The Economic and Commercial Section
The Economic/Commercial Section led by Officer Sarah Gourde advises and assists the Ambassador on economic, commercial, and development issues in Burkina Faso. The section plays a key role in creating a receptive environment for U.S. business and investment while assisting Burkinabe enterprises to gain access to American economic, agricultural, environmental, scientific and technological resources. The Economic/Commercial Section also monitors developments in the local economy such as market access, intellectual property rights, and macroeconomic policy that may impact local and international business environments. The Economic/Commercial section advocates for U.S. businesses and works to strengthen U.S.-Burkina Faso economic and commercial ties. Key areas include:
Grant
The Ambassador’s Self-Help Fund (le Fonds d’Auto-Assistance) is a flexible fund that awards grants to community organized development projects in the farthest reaches of the country. The main objective of the Self-Help Fund is to improve basic economic, social, and environmental conditions at the community level by encouraging grassroots, community-based initiatives. Each year, the fund gives financial assistance to small scale development programs in education, agriculture, health, development, small enterprises, commercial cooperatives, literacy centers, and health clinics.
Grants received after March 30 will be considered for the next fiscal year. Detailed instructions and application for the Self-Help Fund (en français).
Business Development
The Economic/Commercial Section helps foster business development for both American businesses who want to do business in Burkina Faso and for Burkinabe enterprises who want to export their products to the U.S. Programs.
Gold Key Service is a unique opportunity offered by U.S. Embassies to assist American businesses who wish to expand their export opportunities by creating business partnerships abroad. Gold Key Service is specifically tailored to an individual business’ needs; from hotel reservations, transportation, interpretation and translation services, to meetings with leading business and government officials. Gold Key Service also includes customized market and business briefings prior to meetings with local businesses and assistance with follow-up strategies. To arrange for Gold Key Service, contact the Economic/Commercial Assistant at (226) 50-30-67-23 or caborefh@state.gov
For more detailed information about doing business in Burkina Faso, download the 2009 Country Commercial Guide. Additional export information can be found at www.export.gov which includes the latest market analyses, trade events, information on trade and investment climate, and trade leads. Select “Market Research” in the Find Opportunities menu and follow the link to the Market Research Library. Registration with the U.S. Commercial Service is required to obtain many of the reports.
The African Growth and Opportunity Act (AGOA) was signed into law in 2000. AGOA promotes the opening of African economies and building of free markets and offers eligible nations such as Burkina Faso, the opportunity to export over 6,000 goods duty-free into the United States. The Economic/Commercial Section works to promote awareness among local entrepreneurs about this unique opportunity and helps them to establish ties with trade experts from the USAID West African Trade Hub (WATH) in Accra, United States Trade and Development Agency (USTDA) and the United States Department of Agriculture (USDA).
Trade Shows and Professional Development Programs – The Economic/Commercial Section is the point of contact for Burkinabe businesses who wish to attend a trade show in the United States or who are interested in attending a professional development seminar on subjects such as packaging, phyto-sanitary standards, small business finance, and marketing.
Poverty Reduction
Millennium Challenge Corporation (MCC) is a United States Government corporation that seeks to reduce poverty through sustainable economic growth. MCC is based on the principle that aid is most effective when it reinforces good governance, economic freedom and investment in people. In 2005, Burkina Faso became the recipient of $12 million Threshold Program to address educational inequality for girls, through the construction of 132 girl friendly schools in areas where their attendance rates are particularly low. Burkina Faso’s subsequent selection as an MCC Compact-eligible country comes in recognition of the success of its Threshold Program along with its efforts to improve performance on various independent and transparent policy indicators.
In July 2008, the Millennium Challenge Corporation signed a five-year, $480.9 million Compact with the Government of Burkina Faso aimed to reduce poverty and stimulate economic growth through strategic investments in four projects. The projects will increase investment in land and rural productivity through improved land tenure security and land management; expand the productive use of land in order to increase the volume and value of agricultural production in Project zones; enhance access to markets through investments in road network; and increase primary school completion rates for girls. The MCC Compact in Burkina Faso entered into force (EIF) in July 2009, initiating the 5-year timeline for project implementation.
Other resources: http://www.america.gov, http://www.buyusa.gov