Mali- Business Opportunities
The Ambassador Mr. H.E. Sekou Kasse and Chairman & Managing Director Mr. Vikash Mittersain of the Embassy of the Republic of Mali have accepted the Honorary Membership of Global India Business Forum, in the presence of Global President Dr. Jitendra Joshi, Global Coordinator Deepali Gadkari and Global Youth Coordinator Mr Abhishek Joshi. Realizing Strengths of Global India Business Forum and Consulate of the Republic of Mali and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties will be associated with each other in mutual cooperation to facilitate mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking.
Mali, or the Republic of Mali, is a landlocked country located in West Africa and is the eighth largest country in Africa in terms of land area which is approximately 12,40,000 sq. km. The population of the country as of 2020 stands at 2,02,50,833. The capital of Mali is Bamako. The country became independent from the French rule in the year 1960. The country shares its borders with countries like Algeria, Niger, Burkina Faso, Ivory Coast, Guinea and Senegal. Mali is considered to be one of the hottest countries in the world and it lies in the Torrid Zone. Most of the country lies in the southern Sahara Desert which is why the country is extremely hot and is dust-laden too. The country also receives negligible rainfall and the drought situation is quite frequent in the country too. The country produces natural resources like gold, uranium, phosphates, salt, kaolinite and limestone.
Business Opportunities in Mali
The country’s economy mainly depends upon agriculture and mining to generate revenues for the country. The wealth of Mali lies in conducting mining activities and producing agricultural commodities, livestock and fish. Mali mainly produces cotton, cereals and rice. The rice products produced in Mali is giving competition to the rice quality produced by Asian countries. Another important sector which can act as a source for immense business opportunities for Mali and other countries is the mining sector. Mali is rich in deposits of Gold and Phosphate. There are deposits of Copper and Diamond found in the region too, but Gold and Phosphate have experienced major exports.
Exports and Imports in Mali
Exports of Mali decreased from 446.81 CFA Franc Billion in Q3 of 2019 to 440.68 CFA Franc Billion in Q4 of 2019. On the other hand, imports of the country saw an increase from 703.39 CFA Franc Billion in Q3 of 2019 to 765.60 CFA Franc Billion in Q4 of 2019.
Top Exports of Mali
The top export of Mali is Gold which accounts for 72% of the total exports of the country, followed by cotton, fertilizers, oil and iron. The main export partners of the country are South Africa, Switzerland, Burkina Faso and Senegal.
Top Imports of Mali
The top import of Mali is fuel which accounts for 42% of total imports of the country followed by capital equipment and foodstuffs. The main import partners of the country are China, Senegal, France and Ivory Coast.