head of State, has 
(again) been elected by direct universal suffrage  for a term of five years, renewable only once.
1 
4. Under the Constitution, the National Assembly ex ercises legislative power and monitors the 
actions of the Government.  It adopts legislation, including the finance laws.  Its President is elected 
for five years.  One third of deputies are elected by single-ballot, single-member majority voting and 
two thirds from a national list by proportional represen tation.  In accordance with the Constitution, the 
President of the Republic and the deputies share the right to propose legislation. 
5. The last legislative elections in Guinea were held on 30 June 2002.  In December 2008 the 
National Assembly was dissolved and the country  was then governed by decree.  A National 
Transitional Council, a provisional legislative bod y responsible for managing the transition to 
democracy, was established on 8 Fe bruary 2010 and will remain in place until the next legislative 
elections which are scheduled for the end of 2011. 
6. Judicial power should, in principle, be independe nt of the Executive and the Legislature.  It is 
exercised solely by the courts and tribunals (A rticle 80 of the Constitution).  As Guinea has no 
commercial court, commercial matters are dealt with  by the ordinary courts.  Disputes between the 
State and foreign investors regarding application of the Investment Code are settled by other bodies (see section (4) below). 
                                                      
1 The Government has a website which is updated quite frequently. Guinea WT/TPR/S/251 
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  7. Laws, ordinances, decrees, decisions, opini ons and orders must be published in the 
Official Journal of the Republic of Guinea, which do es not, however, appear to have been issued for a 
number of years. 
(2) FOREIGN TRADE REGULATION  
8. Two non-preferential international trade agreemen ts, with Tunisia and Ukraine, have been 
signed since the previous TPR of Guinea in 2005.  Treaties and agreements that have been properly 
ratified or adopted by the National Assembly take  precedence over the law when they are published, 
subject to reciprocity by the other parties.  Peace and trade treaties, and agreements relating to international organizations, as well as those which commit State finances, can be ratified or approved 
only by virtue of a law.  The WTO Agreement was ratified in accordance with this procedure and, 
under the monist system prevailing in Guinea, it takes precedence over national laws and can 
therefore be invoked directly before the nationa l courts, although this has never yet happened. 
9. The Ministry of Trade takes the leading role  in the development and administration of 
Guinea's trade policy.
2  Its missions include the design,  development and implementation of 
government trade policy;  this Ministry is also responsible for promoting the competitiveness of the 
Guinean economy.  Within the Ministry, th e Export Formalities Support Centre (CAFEX) 
(Chapter III(3)) endeavours to provide assistance to exporters. 
10. The Ministry responsible for finance also participates (through the taxation policy) in the 
formulation and implementation of trade policy;  it  also establishes the macroeconomic framework for 
implementation of the poverty reduction strategy.3  The Ministries responsible for agriculture, 
fisheries, planning and cooperation, integration,  foreign affairs (in relation to African economic 
integration) and justice also play important roles in Guinea's trade policy.  The Central Bank of the 
Republic of Guinea (BCRG) also plays a part, th rough the exchange contro l regulations and other 
monetary policy measures.  The National Developmen t Plan sets out the Government's main priorities 
in the area of trade.  In practice, it would appear  that inter-ministerial coordination on trade policy 
matters is still inadequate. 
11. In principle, the main laws relating to interna tional trade matters, such as the customs tariff or 
trade agreements, can be implemented only by vi rtue of a law passed by the National Assembly.  
However, rates can be changed and all or part of th e duties and charges stipulated in the tariff can be 
suspended or restored by a decree of the Preside nt of the Republic.  The initiative for such reforms 
comes from the Minister responsible for the economy and finance.  A comprehensive list of the laws 
relating to international trade and foreign investment is set out in Table II.1. 
Table II.1 
Guinean laws and regulations rel ating to trade and investment 
Legislation Field Website  
 Imports and exports  
Ordinances No. 090/PRG/SGG 
and No. 091/006/PRG/SGG  Customs Code http://www.douanesguinee.gov.gn 
 Customs tariff  
 Import and export procedure  
 System for preshipment inspection of imports  
 General regulations governing im ports of plant material   
                                                      
