Morocco’s investments are already a growing market in the UK.
Rabat – UK Minister of State for International Trade Conor Burns is full of praise for the cooperation between London and Rabat.
The official introduced Morocco as a major partner in the African market at a trade and investment meeting on the sidelines of the UK-Africa Investment Summit.
The minister, who paid a visit to Morocco earlier this month, said that it is always a “great pleasure” for him to visit the North African country.
Burns visited the country twice in less than four months.
“It shows how much we value Morocco as a partner, and the potential there is for a stronger, deeper, mutually-beneficial trading relationship.”
The UK government shared Burns’s speech lauding Morocco’s enthusiasm at the African Investment Summit.
The British official expressed satisfaction with the business cooperation between the two countries, emphasizing the need to further boost collaboration.
Boost cooperation
“I want British companies to think about Morocco when they are developing their export plans. I want Moroccan companies to think about the UK when they are looking for new partners and expertise,” he said.
Morocco is already a leading market in the UK, with promising business prospects.
The UK Trade minister shared statistics about trade between the two countries, saying that 25% of the tomatoes consumed in the UK come from Morocco.
In addition to tomatoes, 20% of soft fruits and 60% of sardines sold in the UK are from Morocco.
“There are a huge number of Moroccan firms with ambitious plans for the future,” he said.
According to the UK government bilateral trade between the UK and Morocco totalled £2.2 billion (around $2.9 billion) in 2018.
Britain is satisfied with its landmark businesses in Morocco, including the Sound Energy.
The British minister stated that the UK company Sound Energy has signed an agreement with Morocco to be the first-ever gas supplier in the North African country.
“Europa Oil & Gas signed a deal with ONHYM to start offshore exploration. We are also seeing some great strides forward in the banking and finance sector,” Burns said.
Commenting on business opportunities to boost trade, the official said there is a lot of“potential for UK and Morocco to work as partners to develop investment across Africa.”
“Let us embrace the opportunities before us and build our relationships, strengthen our ties, and increase the future prosperity of people in Morocco and the UK,” he concluded.
