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Join on Telegram Rabat – Moroccan Minister of Industry and Trade, Ryad Mezzour, asserted on Wednesday in Gandhinagar, India, that Morocco and India could closely collaborate through South-South and triangular cooperation.
Addressing the 10th edition of the biennial “Vibrant Gujarat” investors’ summit, Mezzour emphasized the potential of a strategic partnership between the two countries, highlighting the opportunity to develop joint initiatives covering the entire African continent.
These initiatives seek to advance the process of industrialization and economic development, while “ensuring food security and health safety,” Mezzour added.
Mezzour also commended Morocco’s exceptional resilience under King Mohammed VI’s leadership, citing the country’s remarkable performance across various sectors amid global supply shocks and crises.
Morocco tripled its Gross Domestic Product (GDP) over the past two decades and multiplied its industrial exports sixfold since 1999, with manufactured goods now constituting 86.7% of Moroccan exports, the minister said.
The roots of the burgeoning Morocco-India partnership can be traced back to King Mohammed VI’s historic visit to India in November 2015.
Since then, diplomatic ties between the two nations have flourished, encompassing politics, culture, and economics.
Trade statistics for the year 2021 highlight the substantial economic interplay between India and Morocco.
India exported goods worth $931 million to Morocco, with key products including Broadcasting Equipment, Cars, and Non-Retail Synthetic Filament Yarn.
The annualized rate of Indian exports to Morocco has surged at an impressive 13.1% over the last 26 years. In contrast, Morocco exported goods worth $2.1 billion to India, featuring prominent items such as Phosphoric Acid, Mixed Mineral or Chemical Fertilizers, and Calcium Phosphates.
The annualized rate of Moroccan exports to India stood at 7.7% over the same period.
However, this partnership transcends mere bilateral trade. Mezzour envisioned a Moroccan-Indian collaborative effort to “develop joint initiatives encompassing the entire African continent.”
Morocco’s strategic location, with access to over 100 countries and 2.3 billion consumers through free trade agreements, offers a gateway to unlock Africa’s vast potential.
The opening ceremony of the 10th edition of the three-day summit, themed “Gateway to the Future,” was presided over by Indian Prime Minister Narendra Modi, with the presence of Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, and Czech Prime Minister Petr Fiala.
Launched in 2003 by then Chief Minister Narendra Modi, the summit aims to promote investments, trade, innovation, and economic development in the state of Gujarat.
This year’s summit, hosting 34 partner countries, including Morocco, and delegations from over 130 countries, has attracted thousands of business leaders and investors.
Accompanying Minister Mezzour in the Moroccan delegation were Ambassador Mohamed Maliki, Chief of Staff to the Minister of Industry and Trade Amine Belhaj Soulami, Director of Communication and International Cooperation at the ministry Imane Benrabiaa, and the Director of Cooperation and Partnership at the Moroccan Agency for Investment and Export Development (AMDIE) Assia Bensaad.
