Alexandre Rocha*
São Paulo – The minister of Industry and Trade of Morocco, Salaheddine Mezouar, defended today (12) the establishment of a “true” economic bloc between the Arabs and South Americans. He also stated that the investors from both regions must stop eyeing the rich countries a little and start showing greater interest in opportunities existing in developing countries.
“What we have already done in a natural way with the countries of the north, we can also do together (in the south),” stated the minister during an interview to Brazil-Arab News Agency (ANBA). In the morning he participated in the seminar opening the Brazil-Arab Countries Business Meeting, an event organized by the Arab Brazilian Chamber of Commerce (CCAB), which is taking place in São Paulo, the financial capital of Brazil.
In his evaluation, with the summit and the negotiation of accords, the governments are doing their part to provide incentives to trade and investment between both regions. “When governments provide orientation to investors with regard to a region, this ends up generating results,” he declared. Morocco, for example, is currently negotiating a trade agreement with the Mercosur.
In the case specifically of Brazil and Morocco, the minister believes that there is a possibility of reciprocal investment in sectors like agribusiness, fishing, auto industry, infrastructure, concessions for public constructions and finance. But it “depends on the capacity and dynamism of the private sector,” he alerted. Read below the main stretches of the interview:
ANBA – What is your evaluation of the events that have taken place in Brazil, with the summit and the business meeting in São Paulo?
Salaheddine Mezouar – The summit is of strategic and historic importance within the transformations that are taking place in world trade. The Brazilian initiative is of great importance having made these two great regions of the world, which have a great economic, commercial, and investment potential, come together for the first time in a meeting like this one. This shows that our countries have decided to change the rules of the game in world economy and globalisation, so as not to go against their interests. These are rules that must take into consideration the interests of different peoples.
Do the rules of the world economy have to change?
Yes. But if we want the rules to change, our countries have to come closer and really form an economic bloc, one that simplifies economic transactions and investment, so that the mentality and targets of investors from our countries are not turned exclusively to the rich countries, but also to the countries in the south.
Do you believe that this is possible, that the investors will take their eyes off the north and look more to the south?
That is the good aspect of globalisation. This is the first time that we are seeing a meeting of this proportion. There have always been meetings between one country and another, but I believe that this is the first time there is a meeting between two regions, at least in the economic area. This dynamic is going to have a great impact. In any part of the world, investors make their decisions based on the opportunities and safety they see. And, when governments provide orientation to investors with regard to a region, this ends up generating results.
Do you believe that the governments that give this kind of orientation are going to create clear rules for the investment?
I believe that his has already started. In the case of Morocco, for example, we are sure that we have already begun. We are signing free trade agreements, simplifying investment processes and trade with other countries, with the Mercosur. And we are doing this due to our own strategic conviction. Some countries are going to move faster than others, but the process is already in progress.
What investment possibilities do you see between Brazil and Morocco?
I believe that the countries may develop everything that is related to agriculture and agribusiness, fishing, all products related to these sectors. I also believe in all that is related to the automobile sector, with large constructions, concessions in the areas of ports and airports and also in business in the financial sector, like banks and insurance. There are many opportunities.
What we have already done in a natural way with the countries of the north, we can also do together. And there is much to do, both in your country and in ours, taking into consideration the geo-strategic position of both. But I believe that this depends on the capacity and dynamism of the private sector. Governments already see clearly that they must help, provide incentives, simplify. Now, the real work must be delegated to the private sector for things to happen.
*Translated by Mark Ament
