The overall vibe is nice. The acoustic sounds pretty good --- maybe a little heavy on the pick transients for my taste, but that's just a personal thing.
This sounds like a backing track though for a vocal song. Are there supposed to be vocals?
I like the little bongo part, but it sounds a little small and dry.
The bass sounds a little rough at times ... there were a few wrong notes (or atleast notes that clashed a bit with the chords)
If this isn't a vocal song, I would suggest adding a melody of some sort. I couldn't tell what the instrument was in the beginning that was doing a really high melody, but it seemed to be lacking something. It didn't really seem to work, from an arrangement standpoint. It was also buried in the mix a bit, so it was tough to make out exactly what was going on.
It seemed to go on a bit long to not have some kind of memorable melody.
Anyway ... that's my two cents.