Ivorians says ‘No to economic slavery’ as Cocoa Exports are Banned

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Submitted by IQ4News on Fri, 18/02/2011 - 2:37pm

In an attempt to force the incumbent President Laurent Gbagbo to step down from the presidential seat for his rival Alassane Ouattara, many French banks have closed temporary, and a ban on coffee and cocoa exports imposed by Alassane Ouattara.

The ban on coffee and cocoa exports has caused an outcry from farmers who are lamenting that the post-elections crisis was not their fault and therefore do not understand why they have to suffer such a sanctions

In protest of the sanctions that could potentially cripple the sector, hundreds of farmers marched to the EU office in Abidjan on Thursday.

The farmers are reported to have burned several bags of cocoa in a show of frustration and anger towards the sanctions.

"I will burn my produce, because I can’t fathom selling my produce for paltry sums considering all the hard work I put into it," said a farmer from Vavoua.

"If they don’t want it, the Chinese will come and get it… we are fed up with the European Union,” said another farmer.

In his defense, Alassane Ouattarra said in a recent interview with the Financial Times, that the "Cocoa can be stored for a long time. Clearly Mr Gbagbo will be out well before the cocoa starts getting rotten".

Cote D’Ivoire’s agricultural industry is very important to the country’s economy, with cocoa exports representing 40 per cent of global cocoa supplies. The industry is valued at $4.5 billion a year.

The Banks Too?

Amongst the banks that have closed temporary are the International Bank for Trade and Industry in Cote d'Ivoire (BICICI), and, Societe Generale de Banque in Cote d'Ivoire (SGBCI).

A spokeswoman from the French Ministry of Foreign Affairs, Christine Fages, said that the closures were "appropriate" in view of the post-election crisis in the country.

"France supports and enforces sanctions adopted by the EU against Gbagbo and his supporters," Fages said.