Burkina Faso Trade

Subchapters:

  • Business Relationships
  • Foreign direct investment
  • FTAs ​​and Treaties
  • Development Cooperation
  • Prospective fields of study (MOP)

Business relations

Trade relations with the EU

Burkina Faso encourages foreign direct investment and offers tax and legal incentives, such as the ability for a foreign company to own 100% of a local company. However, lack of access to the sea and agricultural resources and the weakness of the industrial sector are major obstacles to investment. The business climate is still poor by international standards. The EU remains one of the most important trading partners.

  • Allcountrylist: Overview of major industries in Burkina Faso, including mining, construction, transportation, tourism, and foreign trade.
2017 2018 2019 2020 2021
Exports from the EU (million EUR) 713.7 712.8 725.5 798.5 862.4
Imports into the EU (million EUR) 188.2 194.3 267.5 129.9 149.7
Balance with the EU (million EUR) -525.5 -518.5 -458 -668.7 -712.7

Source: European Commission

Trade relations with the Czech Republic

Business cooperation between Burkina and the Czech Republic is mainly based on the defense industry, other business relations remain minimal.

2017 2018 2019 2020 2021
Exports from the Czech Republic (billion CZK) 0 0.1 0.1 0.2 ON
Imports to the Czech Republic (billion CZK) ON ON ON ON ON
Balance with the Czech Republic (billion CZK) 0 -0.1 -0.1 -0.1 ON

Source: CZSO

Trade relations with countries outside the EU

2017 2018 2019 2020 2021
Exports from countries outside the EU (million EUR) 1,658.0 2,011.5 2,027.7 2,925.4 3,278.0
Imports to countries outside the EU (million EUR) 2,976.0 3,409.5 2,770.2 3,373.2 3,523.3
Balance with non-EU countries (million EUR) -1,318.1 -1,398.1 -742.5 -447.9 -245.4

Source: EIU, Eurostat

Foreign direct investment

ON

FTAs and treaties

Treaties with the EU

ON

Contracts with the Czech Republic

Relations between the Czech Republic and Burkina Faso have not yet been regulated by any bilateral contractual documents. A memorandum of cooperation in the field of defense industry is being worked on.

Developmental cooperation

In 2021, ZÚ Accra successfully completed the implementation of the Small Local Project “Fabric of the future”. The project is focused on the production and sale of organic cotton fabrics. The aim of the project is mainly to help local women to ensure a living for themselves and their children.

In 2021, ZÚ Accra implemented 2 transformation projects in Burkina Faso. A project to prevent radicalism and violent extremism in the Central Plateau region. The project focused on the prevention of radicalization and extremism, and the second project Campaign for Responsible and Conscious Participation in the 2021 Municipal Elections in Burkina Faso.

In 2021, the EU supported humanitarian action in Burkina Faso with EUR 37.7 million, including funding to address food shortages. EU humanitarian aid focused on supporting internally displaced persons and host populations affected by the ongoing armed conflict. The goal was to address the needs of affected residents and support operations that would enable partners to operate in a complex environment. The EU also aimed to build the capacity of local organizations to prepare for and respond to emergencies.

Prospective fields of study (MOP)

Agricultural industry – machines, tractors, fertilizers, seeds, live animals

Construction industry – projects for the construction of 40,000 housing units

Mining industry – gold, manganese other commodities

Energy industry – electrification, construction of solar power plants

 

Practical telephone numbers (emergency services, police, firemen, information lines, etc.)

Country Code – 226

Shelf – 17

Fire department – ​​18

Ambulance – 112

Water emergency – 1111

Electricity emergency – 1130

COVID-19 – +226 1608989, +226 5219539

Important web links and contacts

Government of Burkina Faso – www.gouvernement.gov.bf

Public Service – www.servicepublic.gov.bf

Burkina Faso Investment Promotion Agency – www.investburkina.com

Central Bank of West African States – www.bceao.int/en

Ministry of Finance – www.finances.gov.bf

Ministry of Justice – www.justice.gov.bf

Ministry of Health – www.sante.gov.bf

Ministry of Public Service, Labor and Social Protection – www.fonction-publique.gov.bf

General Directorate of Taxes – www.impots.gov.bf

Information Service of the Government of Burkina Faso – www.sig.gov.bf

Ministry of the Environment, Green Economy and Climate Change www.environnement.gov.bf

eRegulations – www.burkinafaso.eregulations.org

Regulatory Authority of Electronic Communications and Posts – www.arcep.bf

The Burkina Faso Jurisdictions Virtual Reception Office – http://infos-pratiques.justice.gov.bf

Burkina Faso Customs – www.douanes.bf

Burkina Faso Investment Agency – www.investburkina.com

Ministry of Commerce, Industry and Handicrafts – www.commerce.gov.bf

Burkina Faso Trade