From the exchange between the Argentine and Senegalese leaders, the conclusion emerged that there are concrete opportunities to increase Argentine exports in the sectors of water and sanitation, biotechnology, plant and animal genetics, veterinary medicine, the food industry, agricultural machinery and forage production, among others. . To move forward with these efforts, a business forum will be held in Darkar with a large Argentine delegation.
“Senegal could become a key player for Argentine companies to export their products to West Africa,” Foreign Ministry sources told Ámbito. In that sense they detailed: “Senegal belongs to the Economic Community of West Africa (ECOWAS) and the port of Dakar is part of a logistics corridor that enables access to a market of more than 1,300 million consumers.”
Bilateral trade data is encouraging. Our country registered a 99% increase in exports between 2020 and 2021. Then, between January and June 2022, US$152 million were exported, which represents an increase of 106% compared to the same period of the previous year. In addition, the Senegalese economy is going through a period of growth that has recorded annual GDP increases of around 6% since 2012, which makes it dependent on imports to supply the increased internal demand.
For its part, the African country aims to consolidate its status as a distribution center for the entire region by creating special economic zones. Some projects underway are the Diamnadio development pole, two new port terminals, the new Airport, the Regional Express Train and a network of highways. Senegal relies on the support of international financial organizations such as the African Development Bank and the IMF to carry out these initiatives.
“Moment of Opportunities”
The chaos in supply chains created by Covid-19 and the war between Russia and Ukraine has thrown global economies into disarray but has also brought opportunities for those suppliers that can show themselves to be reliable. The new international scene surprises even the Argentine SMEs that participate in international fairs and return with extensive lists of potential clients.
Last week, the most important auto parts fair in the world, Automechanika, was held in Frankfurt. Among other Argentine firms, Taller Baigorria participated, a company that belongs to the metalworking sector installed in the district of Tres de Febrero. “Everyone who came to the stand gave us the intention to buy. Even a client from the United States anticipated us that he will send a purchase order quadrupling the volume. The participation was very auspicious”, Rita Cosentino, president of the company told Ámbito.
Along the same lines, he said that most of his clients reduced their suppliers and now they will only buy from “reliable” ones. In metalworking, European prices rose more than 60% in the last year, this opens the door for Argentine firms to enter into competition with their prices to advance in new businesses. “We are going with sales to Germany, Belarus, Spain and Poland, it is a time of opportunity”, concluded the head of Taller Baigorria.
Source: Ambito
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