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Unlocking Madagascar’s potential: Access to Europe’s 600 million consumers

Pages: 34
Published: February 23, 2024
Report Code: GDTECB0001


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This report comprehensively explores the opportunities and challenges Madagascar faces in tapping into the European market. With over 600 million potential consumers, the European market holds great economic potential for Madagascar.
The report covers a wide range of topics, including the economic landscape of the region, untapped consumer demographics, export opportunities in agriculture and industry, and the role of the service sector. It also highlights Madagascar’s strengths in key industries, such as agriculture, textiles, ecotourism, and gemstones, while addressing significant trade barriers.
Moreover, the report offers strategic insights to boost Madagascar’s potential, focusing on regional economic expansion, sustainability, digital opportunities, and market understanding. It features exemplary economic stories from other countries as case studies.
In addition, recommendations are provided for Malagasy enterprises looking to enter the European market successfully. The report also includes practical information on the export process, administrative and tax obligations and the necessary documentation.
This report is a valuable resource for Madagascar’s businesses and policymakers, aiming to unlock the country’s economic potential by accessing the European market.

Context and Objectives:

- Economic landscape: A regional overview
- Untapped potential: Exploring consumer demographics in target countries
- Agricultural and industrial export opportunities
- Service sector: A key driver for integration
- Madagascar’s strengths: Four key products and industries
  - Agricultural products
  - Textiles and crafts
  - Ecotourism and biodiversity-related products
  - Precious and semi-precious gemstones
- Challenges: Major trade barriers to address
- Enhancing competitiveness: Key considerations to boost Madagascar’s potential
  1. Regional economic expansion
  2. Growing demand for sustainable products
  3. Digital opportunities
  4. Cultural adaptation and market understanding
- Strategies for penetrating international markets
- Three exemplary economic stories
  - India: A thriving export model to follow
  - Australia: Noteworthy commercial openness as a strategy
  - Indonesia: The winning bet of partnerships
- Business Advice: Recommendations for Malagasy enterprises
- Understanding the export process from Madagascar to global markets
- Administrative and tax obligations for exporting activities
- Administrative documents and supporting documents for exporting products from Madagascar to foreign countries
- References to consult
- Conclusion
- Bibliography

List of figures

  - Figure 1: GDP per capita of target countries, from 2011 to 2021
  - Figure 2: GNI per capita and unemployment rate, 2021
  - Figure 3: HDI, adjusted gross savings, and consumer confidence index of target countries (2021)
  - Figure 4: Most imported products by target countries in 2022
  - Figure 5: Market share of activity sectors in target countries in 2021 (% of GDP)

List of tables

  - Table 1: Advantages and disadvantages of market access strategies


What are the drivers of Madagascar's recent economic growth?

Madagascar's economic growth is driven by its strengths in agricultural products, handicrafts, ecotourism and gemstones, as well as efforts to diversify the economy and improve the business environment.

2. What are the key sectors in Madagascar with investment potential?

Madagascar offers investment opportunities in diverse sectors, including agriculture (e.g., vanilla, cloves, coffee), crafts (textiles, wood carving), ecotourism, gemstones (e.g., rubies, sapphires), and emerging industries such as electronics and mineral fuels.

3. Are there incentives for foreign investors in Madagascar?

Madagascar provides incentives like tax breaks and investment guarantees to attract foreign investors, encouraging collaborations with local businesses and promoting economic growth.

4. What challenges do investors face in Madagascar?

Challenges include regulatory hurdles, infrastructure limitations, and political instability. However, the government is actively working to improve the ease of doing business and address these challenges to attract foreign investment.

5. How can I assess the potential return on investment (ROI) in Madagascar's export-oriented industries?

To evaluate ROI, investors should conduct a thorough market analysis, understand local market dynamics, assess competitive factors, and consider the uniqueness of Malagasy products.

6. Can you provide examples of successful investment projects in Madagascar?

Successful investments in Madagascar have included ventures in agriculture (vanilla, coffee), mining, tourism, and renewable energy.

7. What legal and regulatory considerations should investors know in Madagascar?

To ensure compliance, investors should be familiar with Madagascar's legal and regulatory framework, which includes business registration, property rights, and investment-specific laws.


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