Burkina Faso and Iran have taken a significant step towards enhancing their economic collaboration through a virtual business forum aimed at exploring mutual opportunities.
Organised by Burkina Faso’s embassy in Iran, the event brought together business leaders from both nations to bridge the information gap between entrepreneurs.
‘Ambassador Mamoudou Kabore of Burkina Faso underscored the forum’s role in fostering economic growth and highlighted key sectors for potential collaboration, including agriculture, renewable energy, and technology transfer.
This initiative reflects a shared commitment to diversify international partnerships and tap into new markets. The forum builds on recent diplomatic efforts to strengthen ties, including the signing of eight cooperation agreements in October 2023 that cover various sectors such as energy, mining, pharmaceuticals and defense.
Mahamady Sanoh, Vice President of Burkina Faso’s Chamber of Commerce, praised these diplomatic initiatives and noted that the forum would provide Burkinabe businesses with an opportunity to showcase their expertise in cotton and sesame production.
The partnership extends beyond economic interests, with Iran offering expertise in petrochemicals, pharmaceuticals, and machinery. Additionally, Iran has expressed a willingness to share its security expertise with Burkina Faso, particularly as the West African nation faces significant security challenges in the Sahel region.
Both countries recognise the potential benefits of this expanding relationship. Burkina Faso can access Iranian technical knowledge and products, while Iran, facing international sanctions, seeks new markets for its goods and services. This partnership aligns with both nations’ efforts to reduce dependency on Western powers.
Despite the promising developments, challenges remain, including logistical difficulties due to geographical distance and potential international scrutiny. However, both countries appear committed to overcoming these obstacles, and the virtual business forum represents a practical step towards realising the potential of this emerging partnership.