Marrakech- Clive Alderton, British Ambassador to Morocco and Mohammed Raihani, President of the British Chamber of Commerce in Rabat, signed a new partnership agreement between the British Chamber and UK Trade & Investment on Wednesday in Casablanca, according to a British Embassy press release obtained by Morocco World News.
This innovative partnership between the British Chamber of Commerce in Morocco and the British department of Trade and Investment- the government’s department that helps UK-based companies succeed globally, and assists overseas companies to bring investment to the UK- will provide a new platform to help UK small and medium sized companies do business in Morocco, putting in place a practical business-to-business support system for UK exporters.
Seed funding from UK Trade & Investment to British Chamber of Commerce in Morocco will provide additional capacity so that UK businesses have a greater range of services on offer to help them export.
The new partnership between government and business is part of a ground-breaking program called Overseas Business Networks Initiative, which is being rolled out by UK Trade & Investment in 41 fast-growing global markets – including Morocco – with the aim of boosting trade levels.
“The British Chamber in Morocco has been in the business of helping British and Moroccan companies do business together for over 90 years. UK/Morocco bilateral trade is in good shape. It passed the symbolic £1 billion mark in 2012, and British exports to Morocco grew by an impressive 39% in the first half of 2014, built on the solid pillars of Financial Services, Education and Energy,” the British Ambassador to Morocco, Clive Alderton said.
“Under this new partnership, the Chamber will focus strongly on the “matchmaking” between UK and Moroccan companies. This will galvanize business between our countries, leading to more jobs, growth and a prosperous future for us all,” he added.
As these organizations taking part in this global program improve their capability and capacity, they will be able to provide chargeable services to UK businesses, increase membership revenues and benefit from additional sponsorship opportunities.
This will lead to a change in the funding model whereby seed funding will be reduced and private sector revenues will increase. Chambers and business groups have a stake in the market, understand the needs of business, and develop support for the long-term.
As not-for-profit companies, Chambers and business groups are uniquely placed to deliver low-cost services and re-invest any profits into export support.
