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Rabat – Russia’s exports to Morocco doubled in the first six months of 2022, according to a statement from Artyom Tsingamzgvrishvili, Russia’s Trade Representative to Morocco.
Speaking to Russia’s national news agency (TASS) on Friday, Tsingamzgvrishvili underscored that Morocco remained Russia’s third-largest trading partner on the African continent, following Egypt and Algeria.
“Russia has continued boosting supplies of its products to Morocco in 2022, which was highlighted by 1H results,” the Russian official told TASS.
“Exports to the kingdom doubled year-on-year to over $950 million, due to which bilateral trade also almost doubled, practically reaching $1.2 billion. According to our projections, the positive trend will persist by the end of the year as well,” he explained.
The Russian official went on to add, “Currently Morocco is still Russia’s third-largest trade partner in Africa after Egypt and Algeria.”
While trade between Morocco and Russia is experiencing substantial growth on an annual basis, Russia’s export agency announced last month that it further seeks to boost its agro-food exports to Morocco by 10 folds compared to 2021.
Citing the Russian Federal Agency for the promotion of exports “AgroExport,” a department within the Ministry of Agriculture, many Russian media reports recently indicated that Moscow is looking to increase agricultural exports to Morocco by tenfold, compared to 2021.
Russia exported a total of 127,600 tonnes of agricultural products to Morocco in 2021, converging media reports quoted the Russian agency as specifying.
The volume of agricultural goods Russia exports to Morocco was worth $49 million in 2021, only 0.1% of the total volume of Russian annual agricultural exports, said the reports.
Should the Russian Federal Agency’s trade ambition with Morocco materialize, Russia’s agriculture exports to the North African country could reach $500 million annually.
Read Also: Russia Aims For Massive Tenfold Boost in Exports to Morocco
