“Negotiations are continuing with the Islamic Republic of Iran for the construction of an oil refinery,” Prime Minister Apolinaire Kyelem told the members of the parliament. He added that a memorandum of understanding had also been signed with Ghana for the construction of a multi-product pipeline to supply Burkina Faso with hydrocarbons.
Is there a cotton farm in Burkina Faso?
In Burkina Faso, there are no industrial cotton farms like those in other regions of the world. Rather, cotton growing is conducted by small entrepreneurs, whose annual production comprises an average of two tons of cotton seed as a cash crop, with a small portion retained for subsistence purposes.
Why does Burkina Faso need trade finance?
By supporting a strategic industry in Burkina Faso, which exports nearly 97 percent of all the cotton it produces, this trade finance transaction helped to underpin the country’s development and economic stability.
Will Iran build an oil refinery?
APA – Ouagadougou (Burkina Faso) – The head of the transitional government announced Friday that the country plans to increase its energy capacity. “Negotiations are continuing with the Islamic Republic of Iran for the construction of an oil refinery,” Prime Minister Apolinaire Kyelem told the members of the parliament.
What is cottonseed used for?
Nowadays, however, its use extends far beyond the textile industry, to products ranging from fishing nets to explosives based on nitrocellulose. Furthermore, the cottonseed remaining after the cotton is ginned, is used to produce oil, which, after being refined, becomes edible.
How important is the currency industry in Burkina Faso?
Contributing 35 percent of GDP and accounting for 60 percent of foreign currency earnings, the industry is of enormous strategic importance to the country. According to the UNDP’s Human Development Index, Burkina Faso is ranked 183rd out of a total 187 countries and territories.