2 Decree No. D/2008/040/PRG/SGG of 24 July 2008. 
3 Online information.  Viewed at:  http://w ww.stat-guinee.org/Donnees/structurelle/Pdf/ 
Cadrage_macro.pdf. WT/TPR/S/251 Trade Policy Review 
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  Legislation Field Website  
Law No. L/95/13/CTRN of 
15 May 1995 Maritime Fisheries Code  
Order No. 00676/2006 Small-scal e fisheries regulations  
Order No. 00677/2006 Adoption of the procedural  manual on participative surveillance   
Law No. L/95/046/CTRN/  Livestock and An imal Products Code;  import and export 
regulations for animals and animal products  
 Cattle and fresh meat export regulations  
 Protection of plants and plant products  
Law No. L/94/40/CTRN and 
Implementing Decree 
No. D/94/119/PRG/SGG Price controls on phytosanitary pr oducts and other imported inputs  
 Import reference prices  
 Mandatory goods or cargo insurance at importation  
 Production and trade  
Draft legislation Commercial Code  
 OHADA legislation  
 Arbitration Code  
 Code of Obligations and Contracts  
 Labour Code  
Law No. L/95/036/CTRN  Mining C ode http://www.droit-afrique.com 
   
Joint Order 
No. 012/MEEF-MMG/SGG of 
5 January 2007 Establishes the amount of the duties, royalties and taxes applicable 
to the marketing of diamonds  
 Marine Fisheries Code  
 General Regulations Implementing the Fisheries Code  
 Legal and tax regime appli cable to the exploration and 
exploitation of hydrocarbons  
 Maximum sales price of liquid hydrocarbons  
Decree No. 060/PRG/SGG 
of 24 July 2008 Restructuring of the Ministry of Transport  
Order No. 10 629/MT/SGG of 
26 November 2004, renewed 
in 2006 Stevedoring   
Law No. L/95/024/CTRN  Civil Aviation Code  
Law No. L/2005/019/AN Radio communications regulations  
Law No. L/2005/017 Postal services  
Law No. L/2005/010/AN Regulation of loan establishments  http://bcrg-
guinee.org/supervision1.aspx 
Ordinances No. 103/PRG/86 
and No. 080/PRG/87 Liberalization of the insurance market and regulation of the 
activities carried out by  insurance companies  
Decision 
No. D/014/CAM/REA 
of 21 September 2010 Raising of the minimum register ed capital requirement and the 
initial capital requirement for mutual insurance companies  
Decree No. D/98/54/PRG/SGG National tourism policy  
 Internal taxation   
 General Tax Code   
 Investment   
 1987 Investment Code, amended in 2002  
 Establishment of a Single Window   
 Government procurement   
Law No. L/97/016/AN  Government Procurement Code  
Source : WTO Secretariat, based on information provided by the Guinean authorities.  Guinea WT/TPR/S/251 
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  (3) FOREIGN TRADE AGREEMENTS  
(i) World Trade Organization 
12. Guinea ratified the Agreement Establishing the WTO on 25 September 1995 and became an 
original Member on 25 October 1995.4  It grants MFN treatment as a minimum to all its trading 
partners.  It has been recognized as a least devel oped country (LDC).  It is not a party to any 
WTO plurilateral agreement. 
13. Guinea's Schedule CXXXVI contains the commit ments undertaken in the Uruguay Round, as 
well as the bindings made by France on behalf of French West Africa during the colonial era (Consolidated Tariff Schedules (CTS), see Chapter III(2)).
5  In order to update the CTS database, the 
Secretariat transposed Guinea's commitments in to the HS2002 nomenclature and transmitted the 
transposition to Guinea's Mission to the WTO on 13 October 2006.  This file was approved by the 
other Members on 24 April 2007 and certified in June 2011. 
14. Guinea has not been a party to any dispute in th e WTO.  It continues to have major problems 
in updating its notifications, and this reduces the tr ansparency of its legal framework for trade.  
Between 2005 and 2010, the WTO Central Registry of Notifications did not receive any notifications 
from Guinea.6 
15. None of the WTO Reference Centres have been  in operation for the past four years. 
16. Since 2006, representatives of Guinea have been invited to around a hundred training or 
technical assistance activities funded in whole or in  part by the WTO.  In all, however, Guinean 
officials have attended only about 70 of them - a level of participati on well below that of the countries 
in the region.  No activities have taken place in Guinea because of the political  situation.  Guinean 
government officials have participated in 30 regional seminars, ten online training courses, 
three introduction courses on the WTO, four regional trade policy courses, 16 regional training seminars, 11 SPS/TBT seminars or workshops, thre e 3-month trade policy courses in Geneva, and 
two 10-month Netherlands internship programmes. 
(ii) Regional and bilateral agreements 
17. On 9 December 2010, the African Union rein stated Guinea after a two-year suspension 
following the December 2008 coup d'état  and the violence of September 2009.  Guinea supports the 
establishment of the African Economic Community (AEC ).  The authorities state that by participating 
in these regional agreements, Guinea is seeking an ec onomic and trading area larger than its domestic 
market, which could speed up its progressive integra tion into world trade.  Guinea participates in 
bilateral and regional agreements (Table II.2). 
                                                      
