Business and Regulatory Environment

Description

The World Bank Doing Business 2014 ranked Burkina Faso 154th out of 189 economies. It performed relatively better in dealing with constructions permits performs (60th), yet other indicators remain rather deficient, particularly those of trading across borders (174th) and paying taxes (160th). According to the 2014 Index of Economic Freedom, despite the fact that Burkina Faso had been on an upward trend in the index and its overall ranking is above global average, the country is still among the “mostly unfree” category. On the one hand, countries have made notable progress in advancing economic freedom and promoting regulatory reforms, such as simplifying the business start-up process and facilitating modest private- sector growth. On the other hand, systemic weaknesses remain in the protection of property rights, which is exacerbated by an inefficient judicial system that remains vulnerable to political influence, and hinder the development of a more dynamic entrepreneurial environment. Little progress has been achieved in the fight against corruption. The formation of monopolies and oligopolies is not regulated consistently due to strong performance of state-owned enterprises and their opposition, though the government remains partly committed to its privatization program. Although foreign trade officially follows non-discrimination principles, several factors–such as supplementary taxes on imports, targeted import bans, as well as significant non-tariff barriers such as inadequate infrastructure and corruption–limit foreign trade.

The Business Environment: Doing Business

Multilateral Trade Instruments

Abstract


The Trade Treaties Map tool is a web-based system on multilateral trade treaties and instruments designed to assist trade support institutions (TSIs) and policymakers in optimizing their country's legal framework on international trade

Instrument ratified :
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