The Arab Brazilian Chamber of Commerce and Morocco’s Investment Promotion Agency (AMDI) have signed a memorandum of understanding this Tuesday (11th) in Rabat, the Moroccan capital. The purpose of the document is to promote cooperation in investment and implementation of joint projects between companies in the two countries.
The agreement was signed by the Arab Brazilian Chamber Foreign Trade VP Rubens Hannun and AMDI’s acting general manager Ahmed Fassi Fihri. “The deal will remain in effect for three years. We will ascribe priority to certain sectors in Morocco and Brazil so that we may boost our business,” said Hannun.
In April, a delegation from AMDI visited Brazil, where it held a seminar to present investment opportunities in Morocco. On that occasion, the two organizations committed to mutually cooperating, the Chamber VP explained.
“We will start working to devise an action plan, including at least one event each year, and missions,” the executive said. He noted that he has handed Fihri a study, conducted by the Arab Brazilian Chamber, containing the main features of Brazil’s economy, population, market, and opportunities that may appeal to Moroccans.
The memorandum of understanding signed in Rabat sets forth that cooperation actions should include events, conferences, business missions, information sharing, visitation programs, and assistance to companies from either country that are willing to enter into partnerships.
The agreement’s signing was attended by the Brazilian ambassador to Morocco, Frederico Duque Meyer. “The ambassador said this is a very valid initiative, especially considering that Brazil has become the third leading importer of Moroccan products,” said Tamer Mansour, the Arab Brazilian Chamber Government Relations executive, who is also in Rabat.
According to him, during a meeting at the embassy, the diplomat called on Brazil to export more generic drugs to Morocco.