4 Guinea acquired the status of Contracting Party on 8 December 1994 (Article XXVI:5(c) of the 
GATT 1994) after having applied the GATT de facto from 24 June 1994 onwards (WTO document L/7497 of 
29 June 1994). 
5 Benin (formerly Dahomey), Burkina Faso (forme rly Upper Volta), Côte d'Ivoire, Guinea, Mali 
(formerly French Sudan), Mauritania, Niger, and Senegal. 
6 WTO document G/L/223/Rev.18 of 9 March 2011. WT/TPR/S/251 Trade Policy Review 
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  Table II.2 
Bilateral or regional trade agreements 
Agreement Parties Main provisions Tariff or other 
preferences granted 
by Guinea 
ECOWAS Protocol/Agreement ECOWAS member 
countries Provisions of the ECOWAS trade 
liberalization scheme  (SLE) exempting 
certain products  approved by the 16 member 
countries from customs duties and taxes 
having equivalent effect Participation in the various regional 
economic and trade arrangements Yes 
Agreement establishing a preferential 
trade system among the member States of 
the Organisation of Islamic Cooperation 
(OIC) 57 OIC member 
countries Exchange of trade preferences among the 
57 member countries, covering customs 
duties and taxes having equivalent effect No 
Mano River Union Agreement 4 member countries  Trade preferences, integration programmes, 
and economic and social development 
programmes No 
Convention creating the Niger Basin 
Authority 8 member countries No 
Trade Agreement with the People's 
Republic of China Guinea-People's 
Republic of China Principle of MFN clause, granting of 
benefits at trade events, relief from customs 
duties for goods imported in specific circumstances:  trade fairs, exhibitions, 
promotional sales, etc. No 
Trade Agreement with Tunisia Guinea-Tunisia No 
Trade Agreement with Uk raine Guinea-Ukraine No 
Trade Agreement with Côte d'I voire Guinea-Côte d'Ivoire Promotion of cross-border trade No 
Trade Agreement with Ga mbia Guinea-Gambia No 
Trade Agreement with Senegal Guinea-Senegal No 
Trade and Tariff Agreement with Morocco Guinea- Morocco Exemption from customs duties and taxes 
having equivalent eff ect for listed products 
from the two countries, with a threshold of 
40% value added Yes 
Source:   Government of Guinea. 
18. The Preamble to Guinea's Constitution mentions  attachment to the principle of regional 
integration within the Economic Community of West African States (ECOWAS).7  The ECOWAS 
institutional framework consists of the Conference of Heads of State and Government, its decision 
making authority;  the Commission, with broade r powers, which replaced the former Executive 
Secretariat in 2007;  and the Parliament, the Cour t of Justice and the West African Investment and 
Development Bank. 
19. The ECOWAS Treaty was revised in 1993 to gi ve new impetus to the Community's economic 
integration projects8, which did not really take off until 2003.  Its rules of origin were harmonized 
with those of WAEMU in 2003 (Chapter III).9  The Treaty provides that unprocessed local and craft 
products, and approved originating manufactured goods , are in free circulation within the Community 
(Chapter III(2)).  According to Guinean Customs,  Guinea is actually applying this ECOWAS trade 
liberalization scheme, and approved goods are importe d free of customs duties.  Guinea, like the other 
members of the Community, has set up a Nati onal Approval Committee (CNA) which examines 
applications for the approval of products submitte d by enterprises and makes recommendations to the 
Ministry of Cooperation, which is respon sible for ECOWAS matters, for adoption. 
                                                      
