Mauritania

Political relations

France and Mauritania historically have strong relations.

Economic relations

Trade between France and Mauritania stood at €306 million in 2022, and France had a surplus of €143 million. French exports to Mauritania total €225 million, making France the country’s fourth-largest supplier. They have increased by 26% and are primarily made up of pharmaceuticals (13%), farming products (13%, almost entirely grain) and machines and equipment for general use (11%). French imports from Mauritania have risen 80% to €81 million due to the rise in value of our three major imports: iron ore, which makes up 71% of our imports (€57 million), has risen 142%; farm products, accounting for 15% (16 million) are up 120%; and fisheries products, which represent 6% (6.5 million) have increased by 24%.

The major French contracts in the country are held by TotalEnergies in its exploration activities and Meriadiam, via its stake in the company TCN, which won the PPP contract for the container and hydrocarbons terminal in Nouakchott. Some 40 French companies, including subsidiaries of major groups, are present in Mauritania. They are active in a variety of sectors, including energy, construction, logistics, banking and other services, employing almost 2,000 people directly and indirectly in the country. A Mauritania-France Business Forum, organized by Medef International and Bpifrance, was held in Nouakchott from 8 to 10 March 2023, with the participation of some 40 French companies. In September 2022, Total Eren committed to a green hydrogen project in Mauritania, alongside the British company Chariot. At European level, a new EU-Mauritania sustainable fisheries partnership agreement was ratified in June 2022.

Although the country is working to improve its business climate (reform of the Investment Code and Land Code, creation in 2020 of an investment protection agency, etc.), it is still not very conducive to foreign investment. The country is ranked 41st out of 54 on the Ibrahim Index of African Governance (IIAG). French actors present in the country often report tax, customs and administrative irritants. Legal insecurity, unilateral breach of contract, limited human capital and the absence of confidentiality clauses are all issues faced by French companies.

Lastly, several major companies will have left Mauritania by the end of 2023. Société Générale, the only international bank present in the country, has decided to country and TotalEnergies has sold its distribution network to the Moroccan company Al Akwa.