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• GDP: US$5.8 billion (2006).
• Main exports: Cotton, gold and livestock.
• Main imports: Food, machinery and equipment, petroleum products, chemicals and pharmaceuticals, and textiles.
• Main trade partners: China, Thailand, France, Senegal and Côte d'Ivoire.
• Main exports: Cotton, gold and livestock.
• Main imports: Food, machinery and equipment, petroleum products, chemicals and pharmaceuticals, and textiles.
• Main trade partners: China, Thailand, France, Senegal and Côte d'Ivoire.
Economy
Mali is one of the poorest countries in the world with an average per capita annual income of about US$470 (2006), an unemployment rate of 14.6% and 64% below the poverty line (2001) . The economy is almost entirely agricultural even though less than 2% 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. 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.
Mali is one of the largest gold producers in Africa. 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 émigrés. Mali is a member of ECOWAS and various other West African multinational economic organisations.
The main cash crop is cotton, of which Mali is one of Africa’s largest producers and exporters. 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.
Mali is one of the largest gold producers in Africa. 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 émigrés. Mali is a member of ECOWAS and various other West African multinational economic organisations.
Business Etiquette
The forms of address are those of France, eg Monsieur le Directeur. Lightweight 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.
Office hours: Mon-Thurs 0730-1230 and 1300-1600, Fri 0730-1230 and 1430-1730.
Conferences & Conventions
Information can be obtained from the embassy (see Contact Addresses).
Business Contacts
Chambre de Commerce et d’Industrie du Mali
Place de la Liberté, BP 46, Bamako, Mali
Tel: 222 5036 or 9645.
Website: www.lamaisondelafrique.com
Place de la Liberté, BP 46, Bamako, Mali
Tel: 222 5036 or 9645.
Website: www.lamaisondelafrique.com
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