7 The ECOWAS members are:  Benin;  Burkina Faso;  Cape Verde;  Côte d'Ivoire;  Gambia;  Ghana;  
Guinea;  Guinea-Bissau;  Liberia;  Mali;  Mauritania;  Niger;  Nigeria;  Senegal;  Sierra Leone;  and Togo. 
8 The revised 1993 Treaty was notified to the WTO in 2005 by Ghana on behalf of the ECOWAS 
member States (WTO document WT/COMTD/N/21 of 26 September 2005).  The text of the Treaty is available under reference WT/COMTD/54. 
9 Protocol A/P1/1/03 of 31 January 2003 on the concept of originating products of ECOWAS member 
States. Guinea WT/TPR/S/251 
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  20. Guinea, like the other ECOWAS members, a pplies the ECOWAS community levy (CL) of 
0.5 per cent on imports from third countries;   the proceeds are passed on to ECOWAS. 
21. With a view to the creation of a custom uni on, ECOWAS decided to equip itself with a 
Common External Tariff (CET), and chose to exte nd the coverage of the WAEMU CET to all its 
members as from 1 January 2008.  The ECOWAS members which are not members of WAEMU, 
including Guinea, have aligned their na tional tariffs on the CET (Chapter III(2)). 
22. The creation of a fifth band, at 35 per cent, essentially for agrifood products, was 
recommended at the Banjul Summit in October 2008.   The final list of products covered by the new 
35 per cent rate was fixed by the ECOWAS member States in Spring 2011. 
23. In addition to the common tariff and certifi cate of origin, ECOWAS has undertaken several 
projects aimed at facilitating the movement of goods, services and persons.  According to the authorities, Guinea has made significant progr ess with the implementation of the ECOWAS 
programme for the free movement of persons a nd their goods in the ECOWAS area, through:  
(i) adoption of the ECOWAS passport;  and (ii) th e possibility of travelling between all the member 
countries with nothing more than a national id entity card (or even a voter's card or school 
pupil/student card). 
24. Another ECOWAS project is the establishment of  an Inter-State Road Transit (ISRT) regime.  
However, according to the authorities the ECOWAS  ISRT Convention has not been implemented.  
Other projects include the development of the road network and the telecommunications infrastructure, and the creation of a regional third-party motor vehicle insurance regime.
10  Another 
important ECOWAS initiative is the West African Power Pool (WAPP)11, the purpose of which is to 
expand trade in electricity among the 15 member c ountries (energy being one of the main constraints 
on subregional supply), among other things by co ordinating the investment projects submitted to 
donors.  ECOWAS is also actively involved in effo rts to maintain political stability in the subregion 
and resolve conflicts.12 
(iii) Relations with the European Union 
25. Guinea is one of the 79 ACP countries with wh ich the European Union (EU) concluded the 
Agreement signed on 23 June 2000 at Cotonou (Benin)13 to replace the Lomé Convention.  The 
Cotonou Agreement covers the period up to 2020 .  Its trade provisions constitute one of the 
mechanisms of cooperation between the ACP c ountries and the EU.  Until 31 December 2007 the 
latter, by way of a waiver, admitted under the dut y-free regime non-agricultu ral products and most 
agricultural products originating in 78 ACP countri es (excluding South Africa), on a non-reciprocal 
basis.14  Development aid is provided by the Europ ean Development Fund (EDF), supplementing the 
bilateral initiatives of the EU member countries. 
                                                      
