Rabat – Morocco’s Agency for Investment and Export Development (AMDIE) is organizing a road show from November 26 to December 1 to promote its “Morocco Now” investment and export brand in New Delhi, Mumbai, and Bangalore, India.
Organized in partnership with the Embassy of Morocco in India as part of the promotion of the Morocco platform, the road show aims to identify Indian investment opportunities in Morocco, AMDIE said in a statement.
Several meetings with Indian investors and operators, as well as high-level meetings between the Moroccan delegation and Indian institutions are expected to take place to further promote Morocco as an investment hub in the African continent.
“Morocco and India have very strong industrial potential. Indeed, thanks to its 54 free trade agreements, Morocco offers direct access to the African, European, American and British markets with a great capacity for responsiveness, particularly with Europe,” explained the Director General of AMDIE, Youssef El Bari, quoted by the press release.
He also recalled Morocco’s efforts to consolidate collaboration and cooperation opportunities with India.
During the meetings, the Moroccan delegation will introduce Indian representatives to Morocco’s new investment and export brand “Morocco Now,” which aims to attract more investors from the South Asian country.
Indian representatives who are currently active in Morocco testified to the attractiveness and competitiveness of Morocco’s industrial platform. These included Varroc Lighting Systems, Steel Strip Wheels, Mahindra & Mahindra (M&M), Tata Hispano Motors Carrocera, Indian Motors, and Sun Pharmaceuticals Morocco.
India and Morocco’s ties have been getting more and more close-knit over the years. In addition to investment, trade is also a lever for the development of cooperation between the two countries as it has jumped to 40% in 2018 compared to the previous year, amounting to approximately $2 million in 2019 and 2020.
The Asian country became one of the major markets for Moroccan phosphate exports. Morocco also imports various products from India, such as spices and various types of equipment, with the bilateral trade between the two nations reaching $1 billion by the beginning of the 2010s.
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