Trade: Brazil eyes bigger share on Asian markets

If Vietnam, Thailand, or Cambodia are potential markets for your products, this initiative could be valuable for your company. Between March 19 and 27, the Brazilian Agency for the Promotion of Exports and Investments (ApexBrasil) will conduct a trade mission to these countries in partnership with the Ministry of Development, Industry, Trade, and Services (MDIC), the Ministry of Agriculture and Livestock (MAPA), and the Ministry of Foreign Affairs (MRE).

The initiative is open to companies from various sectors with the potential to expand or initiate exports across various segments, including footwear, pharmaceuticals, textiles, agriculture, livestock, supplies, inputs, services, and others.

Rising Exports

Opportunities in the Asian markets have been on the rise, given the region’s economic performance above the global average. According to data from the Economist Intelligence Unit, the GDP of Thailand, Vietnam, and Cambodia is expected to multiply until 2028, at an annual average of 3.5%, 6%, and 6.5%, respectively. Imports will likely follow this trend, and Brazilian exporters should be prepared to meet this demand.

In 2023, Brazilian exports to ASEAN, the bloc encompassing the three countries selected for the mission, surpassed sales to Mercosur. Between 2019 and 2023, the value exported to Vietnam, Thailand, and Cambodia increased by over 90%, reaching USD 7.1 billion.

Brazilian exports to Vietnam alone reached USD 3.7 billion. The country, Brazil’s 26th main export destination in 2022, entered the top 20, ranking 18th. Agricultural and livestock products, such as corn, soybeans, soybean meal, cotton, and meats, are prominent in the trade, but opportunities exist for various sectors.

Exports to Thailand reached USD 3.3 billion in 2023, making it Brazil’s 23rd main destination. The primary products sold to Thailand include soybeans, soybean meal, leather, and sugar. A prospective study by ApexBrasil’s Market Intelligence also identified opportunities in the food and beverage sectors, such as beans, juices, açaí, cheeses, honey, and cachaça.

Exports to Cambodia amounted to USD 36.7 million in 2023, following a robust 17% growth from the previous year. Unlike the exports to neighboring countries, which are heavily concentrated in grains, exports to Cambodia consist mainly of poultry (37%), copper (14%), and wood (19%).

Source: Amazonas 1

Click here to read the original text: https://amazonas1.com.br/brasil-quer-ampliar-exportacoes-para-mercados-asiaticos/

Sharing is caring!