Written by 11:51 am Economy

UK PM appoints trade envoy to Morocco to strengthen economic ties

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In a bid to bolster economic relations and enhance collaboration, British Prime Minister Rishi Sunak appointed on Wednesday Conservative MP Rob Butler as the trade envoy to Morocco. 

This appointment falls under the “Prime Minister’s Trade Envoys” program, initiated in 2012, which strategically assigns parliamentarians to various countries worldwide. 

The appointments aim to support London’s economic ties and assist British companies in leveraging opportunities in emerging markets, promoting Britain as a preferred investment destination.

The envoy program, consisting of 38 parliamentarians covering around 68 countries, seeks to facilitate dialogue and cooperation on economic fronts. 

Rob Butler’s appointment to Morocco aligns with the recent surge in bilateral trade between the two Morocco and UK, reaching over USD 4.2 billion in the first half of the current year. This marked an increase of more than USD 830 million compared to the same period last year, as reported by the UK Treasury.

Economic analyst Badr Lazrek tells Hespress Ar that growing economic ties between Morocco and the UK are part of a broader global strategy post-Brexit. The UK aims to establish direct economic and trade relations with various countries, with Morocco being a significant partner. 

This departure from previous arrangements, tied to European standards, reflects the UK’s commitment to diversifying its economic partnerships.

Morocco, in turn, is transforming its infrastructure to become a logistics and port hub, making it an attractive investment destination. 

The UK recognizes Morocco’s potential, not only locally but also as a gateway to the African continent. This was reinforced by the signing of the trade partnership agreement, effective in 2021, as part of Morocco’s efforts to reshape its economic alliances.

The UK’s move to appoint a trade envoy for Morocco signifies the importance both countries place on their economic ties. This decision comes at a time when global economic dynamics are undergoing significant changes, and both nations seek to capitalize on mutual benefits.

On his part, Economic analyst Idriss Al Issawi highlighted the significance of the UK’s decision, emphasizing the unprecedented levels of bilateral trade exceeding USD 4 billion in the first half of this year. 

Al Issawi said that the UK’s interest in Morocco goes beyond immediate economic gains, aligning with Morocco’s efforts to diversify its partnerships and break free from certain nations’ dominance in foreign trade.

The expert further explained that this expansion of partnership would open immense opportunities for British companies to engage in significant investments and projects in Morocco. 

Sectors such as automobile and aviation industries, along with major infrastructure projects like stadium construction, roads, and railways, offer a promising landscape for the British capital.

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