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Agadir – Morocco and South Korea are extending their economic relations and investment cooperation, as both countries agreed to explore the early launch of negotiations for a Comprehensive Economic Partnership Agreement (CEPA).
The move came during a virtual meeting between Omar Hejira, Morocco’s Secretary of State for Foreign Trade, and Yeo Han-Koo, South Korea’s Minister of Trade, Industry, and Resources.
According to Seoul’s Ministry of Trade, Industry, and Resources, the two sides discussed ways to expand economic cooperation and agreed on the importance of initiating CEPA negotiations in the near future.
The South Korean side underlined that a Morocco-South Korea CEPA would serve as a catalyst for bilateral economic cooperation, while also enabling Korean companies to diversify their markets and expand their global business footprint, as reported by Yonhap News Agency.
Meanwhile, Hejira welcomed the upcoming visit of the Korean minister to Morocco in June.
He stated that strengthening ties with South Korea aligns with Morocco’s broader strategy to diversify its international partnerships, particularly with Asian economies.
Hejira emphasized that this approach reflects the strategic vision of King Mohammed VI, which aims to consolidate Morocco’s openness to global markets and reinforce its position as a reliable economic partner.
He noted that future cooperation is expected to focus on balanced and mutually beneficial partnerships that support sustainable development.
According to Hejira, deepening relations with South Korea could reveal new opportunities in industrial investment, enhance technology transfer, and foster the exchange of expertise between the two countries.
“The consolidation of these relations with the Republic of Korea would open promising prospects for the development of joint industrial investments, which would contribute to the establishment of productive partnerships with high added value, and enhance the transfer of technology and the exchange of experiences,” he said.
It would also support joint efforts to access emerging markets, leveraging Morocco’s geographic position as a gateway to Africa, Europe, and the Americas.
The potential CEPA is also expected to strengthen integration into global value chains, improving competitiveness and creating high value-added industrial collaborations between Moroccan and South Korean companies.
“It will also make it possible to unite efforts to access promising markets, while taking advantage of Morocco’s strategic location as a gateway to Africa, Europe, and the Americas, within the framework of more competitive and integrated global value chains,” Hejira concluded.
