Brazil is one of the largest exporters of agricultural produce to the EU, from its optimal grass-fed beef to citrus juice concentrate, cane sugar to a wide variety of other commodities. The volume of European exports towards Brazil, however, are still at astonishingly low levels, and a lot needs to be done to promote food, fashion and Made in Italy. These three “prime” sectors account for just 4%. 3% and 6% respectively of the total exports sent to the South American country.
New opportunities are on the horizon, and this huge emerging market is calling on Europe’s small and medium sized enterprises that are in turn looking to Brazil as an outlet for its quality products. At this stage, the most potential comes from the food and agriculture sector.
The vice president of the European Commisssion Antonio Tajani has visited Brasilia to set up a meeting between high EU and Brazilian officials to discuss this in 2014. After a stall in negotiations for a free trade agreement between Europe and the block of Mercosur countries in Latin America, the possibility of a separate deal between Brussels and Brazil has become an increasingly viable alternative.