10 ECOWAS (undated a). 
11 ECOWAS (undated b). 
12 Documentation française  (undated) "Maintien de la paix dans le monde:  l'ONU et les acteurs 
régionaux".  Viewed at:  http://www.ladocumentationfrancaise.fr/dossiers/ maintien paix/cedeao.shtml. 
13 Cotonou Agreement.  Viewed at:  http://e uropa.eu/legislation_summaries/development/ 
african_Caribbean_pacific_ states/r12101_fr.htm. 
14 WTO Members had agreed to a derogation from the EU's obligations under Article I:1 of the 
GATT 1994 (on MFN treatment) for the period  from 1 March 2000 to 31 December 2007 
(WTO document WT/MIN(01)/15 of 14 November 2001). WT/TPR/S/251 Trade Policy Review 
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  26. Since 2008, Guinea has benefited from the EU's  "Everything But Arms" initiative, which 
provides for the duty-free admission of all products of LDC origin with the exception of arms and ammunition. 
27. The Cotonou Agreement provides for the nego tiation of regional Economic Partnership 
Agreements (EPAs), which were to take over fro m its trade provisions as from 1 January 2008;  
Guinea belongs to the "West Africa" group in the EPA regional negotiations.  The negotiations on the 
EPA with West Africa are continuing.
15 
(4) FOREIGN INVESTMENT REGIME  
28. Up to 2006, the stock of foreign investment remained particularly low in Guinea.  After that, 
foreign direct investment (FDI) almost doubled  between 2006 and 2008, reaching US$1.6 billion, 
i.e. one third of GDP16, but was still confined to the mining and, to a lesser extent, 
telecommunications sectors.  The flow dried up ag ain in 2009-2010 as a result of the socio-political 
and economic crisis that the count ry went through.  Corruption, crumbling infrastructures, political 
and economic uncertainty, electricity supply problem s and a shortage of sk illed labour have further 
reduced the country's attractiveness to foreign investors. 
(i) Main investment promotion measures 
29. For more than 15 years the Government has been  stating that it is seeking to attract FDI, 
described as the main factor in the development of the private sector and of the country's abundant natural resources.  The Investment Code is the main  legislative text:  enacted by ordinance in 1987 
and amended in 1995
17, it has been described in previous TPRs of Guinea.18  The Code guarantees 
freedom to transfer capital, incomes and salaries,  for investors who are foreign natural or legal 
persons.  It guarantees private and government ente rprises, whether domestic or foreign, the same 
rights and obligations.  It is supplemented by a num ber of bilateral agreements that protect foreign 
investors and their investments in Guinea (see below). 
30. In order to receive benefits under the Investment  Code, enterprises must operate in one of the 
priority sectors (Table II.3), but the list is not ex haustive and may be amended.  Mining enterprises 
are governed by the Mining Code (Chapter IV(3)).  Trading in unprocessed products is not covered by 
the Investment Code. 
31. In order to benefit from one of the preferential re gimes, at least 33 per cent of the total cost of 
the investment must be funded by capital inflow ( 20 per cent for SMEs, Article 10).  Four preferential 
regimes are available (Table II.3).  It is possibl e to obtain approval under several regimes provided 
that the criteria are met in each case, and this is qu ite common.  According to the authorities, the main 
advantage of approval is exemption from VAT fo r imports of the equipment needed during the 
start-up period or to extend the investment. 
                                                      
15 Online information from the ACP.  Vi ewed at:  http://www. acp-eu-trade.org. 
16 Online information.  Viewed at:  http ://www.expert-comptable-international.com 
/fr/pays/guinea/investir-3. 
17 Ordinance No. 001/PRG/87, revised by Law No. L/95/029/CTRN of 30 June 1995.  Viewed at:  
http://www.droit-afrique.com/images /textes/Guinee/Guinee%20-%20Code%20des%20investissements.pdf. 
18 WTO (1999 and 2005). Guinea WT/TPR/S/251 
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  Table II.3 
Investment Code:  benefits under preferential regimes 
 SME regime Exporting enterprises 
regime Regime for enterprises 
developing natural 
resources Enterprises established in 
less developed zones 
Criteria Assets of GF 15 
to 500 milliona 
 
At least 5 jobs 
 Enterprises whose export 
turnover accounts for over 
22% of total turnover  Cost of intermediate 
consumption of Guinean origin exceeds 
50% of total costs 
 
