Trade and Business in Burkina Faso, Ouaga

The objectives of the subject “Foreign Trade and Business in the Republic of Burkina Faso” are the following:

1. To analyse the Burkinabe Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in Burkina Faso
3. To explore the Burkinabe trade relations with the country of the student
4. To know the Burkinabe Trade Agreements
5. To develop a business plan for the Burkinabe market

Trade Agreements and Preferential Access of Burkina Faso

1. Burkina Faso and the West African Economic Area
2. Community of Sahel-Saharan States (CEN-SAD)
3. African Continental Free-Trade Area (AfCFTA)
4. Economic Community of West African States (ECOWAS)
5. West African Economic and Monetary Union (WAEMU)
   1. U.S. Trade Agreement (WAEMU)
6. Burkina Faso-European Union Trade Relations
   1. Africa-European Union Strategic Partnership (Cotonou Agreement)
   2. Generalised System of Preferences (GSP)
7. African Growth and Opportunity Act (U.S. AGOA)
8. Niger Basin Authority
9. Organisation for the Harmonisation of Business Law in Africa (OHADA)
10. G5-Sahel
11. Arab Bank for Economic Development in Africa (BADEA)
12. Global System of Trade Preferences among Developing Countries (GSTP) - accession process

Trade Facilitation Programs

1. World Trade Organisation (WTO)
   1. WTO General Agreement on Trade in Services (GATS)
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organisation (WCO)
   1. Revised Kyoto Convention (RKC)
3. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN)

African Trade and Economic Organisations

1. Economic Commission for Africa (ECA)
2. African Union (AU)
   1. African Union Convention on Preventing and Combating Corruption
   2. African Union Development Agency (AUDA-NEPAD)
   3. Comprehensive Africa Agriculture Development Programme (CAADP)
3. African Development Bank (AfDB)
4. Forum on China-Africa Cooperation
5. Africa-India Framework for Cooperation
6. Africa-BRICS (Brazil, Russia, India, China, South Africa)
7. Africa-Turkey Partnership
8. Africa-Asia Strategic Partnership (NAASP)
9. Africa-Korea Partnership
10. Africa-Japan Cooperation (TICAD)
11. Africa-South America Summit (ASA)

Islamic Organisations

1. Afro-Arab Cooperation
2. Arab Bank for Economic Development in Africa (BADEA)
3. Organisation of Islamic Cooperation (OIC)
4. Islamic Development Bank (IsDB)

Global Organisations

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. World Intellectual Property Organisation (WIPO)
2. World Bank (WB)
3. World Trade Organisation (WTO)
4. International Monetary Fund (IMF)

Burkina Faso

1. Burkina Faso (West Africa) shares borders with Mali, Niger, Benin, Togo, Ghana, and Ivory Coast
2. Area of Burkina Faso: 274,200 square kilometres
3. Largest cities: Ouagadougou, Bobo-Dioulasso, Banfora, Dédougou, Tenkodogo, Koudougou, Kaya, Fada N'Gourma, Ouahigouya, Manga, Dori, and Gaoua
4. Burkinabe Population: 16 million people
   1. Lobi
   2. Bambara
   3. Bobo
   4. Mandinka
   5. Dogon
   6. Mossi
   7. Senufo
   8. Fula
5. Burkina Faso is one of the poorest countries
6. The official language of Burkina Faso is French
7. Local languages: Moore, Fulfulde, Dioula
8. Independence of Burkina Faso: 1960 (from France)
9. Burkina is a landlocked African Country
10. Capital of Burkina Faso: Ouagadougou (1.5 million)
11. The Historian Joseph Ki-Zerbo was born in Burkina Faso

Religions in Burkina Faso:

1. Islam (65% of the Burkinabe population, 8 million) and Christianity
2. 30% of the Burkinabe are Christians (with Catholic majorities)
3. African Traditional Religions

More information about Burkina Faso (EENI African Portal).

Burkina Faso belongs to the West African Economic Area (African Civilisation).

Economic Profile of Burkina Faso:

The Republic of Burkina Faso established the development strategy for the future years to opening to the regional and global markets. Burkina wishes “to become a development centre in West Africa.”

1. Burkinabe Currency: West African CFA Franc
2. Agriculture: 90% of the Burkinabe population
3. Main cash crop in Burkina Faso: cotton
4. Top Burkinabe exports are cotton and gold (68%)
5. The main commodities exported by Burkina Faso are cotton, nuts, gold, cattle, goats, sheep, sesame seeds, fruits, and vegetables
6. Burkinabe GDP growth: 7%
7. Composition of the Burkinabe GDP: agriculture 35%, industry 23%, services 42%
8. The main sectors of the Burkinabe economy are agriculture, trade and mining
9. Inflation in Burkina Faso: 3%
10. The Regional Trade with other ECOWAS and WAEMU countries is very low, limited to agricultural products
11. Doing Business Index (WB): 154.
12. Positive liberalisation of the Burkinabe economy
13. Burkina is open to the foreign investors
14. Events:
    1. International Arts and Crafts Fair (SIAO)
    2. Pan-African Film and Television Festival of Ouagadougou

Ouandaogo Abdoul Karim (Student of the Master in International Business, University of Ouagadougou & EENI) winner of a WAEMU regional award.

National Trade Office ONAC. One of the main tasks of the ONAC is to promote the international trade between Burkina Faso and the rest of the World.

Group Soyaf (Burkina). Created in 1982 by Mr Salif Yameogo (Managing Director), the Group Soyaf has become one of the biggest holding companies with international standards in West Africa and more specifically in Burkina Faso. In this new millennium, the Group Soyaf drew Burkina Faso several large multinationals whose Telecel International Group in the area of communication and the Framlington Group, a Group of investors.

TELECEL (Burkina). Founded in 1987 by Miko Rwayitaré and owned by 80% to Orascom Telecom (Egypt) since 2000, Telecel International is a multinational Group based in South Africa and Geneva. With its years of experience in Africa, Telecel has developed a single expertise in the study of projects, the establishment and operation of cellular networks in the African continent. In all its activities, Telecel International combines national private investors in the shareholding of its associated companies.

(c) EENI Global Business School (1995-2022)
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