Brazil sees 666 product export opportunities to EFTA, says Apex

The EFTA countries, the European bloc that signed a free trade agreement with Mercosur last week, have strong potential to gain space in Brazil’s export agenda.

Of the ten main groups of products sold by Brazil to EFTA over the past five years, nine showed growth, according to an unprecedented study by Apex Brasil (Brazilian Trade and Investment Promotion Agency).

The opportunity map drawn by the agency identifies 666 possibilities for expanding sales.

The main highlights on the export list are: gold, machinery and transport equipment (such as trucks and tractors), food products (such as coffee, grapes, and beef), footwear, furniture, and sculptures.

EFTA is made up of Switzerland, Norway, Iceland, and Liechtenstein — nations that are not part of the European Union. The group brings together nearly 15 million inhabitants, is the 14th largest importing market in the world, and has one of the highest per capita incomes (US$ 98,000 per year).

“We will expand the access of our companies to strategic markets, which are highly demanding and have significant purchasing power,” said the president of Apex Brasil, Jorge Viana.

After 14 rounds of negotiations, Mercosur and EFTA signed a comprehensive agreement covering 99% of Brazilian exports, which still requires legislative ratification to take effect.

The treaty also includes services, investment, intellectual property, government procurement, rules of origin, trade defense, sanitary and phytosanitary measures, and technical barriers to trade.

According to the Central Bank, EFTA members hold an investment stock of US$ 65 billion in Brazil, with an average annual growth of 4.9% over the past decade. If considered as a single source, it would be the fifth-largest foreign investor in the country.

The investments include projects by multinationals such as Nestlé, C&A, Equinor, Lindt, Hydro Rein, and Statkraft.

Source: CNN

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