Tunisia and Madagascar Seek to Strengthen Economic Ties
Source: Tunisia-Madagascar Chamber of Commerce (CCTM)
Tunisia and Madagascar are looking to transform their modest trade exchanges into full-fledged economic partnerships. On Monday, March 10, in Antananarivo, a cooperation agreement was signed between the Tunisia-Madagascar Chamber of Commerce (CCTM) and the Economic Development Board of Madagascar (EDBM). This partnership aims to structure bilateral trade and encourage investments.
Current State of Trade
Despite rapid growth in recent years, trade between the two countries remains marginal. In 2024, Madagascar exported $2.39 million to Tunisia, a 150% increase on average since 2020, while its imports of Tunisian products, including electrical cables and food products, reached $12.09 million. These figures represent less than 0.3% of the two countries' external trade, leaving a largely untapped potential.
New Agreement
The new agreement provides for multiple initiatives:
- Organizing business meetings
- Promoting investment opportunities
- Facilitating industrial partnerships
According to officials from both institutions, the goal is to create a sustainable framework for balanced and more visible economic relations.
Areas of Cooperation
Tunisia brings its expertise in the industrial, electrical, agri-food, and digital sectors. Madagascar, on the other hand, offers opportunities in agro-industry, local processing, and exploitation of its natural resources. This complementarity could serve as a lever for cross-investments and joint projects, which have been limited until now.
Upcoming Economic Mission
The signing of the agreement comes just a few weeks before the Tunisian economic mission to Madagascar, scheduled from March 30 to April 4. Several Tunisian companies will participate to explore concrete collaborations with the Malagasy private sector. This mission is considered a potential catalyst for strengthening the South-South dynamic between the two nations.
Conclusion
In summary, the agreement is not just a simple exchange of signatures. It paves the way for more structured economic cooperation, where the complementarities and untapped potential of the two markets could become concrete opportunities for businesses in both countries.
