Ambassador Touray’s Blueprint to Fix Gambia’s Economy

Written by: Seringe ST Touray

Veteran Gambian economist, technocrat and investment strategist Ambassador Abdoulie M Touray has warned that The Gambia risks wasting major trade opportunities despite gaining access to some of the world’s biggest markets through China’s new zero-tariff arrangement, the European Union and the African Growth and Opportunity Act (AGOA) with the United States.

In a blunt assessment of the Gambian economy published by The Standard, Amb. Touray said “the issue is no longer market access” because “those doors are already open.” He argued that the country’s real problem is its inability “to produce competitively, consistently, and at scale.”

Amb. Touray also warned that “market access without production capacity yields little economic benefit” as The Gambia continues exporting raw materials while importing expensive finished goods that could potentially be produced locally.

He called for urgent national economic “re-engineering” and a transition from what he described as a heavily consumption-oriented economy into a production and export-led economy.