Brazil and Morocco sign agreements to attract investors

Brazilian Foreign Minister Ernesto Araujo and Morocco’s Foreign Minister Nasser Bourita signed agreements onMay 13 to boost bilateral trade and expand investment in both countries.

During the first five months of this year, Brazil accumulated a US$113m deficit in bilateral trade with Morocco.  With the agreement it seeks to reverse the situation in its favor. The agreements involve direct investment, air transport, cooperation between diplomatic academies, defense, double taxation, exchange and application of agricultural technology and triangular trade negotiations.

According to Chancellor Ernesto Araújo, the agreements are positive because they strengthen bilateral dialogue and build policies based on a solid legal statute instead of abstract ideas.  Morocco’s ambassador to Brazil, Nabil Adghoghi, stressed the importance of the agreements as a legal framework designed to facilitate bilateral relations. He said, “now it will set up a cooperation structure between Brazil and Morocco aimed at expanding not only trade but also stimulating negotiations on investments and projects.”

Sharing is caring!