Officials of the Qatar Businessmen Association (QBA) and Shugel Maiga, the Prime Minister of the Republic of Mali, held a recent meeting to discuss investment opportunities available in Mali and Qatar.
At the same time, the officials examined the possibility of organising a ‘Qatari-Mali Economic Forum’, which will be sponsored by the governments of both countries for the benefit of businessmen in Qatar and Mali.
The meeting with Maiga was held in the presence of QBA Chairman HE Sheikh Faisal bin Qassim al-Thani and QBA first deputy chairman Hussain Alfardan, as well as QBA board member Saud al-Mana and QBA deputy GM Sarah Abdallah.
Also attending the meeting were Mali’s economic advisor to the president, Asimi Gueta, and the head of Mali’s Chamber of Commerce and Industry, Youssef Bathili, as well as the economic adviser to the Parliament.
Maiga said Mali’s opportunities for Qatari investors include the agricultural sector, which provides about 2mn hectares of fertile land, in addition to infrastructure, energy, healthcare, mining, and tourism.
The Prime Minister stressed that Mali ranks first in Africa in cotton production, which comprises only 2% of manufacturing industries, making the sector important for foreign investments and the textiles industry, which is a huge market in West Africa consisting of 350mn consumers.
Mali’s mining industry, especially in the area of gold, has made the West African nation one of the richest African countries in this sector, according to Maiga.
Sheikh Faisal underscored the importance of identifying productive industries that Mali is offering to Qatar’s private sector, which do not compete with Mali’s businessmen. He also welcomed the invitation to explore investment opportunities in Mali's capital, Bamako.
He stressed that QBA and its members are interested in exploring global markets, stressing that they are “fully prepared” to study investment opportunities in Mali. This confirms the strong relationship between the State of Qatar and Mali, and that the private sector can contribute with a positive role in these relations, Sheikh Faisal said.
Alfardan said Maiga’s visit to the QBA office will contribute to the strengthening of mutual relations and co-operation between Qatar and Mali, especially because it would shed light on investment opportunities that could attract Qatari businessmen.
He also noted that QBA supports the State of Qatar's approach to strengthening co-operation with all countries in line with its plans for economic diversification and the establishment of investments outside the country.
Alfardan explained that Qatar is interested in increasing its investments in Africa and stressed QBA’s support towards this direction and the readiness to encourage Qatari business investors to invest in Mali and take advantage of these opportunities.
Al-Mana said there are “distinguished relations” between the State of Qatar and the Republic of Mali, and there are reciprocal visits at the level of the leadership of the two countries.
He also stressed that “stability is important for launching private projects,” adding that QBA will study the projects proposed by the Mali government and its Chamber of Commerce and Industry to identify the potential investment opportunities.
Mali controls a significant stock of natural resources and minerals, placing it among the most important African countries in production and stocks, most notably: uranium, gold, phosphate, salt, granite, kaolin represented by a pure white clay material, limestone, and bauxite.
Mali ranks third in Africa in terms of gold production with 61.63 tonnes after Ghana and South Africa, and despite its vast desert area that covers more than 60% of its total area, Mali is one of the African countries rich in agricultural crops and livestock that it is also considered an essential resource for underprivileged families.
It is also worth noting that Mali’s exports exceed $2.5bn, the majority of which are to China, Malaysia, Indonesia, and India, while its imports range to about $2.9bn with France taking the lead followed by Senegal, the Ivory Coast, and China.
Related Story