 The country is divided into 
four zones:  1-2-3-4b 
 
Production enterprise in which at least 90% of the 
personnel work in the zone 
 Service enterprise whose actual head office and 
principal area of activity are 
in the zone 
Priority sectors Agriculture, industrial pr ocessing, stockbreeding and fi shing, fertilizer producti on, health and education 
enterprises, tourism facilities and indus tries, social housing promotion, i nvestment banks or any other loan 
establishment outside zone 1 (Conakry) 
Guarantees Equal treatment for natural and legal pers ons, as well as for foreigners and Guinean nationals 
Freedom to transfer capital 
Freedom of establishment,  management, movement 
Guinea has signed the ICSID, MIGA and OHADA Agreements 
Common benefits Exemption from duties a nd taxes (including VAT) on imports of goods , equipment and tools needed for the 
investment (with the exception of auto mobiles) during the start-up period or for its extension (2 years maximum) 
A single import duty of 6% on inputs, with no time limitation 
Exemption from the apprenticeship tax and the flat-rate ta x on wages and salaries for 5 years from the start of 
operations, and 50% reduction of this  tax during the following 3 years 
Exemption from the tax on industrial and commercial profits  (BIC) or the tax on wages and salaries for 3 to 
8 years depending on the zone in which the enterprise is situated;  reduction of 50% during the first tax year and 
25% during the second following the period of exemption 
Tax on industrial and 
commercial profits 
(BIC) 20% (instead of 35%) for 
5 years Exemption for 5 years 
according to the export 
turnover/total turnover ratio, but a maximum of 60% of profits  Reduction in the BIC 
tax base equivalent to 
20% of the value of intermediate 
consumption of 
Guinean origin for the 
first 5 years  Exemption from the BIC for 
5 to 8 years depending on 
the zone in which the enterprise is situated  
Other benefits Exemption from the 
flat-rate minimum tax for 
3 years   Reduction of 20 to 60% of 
VAT for 5 years depending 
on the zone in which the 
enterprise is situated 
a The BCRG publishes the reference ra te for the Guinean franc.  In 2011 it was around GF 10,000 for one euro. 
b Zone 1:  the region of Conakry and the prefectures of Coyah, Dubréka, Forécariah and Boké;  Zone 2:  the prefectures of Boffa , 
Fria, Kindia, Mamou, Dalaba, Pita, Labé, Dabola and Faranah;  Zone 3:  the prefectures of Kissidougou, Guéckédou, Kankan, 
Macenta, N'Zérékoré, Kouroussa and Télimilé ;  Zone 4:  the prefectures of Kounda ra, Gaoual, Mali, Lélouna, Tougué, Koubia, 
Lola, Sguri, Dinguiraye, Mandiana, Kérouané, Beyla and Yomou. 
Source : Investment Code, amended by the 2002 Finance Law. 
(ii) Institutions responsible for promoting investment 
32. The Ministry responsible for industry and SMEs is in charge of investment policy.  In 2011 
the Private Investment Promotion Agency (API) was established to replace the National Office for 
Private Investment Promotion (OPIP).  The role of the API is to receive investors in Guinea and to 
promote Guinea abroad.  The API completes administ rative, legal, tax and ot her formalities on behalf WT/TPR/S/251 Trade Policy Review 
Page 20 
  
  of investors.  It has a website19, and receives requests for approval under the preferential regimes of 
the Investment Code, which confer eligibility for tax, customs or other benefits. 
33. The API then transmits the applications, follo wing appraisal, to the National Investment 
Commission (CNI)20, which examines them and makes a recommendation as to the eligibility of 
projects to create or expand enterprises under the Inv estment Code regimes.  Approval takes the form 
of a decree by the Minister responsible for industry and is given, in principle, within a maximum of one month following receipt.  The list of goods exempt from duties and taxes is attached to the approval decree.  All relevant in formation is, in principle, made public.  In 2009-2010 the CNI 
examined 65 applications for approval, of which 61 were successful.  The projected investments for 
these 61 projects total GF 4,000 billion (approximate ly €400 million), with the planned creation of 
4,278 jobs, including 125 expatriate jobs. 
(iii) Free zones and industrial zones 
34. In 2011 there were no free zones or industrial zones in Guinea.  The legislation on free zones 
forms part of the Investment Code.  A few industr ial zones have been identified, but as yet none of 
them have been provided with services.  In order to  be eligible, the promoter of an industrial project 
must submit to the Ministry responsible for industr y and SMEs an application which includes the land 
request and a comprehensive project feasibility study.   The application is then transmitted to the 
Inter-ministerial Technical Commission, made up of representatives of the relevant technical departments, for appraisal.  Once the parcel of i ndustrial land has been agreed upon, the promoter is 
given 90 days to enclose his plot.  He is then gr anted a moratorium of not more than two years to 
construct his industrial unit.  During that peri od, the promoter may receive benefits under the 
Investment Code if he so requests. 
(iv) International investment agreements 
35. Guinea has signed 24 international investment ag reements, including 18 reciprocal investment 
promotion and protection agreemen ts and one agreement on the a voidance of double taxation.  
Apparently eight of these agreements have  been ratified and have taken effect.
21  The agreement with 
France, for example, offers investors political risk prot ection, in principle.  It defines the concepts of 
investment and income, and guarantees the national treatment principle.  Under the most-favoured-nation principle, the two parties' inv estors must also receive treatment at least as 
favourable as that granted to most favoured foreign investors (from third countries).
22 
36. Guinea is a member of the World Bank's Multila teral Investment Guarantee Agency (MIGA).  
MIGA's portfolio in Guinea consists of two proj ects in the agro-industry and telecommunications 
sectors involving investors from Luxembourg, Senega l and Switzerland, with gross exposure totalling 
US$59 million.  Guinea has also signed the Conventi on on the Settlement of Investment Disputes 
between States and Nationals of Other States (ICSID Convention). 
                                                      
