Morocco looking to bring Brazilian companies to Casablanca

28 de outubro de 2016

São Paulo – Brazilian companies can find out about opportunities to operate in Morocco during the event Casablanca Finance City: Your Base Camp for Africa, next Tuesday (1) in São Paulo. The event is organized by Casablanca Finance City Authority in partnership with the Arab Brazilian Chamber of Commerce. Casablanca Finance City (CFC) is a Moroccan business and financial hub which is aiming to draw in Brazilian companies through this event.

“Casablanca Finance City is a leading Pan-African business and financial hub. Casablanca is a true regional exchange platform between Africa and the rest of the world, as shown by its latest ranking on the Global Financial Centres Index. It occupies the first position today in the continent and the 30th globally. In this context, CFC gives international investors and businesses a stable and reliable access point to key African markets whilst providing them with several advantages in doing business, tax incentives, a dynamic ecosystem, and so on,” CFC Business Development head Najwa El Iraki told ANBA by email. The index she mentioned names Casablanca as the premier financial hub in Africa. El Iraki will deliver a lecture during the meeting in São Paulo.

According to El Iraki, the hub in Morocco currently comprises over 100 companies in industries including infrastructure, information and communications technology, energy, consulting and financial services. “Members of CFC include among others Ford, Nestlé, Jacobs (engineering), AIG (insurance) Bank of China, Baker & Mckenzie (law) and Wendel (asset management),” she said.

The companies in CFC are from countries in Europe, America, Africa, Asia and the Middle East. According to El Iraki, no Brazilian businesses are there yet, “but discussions are ongoing with some.”

“Due to the close social, political and economic ties linking Brazil and Morocco, and due to the strategic alignment of both countries with regards to Africa, we believe that CFC could be an optimal platform for Brazilian companies looking to access fast-growing African countries, including Brazil’s key markets in North, West and Central Africa,” El Iraki argued.

According to her, companies operating from the CFC fall under four different categories: financial institutions, regional headquarters of multinational corporations, investment holding companies and professional service providers.

Arab Chamber CEO Michel Alaby believes “it is important for Morocco to be on the radar of Brazilian companies, because it can be a gateway to other markets.”

Alaby adds that Morocco sustains trade agreements with several blocs and countries, including the European Union, Iceland, Norway, Liechtenstein, Switzerland, Algeria, Bahrain, Egypt, Iraq, Kuwait, Jordan, Lebanon, Libya, Oman, Palestine, Qatar, Saudi Arabia, Tunisia and the United Arab Emirates.

Besides holding the event in São Paulo, CFC staff will also attend meetings with executives in Rio de Janeiro and Foz do Iguaçu.

Quick facts:
Meeting "Casablanca Finance City: Your Base Camp for Africa"
November 1, 10:30 am to 12 pm
Where: Arab Brazilian Chamber of Commerce
Avenida Paulista, 326, 11th floor – São Paulo
Register here:
Free admission
For questions please call or write: 55 11 3147-4131 or, C/O Steffani Novais

*Translated by Gabriel Pomerancblum