Under the theme ” Doing Business in Brazil”, The Moroccan Association of Exporters (ASMEX) organized a webinar in partnership with Harvard Consulting, yesterday Wednesday March 24, 2021. The meeting aimed to identify business opportunities in Brazil for Moroccan exporters.
“Brazil is a very closed market in itself, but the current economic difficulties and the devaluation of the local currency have created an unprecedented opportunity for foreign companies, whether through direct investment or a strategic partnership”, explained Raphael Allemand, expert in international development, who hosted the meeting.
In a statement, ASMEX said that the Brazilian market has 210 million inhabitants with a GDP of 2000 billion USD. The most active states are those of São Paulo and Rio de Janeiro with a concentration of nearly 70% of the country’s total consumption. The products most consumed in the context of mass distribution are dry groceries (24%), drinks (14.2%), butchery (12.9%) and perishables (12.2%).
Brazil is one of the countries most affected by the Covid 19 pandemic, recalls the association, which prompted the government to temporarily suspend customs duties on 50 health products. The health sector therefore represents a strategic issue for Brazil and an investment opportunity for Moroccan exporters, argues the association.
In addition, the expert in international development, Raphael Allemand, also indicated that the dietary habits of Brazilians are today in full transformation, with a boom in the so-called “diet”.healthy”, noting that sales of gluten-free products have indeed experienced an annual growth of 30 to 40% for 15 years. This sector therefore represents an important opportunity, and this trend is all the more amplified by the health context, he said, before stressing that new technologies and wine production also represent sectors of the future conducive to the investment.
To conclude, ASMEX indicated that Brazil is Morocco’s 6th export destination, equivalent to 855 million USD. In terms of products traded, Morocco mainly exports phosphate (87.6%) which makes it the 4th supplier of phosphate to Brazil. The Kingdom also supplies 90% of Brazilian sardine imports, which corresponds to 6.7% of Moroccan exports to this country. The other products sold on this market are clothing (2.8%) and electric wires and cables (1.1%).
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