Burkina Faso is a small market with low per capita income and reliance on subsistence agriculture. Nevertheless, the prospects for U.S. trade and investment opportunities are good. Burkina Faso has pursued a World Bank/International Monetary Fund Structural Adjustment Program since 1991. The public sector is being streamlined, privatization is continuing, most trade barriers have been lifted, and prices have been liberalized.
Burkina Faso's politics and infrastructure also make it a good business bet. The country's capital, Ouagadougou, is connected by rail to Abidjan, a modern port-city in the region's economic "elephant"- Cote d'Ivoire. The president of Burkina Faso has been in power since 1987 and has moved the country towards democratization. Official relations between the United States and Burkina Faso are very good.
Foreign investment is welcome in Burkina Faso. Investment and mining codes permit full repatriation of profits, with 100 percent ownership of companies, and many tax exemptions. Investors have shown more interest in the mining industry (particularly the gold sector) since Burkina lies between the gold-rich countries of Mali and Ghana. As of mid-1997, more than 140 requests had been filled for permission to explore for gold.
Competitively priced necessities such as generic pharmaceuticals, medical supplies and dairy products, along with fertilizers and chemical products are best poised to enter the market. Telecommunications, computer equipment, and used clothing are U.S. exports which already capture a significant market share.
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Doing Business in Burkina Faso 