World Country Guide

Business Profile

Economy
Mali is one of the poorest countries in the world with an average per capita annual income of about US$200. The economy is almost entirely agricultural even though less than 2 per cent of the land is cultivable. Livestock and subsistence crops such as millet, sorghum, maize and rice are raised for domestic consumption. The main cash crop is cotton, of which Mali is one of Africa’s largest producers and exporters, along with groundnuts, fruit and vegetables. The Malian cotton industry, upon which one-third of the population depend for their livelihood, is in serious difficulty because of exceptionally low world prices, caused in part by subsidies provided to cotton growers in the industrialised world (in 2003, this was the subject of a major dispute at the World Trade Organisation). Local manufacturing has grown steadily, albeit from a very low level, and is mostly concerned with the processing of agricultural produce: food, drinks and tobacco are the main products. Construction materials are also produced locally. There is a small but fast-growing mining sector centred on Mali’s recently discovered gold deposits. Mali is now the third-largest gold producer in Africa after South Africa and Ghana, and the growth in this sector largely accounts for the country’s rapid 2002 growth rate of 9 per cent. Marble, salt and phosphates are also being exploited; there are also known reserves of iron ore and uranium. Much of the economy has been privatised and deregulated since 1997 under the supervision of the IMF with which Mali presently enjoys good relations. Mali has also been one of the main beneficiaries of the debt cancellation for the poorest countries, and it continues to rely on foreign aid and remittances from migrs. France is Mali’s major trading partner, providing a quarter of imports and taking a similar proportion of exports, followed by Cte d’Ivoire, Senegal, Germany and Switzerland. Mali is a member of ECOWAS and various other West African multinational economic organisations.

Business
The forms of address are those of France, eg Monsieur le Directeur. Lightweight or tropical suit and tie are advised for only the smartest meetings. Otherwise, a light, open-neck shirt is worn. It is essential to be able to speak French for business purposes. Office hours: Mon-Thurs 0730-1230 and 1300-1600, Fri 0730-1230 and 1430-1730.

Commercial Information
The following organisation can offer advice: Chambre de Commerce et d’Industrie du Mali, BP 46, place de la Libert, Bamako (tel: 222 5036 or 222 9645; fax: 222 2120).

Conferences/Conventions
Information can be obtained from the Ministry of Foreign Affairs (Protocol Section), Kounoulba, Bamako (tel: 225 489; fax: 228 559 or 225 226).