Morocco and Brazil deepen ties to boost economic growth

Morocco and Brazil are looking to deepen their economic relationship, as officials from both countries met on July 10 in Marrakesh to explore avenues for increased trade and investment. The meeting, reported by government-friendly outlet The North Africa Post, focused on translating diplomatic ties into concrete business activity.

Organised by the LIDE Group, the forum brought together former Brazilian President Michel Temer, alongside ministers, diplomats, and business leaders. Discussions covered sectors such as agribusiness, aeronautics, commerce, energy, tourism, technology, and services.

The Kingdom’s Investment Minister, Karim Zidane, addressed over 100 business executives and leaders at the LIDE Forum, arguing that Morocco offers strategic advantages to Brazilian investors due to its geographic position linking Europe, Africa, and the Americas. He described the country as a “crossroads” for trade and business activity between Europe, the Arab world, sub-Saharan Africa, and the Americas.

The economic ties have demonstrated promising growth, with bilateral trade reaching $2.5 billion in 2023, tripling over two decades. Despite this, Zidane admitted that the mutual investment remains disappointingly low, suggesting that the commercial potential of the relationship is still far from its goal.

Emphasising the importance of cooperation and shared goals, Zidane noted, “Morocco and Brazil share more than ancient history — we have a common vision of the future,” highlighting that advancement is achieved through investment and cooperation grounded in trust. The assembly demonstrated the commitment of both countries to move beyond traditional diplomatic relations toward substantive economic partnerships.

The Marrakesh meeting marks an important milestone in strengthening South-South cooperation, as both countries aim to harness their complementary strengths for shared prosperity.

The North Africa Post/ Maghrebi