The Republic of Madagascar is the fifth largest island in the world after Australia, Greenland, New Guinea and Borneo. Madagascar covers an area of 587,040 sqkm. The population of the country is composed of nearly 26.3 million people, for a GDP of US$ 12.1 billion (source: World Bank, 2018).
The Madagascan economy is mainly based on agriculture, mining, fishing and the textile industry. One of its most famous products is vanilla. China, the United States, the United Arab Emirates, India, Germany, South Africa, the Netherlands and France are the main economic and financial partners of the country.
France has a strong commercial position in Madagascar. Bilateral trade relations have increased by 70% over the last ten years, reaching nearly €1 billion (France is Madagascar’s 3rd supplier with 6.4% of its imports, 4th foreign investor with an estimated FDI stock of €712 million in 2014). French investments mostly target the financial sector, trade, services and extractive activities (source: IMF, DG Tresor, January 2019).
In order to meet the needs of its clients on the Madagascan market, Simon Associés has developed privileged relations with economic and legal partners locally.