International Trade in Mali

News Related to International Trade in Mali

• Mali: UN officials welcome accord between Government and Tuareg rebels - Jun 19, 2013

  The United Nations envoy for Mali welcomed the signing today of an agreement between the Malian Government and Tuareg rebels that paves the way for inclusive peace talks as well as presidential elections next month.

  Source: United Nations

• Mali signs deal with Tuareg separatist rebels - Jun 19, 2013

  OUAGADOUGOU (Reuters) - Mali signed a ceasefire deal with Tuareg separatist rebels on Tuesday, paving the way for government troops to return to the northern, rebel-held town of Kidal before a presidential election next month.Related StoriesAnalysis - Optimism fading, Brazil protests put leaders on alertNigeria Islamists kill nine students in school attack - medicRousseff salutes Brazil protests, cities cut bus faresItalian court says Knox murder acquittal had inconsistenciesFour from U.S. forces killed in attack in Afghanistan

  Source: Reuters

• Ban appoints Rwandan General as military chief of UN integrated Mali mission - Jun 18, 2013

  Secretary-General Ban Ki-moon today announced the appointment of Major General Jean Bosco Kazura as Force Commander for the United Nations Multidimensional Integrated Stabilization Mission in Mali (MINUSMA).

  Source: United Nations

• Conflicts in Syria, Mali pose unprecedented threats to children - UN report - Jun 13, 2013

  Despite progress to protect children living in war-affected countries, the evolving character and tactics of conflict are creating unprecedented threats for children, particularly in Syria, Mali and the Central African Republic, a top United Nations envoy today said.

  Source: United Nations

• Mali government, Tuaregs reach ceasefire deal 'in principle' - Jun 11, 2013

  OUAGADOUGOU (Reuters) - A Malian government delegation and Tuareg separatist rebels have reached an agreement "in principle" that would allow planned elections in July to go ahead in the disputed northern Kidal region, a senior mediator in the talks said late on Monday.Related StoriesU.S. contractor who leaked NSA files drops out of sight, faces legal battleBombs, rockets hit north Iraq's Mosul police HQ, 24 killedPolish PM rejects move to Brussels job for nowIranian diplomat detained for three months without lawyer - sourcesU.S. holds high-level meetings on Syria, including on arming rebels

  Source: Reuters

• Mali government starts ceasefire talks with Tuareg rebels - Jun 09, 2013

  OUAGADOUGOU (Reuters) - Mali's government and Tuareg separatist rebels began talks on Saturday that both sides said they hoped would lead to a ceasefire ahead of national elections next month and pave the way for a permanent peace deal.Related StoriesKabul demands British forces transfer prisoners within weeksThousands rally against Ireland's proposed abortion lawU.S., China say leaders agree North Korea must shed nuclear weaponsGreek militant group claims bomb attack outside prison director's homeU.S. spy chief strongly defends surveillance, calls it legal

  Source: Reuters

• Mali: Timbuktu's cultural heritage more damaged than first estimated, UN agency says - Jun 08, 2013

  Damage to Timbuktu's cultural heritage due to fighting between Government forces and Tuareg rebels is more extensive than first estimated, a United Nations-led team said today following an assessment of the fabled city.

  Source: United Nations

• PARIS: Rafale's starring role over Mali - Jun 06, 2013

  PARIS: Rafale's starring role over Mali

  Source: Flightglobal

• Mali wants Sahel nations to do more about Islamist threat - Jun 05, 2013

  PARIS (Reuters) - Mali's foreign minister said on Tuesday that nations in the Sahara were not doing enough to stop an Islamist threat spreading across the region and urged more intelligence-sharing and joint military operations.Related StoriesItalian PM Letta turns to academics to reform constitutionMoscow mayor, Putin ally, says to quit and run in snap electionExclusive - Brazil closer to Boeing on jets deal after Biden visitNew generation of defectors expose North Korean abusesAnalysis - Glimmer of hope for cash-starved Pakistan economy as Sharif takes over

