WTO-trade policy report-Congo

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1、RepublicoftheCongoWT/TPR/S/169Page71IV.TRADEPOLICYANDPRACTICEBYSECTOR(1)Introduction1.TheCongo'seconomyislargelybasedonexploitationofthecountry'snaturalresources,particularlypetroleum,whichisexpectedtoachieverecordoutputof250,000barrels/dayin2006,generatingsubstantialrevenueinviewoft

2、herecordlevelsreachedinglobalpricesforcrudeoil.Since2001,theStatehasreorganizedactivitiesdownstreamofthepetroleumsubsectorinordertoprivatizesomeandintroducecompetitionintothemarketinganddistributionofpetroleumproducts.ThesubsectorneverthelessremainsunderStatecontrolandishighlyregulat

3、ed.2.Inordertodiversifythebasisofitseconomy,theinterimPovertyReductionStrategyPaper(I-PRSP)iscountingonrealgrowthofsome5.3percentannuallyovertheperiod2004-2006inthenon-traditionalsector(allnon-petroleumactivities),includingagriculture(encompassinglivestock,fishing,forestry),andinthem

4、iningsector.Theforestrysubsectorisstillthenon-traditionalactivityfavouredbyforeigninvestors;in2004,itattractedaroundonehalfofthetotalamountofnewprojectsapprovedundertheInvestmentCharter.Nevertheless,ingeneral,forestryenterpriseshavebeenunabletoachievethegoalofprocessing85percentofthe

5、irloggingoutput,imposedbytheauthoritieswiththeaimofprocessingalargeamountoftimberonthespotpriortoexport.AccordingtotheInternationalTropicalTimberOrganization(ITTO),theForestryCodeadoptedbytheCongoin2000providesthebasisforsustainableforestrymanagementandtheCongowouldappeartobeoneofthe

6、firstcountriesintheworldtodothis.3.Themanufacturingsectorisstillintheearlystagesandismainlycomposedofenterprisesintheagri-foodbranchproducingforthedomesticmarket.TheonlyexportisrefinedsugartothesubregionandunderquotastotheEuropeanUnion(EU)andtheUnitedStatesofAmerica.Thesugarbranchwil

7、lthereforehavetobereorganizedinthelightoftheEU'sreformofthesugarregimeasof1 July2006.SARIS-Congo,theonlycompanyproducingsugarintheCongo,hasamonopolyofsugarmarketingandisprotectedfromcompetitionthroughaseriesofmeasures.Consumerproductssuchasmineralwaterandwheatflourarerelativelyprotec

8、tedthroughta