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Morocco-Brazil Bilateral Trade Hit ‘Historic High’ of $3.13 Billion in 2022

Rabat – Brazil’s Foreign Affairs Ministry has renewed its determination to continue boosting trade cooperation with Morocco.

New data from the ministry said that bilateral trade reached a “historic high of $3.13 billion,” attributing the change to opening up the Moroccan market to new Brazilian products.

The ministry shared the data following a phone conversation between the country’s Foreign Minister Mauro Vieira and his Moroccan counterpart Nasser Bourita on Thursday.

During the call, the two officials discussed cooperation in food security and military issues, as well as the resumption of air flights between the two countries.

“Morocco is a major supplier of phosphate fertilizers and the third largest supplier of fertilizers to Brazil,” the ministry said earlier this week.

Morocco is one of the world’s major fertilizer exporters.

The North African kingdom generated MAD 10.96 billion ($1 billion) in February thanks to phosphates and derivatives sales.

Brazil and Morocco have emphasized their determination to boost cooperation in all fields, including agriculture.

In February, the North African country announced its interest in Brazilian products to keep its beef market well supplied as prices in the country continue increasing, driving dissatisfaction among citizens.

Local production of red meat plunged due to soaring costs and climate issues.

Last month, Morocco received a shipment of cattle from Brazil, including 2.800 heads of cattle in the Jorf Lasfar Port.

The Regional Director of Agriculture in the Casablanca-Settat region, Hssain Rahaoui, stressed that the delivery is the largest and the first shipment to arrive from Brazil.

The Casablanca-Settat region is also expected to receive 6,448 heads, said the local official. 

Source : MoroccoWorldNews