This exhibition platform aims to develop Cote d’Ivoire’s industrial potential and economic structure through the transformation of products as a substitute for imports.
The Made in Cote d’Ivoire Fair (FOMCI) is designed to promote the products and services of industrial, financial, technological, craft and commercial companies based in Cote d’Ivoire and to stimulate local consumption.
The second edition of FOMCI, which will take place from November 22 to 26 at the Parc des expositions in Abidjan, was officially inaugurated by the Minister of Trade and Industry, Souleymane Diarrassouba, representing the Prime Minister, Robert Mambé.
To transform the structure of its economy through industrialisation, the Ivorian government has identified seven priority clusters: agro-industry, packaging, construction materials, pharmaceuticals, textiles, assembly, spare parts and automotive, and chemicals and plastics.
Thanks to the government’s assertive industrial strategy, industrial value added is steadily increasing, with an average annual growth rate of 8.7 percent between 2015 and 2022, and a projected increase to 15 percent in 2023, with a contribution to gross domestic product (GDP) of 23 percent.
This contribution to national wealth is expected to reach 30 percent by 2030. Meanwhile, value added in the manufacturing sector will accelerate by 205.2 percent between 2010 and 2022, rising from 1,551 billion CFA francs in 2010 to 4,733 billion CFA francs in 2022.
This has allowed the production of goods according to international standards, with the strengthening of the quality system (standards made mandatory). Minister Souleymane Diarrassouba emphasised that quality is not an option, but a necessity to improve competitiveness.
Manufacturing production is constantly growing, allowing the needs of the emerging middle class, estimated at 30 percent to the met, and to export manufactured products to the rest of the world, representing 20.4 percent of Cote d’Ivoire’s total exports by 2022.
The value of these products has increased from 1,138 billion CFA francs in 2018 to 2,042 billion CFA francs in 2022, an increase of 79.5 percent, he added. The Minister expressed his satisfaction that the number of exhibitors, estimated at 33 for the first edition in 2018, has now reached the hundred mark.
Aimé Koizan, Director General of Internal Trade and General Commissioner of Made in Cote d’Ivoire 2023, supported the interest in this exhibition, pointing out that the whole world has experienced successive crises in recent years, which have led to difficulties in the supply of basic necessities and consumer goods.
This situation, he said, has highlighted the need for each country to ensure its sovereignty in the field of consumer goods. What’s more, imported products are becoming increasingly unreliable in terms of availability and price.
“Proof of this is the domestic policy decision by some rice-producing countries to suspend exports of certain qualities of rice, resulting in higher international prices for this commodity and its impact on the consumer baskets of importing countries,” he recalled.
The theme of the 2023 edition is: “Made in Cote d’Ivoire quality, a business opportunity and a factor for inclusive growth.” Its main objective is to showcase local products and services by presenting a wide range of agricultural, culinary, clothing, cosmetics, technological, construction materials and service products.
This 2023 edition presents itself as an opportunity for discovery, exchange, learning, entertainment and good business.
FOMCI is a showcase and a response to the challenge of structural transformation of the economy through industrialisation. According to Mr. Koizan, the number of exhibitors has grown from 33 at the first edition to over 100, an increase of more than 200 percent.
AP/lb/as/APA