Trade between the two countries witnessed a steady growth, the Italian ministry of foreign affairs said.
Rabat – Italy’s government is full of praise for the cooperation between Rome and Rabat. Italian foreign affairs ministry said that Morocco is a “strategic” country for Italy in the Mediterranean region.
The ministry extolled Morocco’s political stability, which he said offers favorable economic growth prospects Morocco’s Maghreb Arab Press (MAP) reported.
The Italian ministry believes that Morocco offers numerous investment opportunities for Italian companies.
Trade between Italy and Morocco experienced continuous growth in recent years, the ministry finds.
The period of January-August 2019 saw growing collaboration between the two countries, with Italy ranked fifth among Morocco’s trading partners.
Italy is the fifth supplier of Morocco with 5.3%. It is also the fifth customer of Moroccan products, absorbing 4.2% of Moroccan exports.
In the first half of last year, exports between the two countries remained unchanged compared to the same period in 2018 with a value of more than € 1.4 billion
Meanwhile, imports recorded a growth of 5.2% for a value of €786 million.
The main products exported from Italy to the North African country were petroleum products (15%), machinery (9.7%), fabrics (5.9%), and other machinery general goods (5.7 %).
Cars dominate Italian imports from Morocco with 34.2% of total imports, followed by fishery products (20.9%), parts and accessories for vehicles and engines ( 14.5%) and clothing (8.2%).