The ultimate objective of this cooperation between Mali and Burkina is to create a common economic space, where the wealth generated by trade and investments will be redistributed to improve the living conditions of the populations.
The Bamako International Conference Center (CICB) served as the framework for holding the first Economic Days of Burkina Faso in Mali. Placed under the sign of the Confederation of Sahel States (AES), this meeting aims to lay the foundations for strengthened economic integration between the two nations and more broadly, between the members of the AES. This first edition was chaired by the Malian Prime Minister, Major General Abdoulaye Maïga.
The official opening brought together high-ranking personalities, including Ms. Julienne Dembélé/Sanon, Ambassador Extraordinary and Plenipotentiary of Burkina to Mali, as well as ministers from the two countries. The chosen theme, centered on economic integration and wealth creation, reflects the desire of the region’s leaders to transform political and economic challenges into growth opportunities.
According to Ms. Dembélé/Sanon, “ these days are not limited to commercial exchanges, but constitute a showcase of Burkinabè and Malian know-how “. For his part, the Malian Prime Minister welcomed this initiative, stressing that it is part of the vision of the AES heads of state to strengthen economic defense while consolidating strategic partnerships.
Trade relations between Burkina and Mali are characterized by strong interdependence. According to the latest available figures, in 2022, bilateral trade reached significant volumes. In Burkina, we note exports of 4.55 billion USD, with flagship products such as gold and cotton. For Mali, it is indicated that exports were 3.91 billion USD, mainly in the mining and agricultural sectors.
However, the joint withdrawal of the two countries from the Economic Community of West African States (ECOWAS), which will be effective in January 2025, could lead to restrictions on the free movement of goods and people. These political tensions could also slow down certain regional investments. Nevertheless, the ECOWAS Bank for Investment and Development (EBID) continues to maintain financial relations with these Sahelian nations.
Despite these challenges, the economic outlook remains promising. According to projections for 2025, Burkina could become the fourth largest economy in the CFA zone with a GDP of 21.9 billion USD, slightly surpassing Mali, estimated at 21.6 billion USD.
The Economic Days, which will continue until December 4, offer a varied program. This is because commercial exhibitions are planned to highlight Burkinabè and Malian companies in key sectors such as agriculture, industry and new technologies. There will also be B2B meetings creating opportunities for cross-border investments and partnerships. In addition to these activities, there are cultural initiatives aimed at promoting intercultural dialogue to strengthen the common regional identity.
According to the organizers, this event is part of a logic of collective economic defense. The consolidation of ties between Mali and Burkina is seen as a springboard for regional integration and resilience in the face of global economic challenges.
Outlook for the future
Leaders from both countries hope that this initiative will be the starting point of a collaborative economic model for the AES. The ultimate objective is to create a common economic space, where the wealth generated by trade and investments will be redistributed to improve the living conditions of populations.
Prime Minister Abdoulaye Maïga urged participants to seize this historic opportunity to chart a new path. “ Only together can we transform our region into a zone of shared prosperity “, he said, calling for concrete commitments to perpetuate this emerging cooperation.
MD/ac/APA
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