MEB Trade Mission to Brazil: Economic Ties Given a Boost

Seizing the opportunity presented by HSH Prince Albert II’s trip to Sao Paulo as part of the Monaco Blue Initiative, the Monaco Economic Board (MEB) and its department Monaco Chamber of Commerce returned from its Trade Mission to Brazil’s business capital after a very successful visit. Briefings, contacts made and opportunities uncovered augur well for further development of relationships between the two countries.  

Led by MEB Chairman Michel Dotta, the 40-strong Monegasque delegation represented some 25 companies and was joined by the DTC, which has an office in São Paulo, and the Yacht Club de Monaco, twinned with the São Paulo Yacht Club that hosted the delegation on 5 April.

Opportunities had already been identified in tourism, yachting, real estate, architecture & design, financial engineering, insurance, ICT (information and communication technologies), international trade, logistics and the environment, all sectors which were well represented by the delegation.

In addition to invaluable sessions with experts on Brazilian culture and the business environment, the big day was 4 April when the Monaco Chamber of Commerce organised bilateral meetings and B2B rendezvous between Brazilian and Monegasque entrepreneurs in the premises of partner Fecomercio.

The same day Monaco Chamber of Commerce Chairman Michel Dotta and Fecomercio President Abram Szajman signed a Memorandum of Cooperation in the presence of HSH the Sovereign Prince to further develop exchanges between MEB member companies and the 1.8 million businesses affiliated to Fecomercio.

For MEB Chairman Michel Dotta: “This destination has long been asked for by our members and proved particularly rewarding. Despite difficult economic conditions, the fundamentals are sound and there are opportunities to be taken up. Entrepreneurs from the Principality were not mistaken and could reinforce their presence in this emerging economy.”

After a series of events spanning three years in Asia, this trip marked the launch of MEB’s focus on Latin America. Brazil was a deliberate choice as not only does Monaco have a sizeable Brazilian community, but the cultural proximity between the two cultures is actively maintained by the Brazilian Consul in Monaco André de Montigny and Monaco’s Consul in Brazil Arnoldo Wald Filho.

On the business front, the MEB had already signed a cooperation agreement on 16 March with AMBI (Association Monaco-Brazil Invest) which has branches in both countries and was on this trip to promote bilateral investment. Finally, Monaco companies with interests in Brazil, such as Monaco Asset Management, MEB member and partner to this mission, made their contribution to further develop business relations with Brazil.