Trade Agreements - Burkina Faso
REGULATIONS AT THE DIRECTOR OF TRADE AND THE WORLD TRADE ORGANIZATION
Trade agreements can be an important lever for growth, by promoting increased trade between member countries on the one hand and with the rest of the world on the other. These trading blocs can be sources of increased trade and export expansion, thereby enabling member countries to finance economic growth.
Burkina, like the other countries belonging to these groupings. Several structures are in charge of trade in Burkina Faso :
- Thanks to the World Trade Organization (WTO) training institute, the rules and procedures relating to regional trade agreements, preferential market access, rules of origin, safeguard measures and the negotiation of economic partnership with the European Union are regulated.
- The DGC is a central structure of the MCIA. She oversees the implementation of the MCIA's trade development policy. It is responsible, among other things, for the negotiation, application and monitoring of trade agreements. Also, the promotion of Burkina Faso's trade with the rest of the world and also the promotion of local products.
Some trade agreements:
- EBA initiative (everything but arms) is a preferential trade agreement that grants products from LDCs duty-free access. There are also initiatives like AGOA, Chinese preference, from India. These various initiatives benefit women entrepreneurs.
- Simplified Commercial Regime (STR)
- All products are concerned for the TSA initiative except weapons. For the rest, the numbers of products concerned vary from one agreement to another.
- Commercial education can be obtained from several national bodies such as the DGC, Chamber of Commerce, the Export Promotion Agency, the one-stop shop for trade, the SILVIE Platform.
- COs are issued on physical paper and obtained at the DGU-CI Bobo and Ouagadougou.
a financing service adapted to their reality
Awareness-raising workshops on the opportunities presented by these different trade preferences.
Table: main export products (in percentage) of ECOWAS countries
Cotton (59%), walnut (11%)
Diamonds (58%), coffee (22%)
Uranium (54%), livestock (20%)
Refined petroleum (16%), phosphorus derivatives (12%)
Cement (29%), cotton (13%)
Source: Nations Unions, Comtrade database, www.intracen.org
These products represent at least 10% of total exports.
West African Monetary Zone (WAMZ).
Within the framework of trade integration , efforts have made it possible to establish the trade regime of the community: removal of tariff and non-tariff barriers, Common External Tariff (TEC) since January 2006.
A partial equilibrium analysis of the impact of ECOWAS ‐ EU Economic Partnership Agreement”.