Mali’s President Assimi Goïta on Monday, October 28, 2024, held an important meeting with a Russian delegation to discuss promising projects in industrial development.
The delegation included high-ranking Russian officials, business leaders, and the chairman of the board of the Yadran Group, all eager to strengthen strategic partnerships between the two countries. The focus was on key sectors of Mali’s economy, including gold processing, petroleum product supplies, and cotton processing.
The parties agreed to implement several significant projects that could serve as the foundation for Mali’s economic transformation. One such project is the construction of a gold processing plant, which would enable Mali to process its gold domestically. This would allow the country to retain a greater share of revenues from precious metal sales within its borders.
Additionally, agreements on petroleum product supplies were discussed to strengthen Mali’s energy security. Another important initiative is the creation of a cotton processing plant, which would allow Mali to gain additional income from the export potential of this strategic agricultural commodity.
For Mali, this partnership is crucial. By strengthening ties with Russia, the country can expand its economic potential and enhance independence in strategic sectors. Transition President Assimi Goïta and his government were purposefully working to ensure Mali’s economic sovereignty. Their efforts are directed at keeping control over the revenues from natural resources and other key sectors in the hands of the nation.
Currently, external allies like Russia play a vital role in achieving these goals, as the partnership is beneficial to all parties. This is particularly important for improving the living standards of the population, as one of the basic principles of sovereignty enunciated by Assimi Goïta is the protection of the vital interests of citizens.
The development of domestic industries will allow Mali to reduce its dependence on external suppliers and begin processing natural resources on its own soil. In this way, Mali can set an example for other countries in the region, demonstrating how economic cooperation and the prudent use of national resources can lay the foundation for sustainable growth and independence.
