Mauritanian Minister of Economic Affairs and Development, Dr. Abdallah Ould Souleymane Ould Cheikh Sidia, presided over the opening of the Mauritano-American Economic Forum in Nouakchott. The forum, organized in partnership with the Mauritanian National Employers' Union (UNPM), the Mauritano-American Business Council, and the Washington Insight Group, brings together a significant US delegation of businessmen, representatives of companies, and economic institutions. The meeting aims to allow them to better understand investment opportunities in Mauritania, explore cooperation prospects, and lay the foundations for sustainable economic and commercial partnerships between the private sectors of both countries.
In his opening speech, Dr. Ould Cheikh Sidia welcomed the US delegation and expressed his hope that they would have a pleasant stay in Mauritania. He highlighted that this visit constitutes an opportunity to take stock of the significant transformations underway in the country, discover investment opportunities directly, and exchange ideas with decision-makers and their counterparts in the Mauritanian private sector. The minister emphasized that the arrival of this delegation marks an important step in the relations between Mauritania and the US, reflecting a common will to elevate economic, commercial, and investment cooperation to the level of the potential and ambitions of both countries.
Dr. Ould Cheikh Sidia situated this meeting within the vision of President Mohamed Ould Cheikh El Ghazouani, who attaches particular importance to strengthening Mauritania's international partnerships. He recalled the President's participation last year in a meeting at the White House with the US President, alongside four other African leaders, dedicated to strengthening partnerships with the African continent, particularly in the economic and commercial fields. The minister also mentioned that the government, led by Prime Minister Mokhtar Ould Djay, is pursuing ambitious reforms aimed at improving the business climate and reinforcing the legal security of investments.
Mauritania has a favorable investment code for national and foreign investors, a legal and regulatory framework dedicated to public-private partnerships, and an agency responsible for promoting investments. The minister highlighted the country's security and stability as essential assets, which are crucial for investors. He also emphasized Mauritania's strategic position on the Atlantic and the significant investment opportunities it offers in high-value-added and high-growth sectors, such as extractive industries, energy, agri-food, maritime resources, agriculture, livestock, infrastructure, transport, and logistics, as well as the digital economy, telecommunications, financial services, health, and education.
The minister stressed that the challenge now is to have a coherent vision allowing the country to accelerate its development through an integrated approach based on transforming resources into local added value, developing processing industries and value chains, and transferring technologies and know-how, as well as training national skills. These areas, he noted, offer a vast field of cooperation with the US private sector, which has significant resources, expertise, and technologies. The recent extension of the African Growth and Opportunity Act (AGOA) by the US Congress until December 31, 2028, which benefits 32 countries, including Mauritania, was hailed as an important step that will open the way to new advances.
Oscar Rahm, the first vice-president in charge of international affairs of the Washington Insight Group, indicated that this was the first US business mission to Mauritania, marking the beginning of a new chapter in economic and commercial relations between the two countries. He emphasized that this mission goes beyond a simple commercial delegation to launch a new dynamic of cooperation. Rahm highlighted Mauritania's significant potential, linked to its natural resources, strategic position between North Africa and West Africa, and opportunities in energy, mining, agriculture, fishing, and its young and ambitious population.
The participants expressed optimism about the future of economic relations between Mauritania and the US. The Mauritanian government is committed to creating an attractive investment climate, and the US delegation is eager to explore opportunities for cooperation and investment. The forum is expected to lead to concrete results, including memoranda of understanding, commercial agreements, investment opportunities, technological partnerships, and joint projects. The meeting demonstrates the commitment of both countries to strengthening their economic ties and promoting sustainable development.
Key points
- The Mauritano-American Economic Forum aims to boost investment and cooperation between Mauritania and the US.
- The forum brings together a significant US delegation of businessmen, representatives of companies, and economic institutions.
- The meeting is expected to lead to concrete results, including memoranda of understanding, commercial agreements, and investment opportunities.
