Written by 9:26 am Economy

Growth potential of trade relations between Morocco, UK highlighted in London

Spread the love



The growth potential of the centuries-old trade relations between the United Kingdom and Morocco was highlighted in London on Monday.

The opportunities offered by the two kingdoms were the subject of a report by the British Institute for Free Trade, presented in the British House of Lords in the presence of a host of politicians in charge of investment, business leaders, and diplomats, including Morocco’s ambassador to the United Kingdom, Hakim Hajoui.

Morocco and the United Kingdom are two countries with the same economic principles and complementary commercial interests,” the British Minister of State for Investment, Lord Dominic Johnson, said at the opening of the event.

Morocco is North Africa’s leading economy in terms of investment potential, particularly in the agricultural and renewable energy sectors, he stressed, expressing his willingness to work towards improving the centuries-old partnership between the two kingdoms.

For his part, the President of the Institute, Daniel Hannan, described as “extraordinary” how Morocco has skilfully transformed itself into a modern and integrated global economy, referring in particular to the development of the country’s infrastructure, which he was able to see for himself during the preparation of this report.

Near Tangiers, the Kingdom has built an ultra-modern port, the largest not only in Africa but also in the Mediterranean, said the member of the House of Lords, noting that the Casablanca region is home to an aeronautical hub that now supplies most of Europe.

The Institute has put forward a series of recommendations aimed at improving trade between the UK and Morocco, focusing on measures that can be taken immediately, without the need for full negotiations on the association agreement, he detailed in a statement to MAP.

For his part, the UK’s special trade envoy for Morocco, Rob Butler, said he was “very excited” about the prospect of increasing trade between Morocco and the UK, assuring that it is already “very significant” and that the two nations share “extremely strong” relations.

The association agreement that London and Rabat have already concluded is “an excellent starting point,” he added in a similar statement, assuring however that the two countries “can do much more together.”

There is a “real momentum between the two governments and businesses, and we look forward to seizing these opportunities in the months ahead,” he said.

The Chair of the UK All-Party Parliamentary Group (APPG) dedicated to Morocco, Heather Wheeler, praised the dynamic parliamentary exchanges that have characterized the last two years, pointing out that she had visited Dakhla, where a major port project is under construction, which will certainly boost trade between the two countries.

“What is so important in our relations with Morocco today is openness to business,” she continued.

The report’s author, Shanker Singham, pointed out that “Morocco is not only a super logistics hub, but also a very important investment destination, particularly for the electro-voltaic, hydrogen and automotive sectors.”

With its unique geo-strategic position, Morocco is an essential crossroads, offering the possibility of diversifying trade routes and reducing over-dependence on other routes that are prey to geopolitical risks, he explained, while advocating an improved association agreement between the UK and Morocco.

Visited 1 times, 1 visit(s) today

Spread the love
Étiquettes : , , , , , , Last modified: février 28, 2024
Close Search Window
Close