Moroccan exports to Brazil increased by 79%

Moroccan exports to Brazil increased by 79% from January through May 2005, reaching US$ 123.9 million, said Secretary General of the Arab-Brazilian Chamber of Commerce (CCAB), Michel Alaby.

Quoting Alaby, the Brazil-Arab news agency (ANBA) said King Mohammed VI's visit to Brazil last November boosted Moroccan exports to Brazil during the first five months of 2005. Morocco exported mainly petrochemical products, phosphate and derivatives, said the same source, adding that the bilateral trade balance "remains in favour of Brazil." In 2004, Brazil exported to Morocco products worth US$ 348.9 million (notably sugar), while its imports increased to US$ 241 million.