  Source: Reuters

• Suicide bomber botches attack in Mali - Jun 05, 2013

  BAMAKO (Reuters) - A suspected Islamist suicide bomber blew himself up but caused no other casualties in an attack in the northern Malian town of Kidal, the bastion of Tuareg separatist MNLA rebels, witnesses said on Tuesday.Related StoriesItalian PM Letta turns to academics to reform constitutionMoscow mayor, Putin ally, says to quit and run in snap electionExclusive - Brazil closer to Boeing on jets deal after Biden visitNew generation of defectors expose North Korean abusesAnalysis - Glimmer of hope for cash-starved Pakistan economy as Sharif takes over

  Source: Reuters

• UN warns of acute humanitarian needs in eastern Mali - May 29, 2013

  The United Nations relief wing today warned of severe humanitarian needs in Gao in eastern Mali, including the need to rehabilitate the water supply and increase food assistance.

  Source: United Nations

Business outline for Mali

Economic Overview

Mali is among the 25 poorest countries in the world. Farming and fishing are the two main activities of its economy. The agricultural sector represents more than a third of the GDP and employs slightly less than half of the labor force. The industrial sector is limited to basic food processing. The manufacturing sector generates a quarter of Mali's income and employs nearly one-sixth of the workforce. Lastly, the services sector contributes slightly less than half of the national wealth and employs nearly four out of ten workers .

Mali's main source of income comes from the export of cotton and gold. The positive factors that promote the country's economy are: a good progress in its agricultural yield, an improvement in the business environment, a steady increase in gold prices in the international market, the discovery of substantial oil reserves in the northern part of the country and the implementation of economic reforms. However, an inefficient public sector, inadequate infrastructures, ineffective administration and corruption continue to hamper the country's economic development. 

Mali is hardly integrated into the global financial markets and the effects of the global crisis were indirect, it created a higher level of vulnerability to the fluctuations in prices of raw materials (which the country exports) and a higher inflation. Mali has recently adopted many structural reforms, notably in the banking sector and cotton production. In 2011, Mali still depends from the aid of foreign sponsors and remains vulnerable to the global prices in oil, gold and cotton. The IMF is involved in 2010-2011 in the programs aiming to diversify the economic activities of Mali and to attract foreign investment. 

The economic growth of Mali remained solid in 2009 (+4.4%) and it continued strong in 2010 with an estimated growth of 5.1%, according to the World Bank.  This growth was mainly supported by the dynamic primary sector (and the production revival in the secondary sector).

FDI in Figures

The GDP's percentage of FDI stocks increased between 2000 and 2008. Nevertheless, the global economic crisis had an impact on Mali's FDI flows with a reduction of more than 36% of investment flows into the African continent in 2009. The variation in FDI stocks in 2010 was -41% (against +87% in 2009 and +360% in 2008).

The Malian government has established a major policy to promote FDI and export companies. Additionally, the government encourages competitiveness and the participation of the private sector in almost all sectors. The international sponsors and, in particular the IMF, have strongly supported this policy in 2010. However, the political and social unrest of its neighboring country, Ivory Coast, is a subject of major concern.

The main fields that attract foreign investors are gold mining, oil exploration and textiles. The main investor countries are France, China, Thailand and South Africa.

Foreign Trade Overview

Mali is a country open to foreign trade. Its trade policy aims at continuing the implementation of the structural adjustments program recommended by the IMF in order to diversify its economy and its foreign trade. 

Customs duties are not very high. There are practically no legal or regulatory trade barriers, and the authorities treat foreign companies in the same manner as national companies. Furthermore, the company's registration procedures have been simplified and there are no restrictions regarding the repatriation of capital or profits for foreign companies. 

Mali's payment balance is characterized by a structural deficit on its current balance. It was 347.3 billion in 2010 against 314.3 billion in 2009 and 476.2 billion in 2008. The situation should not improve in 2011. 

The country imports much more than what it exports. This has created a deficit trade balance during the last years, which has started to recede since 2008-2009. It still remains at almost USD 1 billion in 2010. The main trade partners of Mali are South Africa, the countries of UEMOA (West African Economic and Monetary Union) and the European Union. 

Exports and imports have experienced a steady growth in 2009 and 2010 (1.5%, 8.0% in 2009 and 14.0%, 4.4% in 2010, respectively) followed after a drop in 2008 (-13.0% and -19.1% respectively).