19 Online information from the API.  Viewed at:  http://apiguinee.org. 
20 The Droit-Afrique website contains the decr ee establishing the CNI (Decree No. 001/PRG/87 
amended by Decree No. D/97/208/PRG/SGG).  Viewed at :  http://www.droit-afrique.com/images/textes/Guinee/ 
Guinee%20-%20Decret%20application%20code%20investissements.pdf. 
21 UNCTAD (2010).  The countries with which Guinea has ratified these agreements are:  Benin;  
Cameroon;  China;  France;  Mauritius;  Mali;  Mauritania;  and South Africa. 
22 Online information from the National Assembly.  Viewed at:  http://www.assemblee-nationale.fr/13/ 
projets/pl1137.asp. Guinea WT/TPR/S/251 
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  (v) Other factors influencing investment 
(a) Land tenure system 
37. In June 2011 a draft Code on rural land tenure was apparently awaiting approval.  There is 
unanimous agreement that land security is now a precondition for an increase in the income of the 
population (Chapter IV(2)). 
38. The Ministry responsible for industry responds to applications from industrialists for 
State-owned industrial land.  The Ministry examin es the admissibility of the application and carries 
out feasibility studies, including environmental feas ibility studies.  The zones are then provided with 
services by the applicant.  The Guinean or foreig n investor is granted a provisional concession, by 
order, until he brings his project to fruition, subj ect to the establishment of  a company under Guinean 
law.  Once the project has been brought to fruition he  may receive a 15 to 99-year emphyteutic lease.  
However, observers are unanimous in their view th at these lease contracts do not offer sufficient legal 
protection. 
(b) Business environment 
39. The business environment continued to deterior ate up to 2010 according to the World Bank's 
Doing Business  indicator, which ranked Guinea 179th out of 183 countries for 2011 (data from 
2009).23  Guinea's worst score is for starting a business,  where the costs are prohibitive in relation to 
people's incomes.  Guinea also scores poorly, comp ared with other countries, for dealing with 
construction permits, paying taxes a nd protecting investors.  By way of example, in May 2011 an 
American agricultural firm complained about the Government's slowness to renew leases on 
agricultural public land despite the country's need for food production.  On the other hand, Guinea 
ranks somewhat higher (123rd out of 183) on cross-border trade, thanks to export and import costs 
which are relatively low compared to the sub-Saharan average. 
40. In 2010 Transparency International  ranked Guinea 164th out of 178 countries in terms of 
perception of corruption, described as endemic, partic ularly in relation to the judiciary, the executive 
and tax collection.  Access to justice and access to public services are also cited as are, in many cases, 
government services which, despite the near-ob ligatory payment of bribes, are inefficient.24 
41. In 2000 Guinea ratified the Organization for the Harmonization of Business Law in Africa 
(OHADA) Treaty.  Since 2002 the business legal framewo rk has, in principle, been harmonized with 
that of the other countries of the region through the implementation of the OHADA uniform acts.  All 
of the uniform acts are directly applicable, in cluding the new Uniform Act on General Commercial 
Law of 15 December 2010, and the new Uniform Acts on Securities and Cooperative Companies.25  
The Ministry of Justice is responsible for OHADA-related management in Guinea. 
                                                      
23 Online information from Doing Business .  Viewed at:  http://francais.doingbusiness.org/ 
data/exploreeconomies/guinea. 
24 Online information from Transparency International .  Viewed at:  http://www.transparency.org/ 
policy_research/surveys_ind ices/cpi/2010/results. 
25 Online information from OHADA.  Viewed at:  http://www.ohada.org.