French businesses in Brazil are looking to benefit from the newly inked EU-Mercosur deal, which Brazil's president and the EU chief hailed as a victory for multilateralism at a time of global volatility.

São Paulo

French entrepreneurs operating in Brazil are optimistic about the potential impact of the EU-Mercosur trade deal, which is expected to significantly reduce customs duties and taxes on imported goods. Philippe Ormanse, a wine importer, highlighted that the agreement could lower customs charges on a €100,000 container from €100,000 to €25,000, attracting more French wine producers to the Brazilian market.

The agreement is anticipated to benefit not only the wine industry but also the approximately 1,500 French companies and subsidiaries in Brazil. French firms, including those in railway machinery, expect to become more competitive against Chinese rivals and aim to expand their market share across Latin America, where the five Mercosur countries represent the world's sixth largest economy.

French firms in Brazil eye gains from EU-Mercosur trade deal

In Sao Paulo, Brazil's economic capital, some French entrepreneurs are already rubbing their hands with glee. For nearly 20 years, Philippe Ormanse has been importing wines to Brazil from 120 small French producers. These Languedoc wines are doing very well. A bottle bought for two euros currently sells for double that price. Even before the agreement's signing, Philippe has already received around 40 calls from new wine growers, lured by the future reduction in customs tariffs. It's a game changer. It's huge. It means instead of paying 100,000 euros in customs, duties and taxes on a container worth 100,000 euros, I'll only pay 25,000. This importer is convinced that even beyond the wine industry, the agreement will benefit the 1,500 or so French companies and subsidiaries operating in Brazil. Trump's policy over the past year with additional duties and tariffs means that French industry and French companies will inevitably have to look to other markets. That's where you have an opportunity. France is currently the second largest foreign investor in Brazil, but only its 14th biggest trading partner, a paradox that the trade agreement could correct. This machine for example costs 10,000 in France, but a Brazilian customer will pay 18 to 25,000 for it here. Although this railway machinery specialist manages to sell French quality in Brazil, he's struggling to compete with Chinese competition in the rest of the continent. The Chinese have very aggressive prices, even if the quality is not always up to par. We welcome this agreement, which will allow us to pay less tax, be more competitive and regain some of the market share that is currently in Chinese hands. The company's goal is to conquer the rest of Latin America. With 270 million inhabitants, the five Mercosur countries represent the sixth largest economy in the world.

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