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Agadir – Morocco and Ecuador took on Tuesday a step forward in strengthening their economic partnership, signing a memorandum of understanding aimed at enhancing trade and investment cooperation between the two countries.
The agreement followed talks in Rabat between Morocco’s Minister of Industry and Trade, Ryad Mezzour, and Ecuador’s Minister of Foreign Trade and Investment, Luis Alberto Jaramello. Ecuador’s ambassador to Morocco, Diego Morjón-Pazmenho, also attended the meeting.
The agreement focuses on promoting mutual investments, facilitating trade exchanges, and encouraging closer collaboration between economic operators in both countries.
According to the ministry, both sides emphasized that the agreement is expected to contribute to job creation and stimulate economic dynamism by fostering a more integrated partnership. They also underlined the importance of building on existing complementarities to support sustainable growth.
“This economic partnership agreement with Ecuador aimed at strengthening trade relations and boosting mutual investments between the two countries. The goal is also to reinforce cooperation with Ecuador so that it can support Morocco’s openness in the African continent,” Mezzour said.
Ecuador’s Minister Jaramello echoed his Moroccan counterpart’s upbeat sentiment. This cooperation agreement “represents an important step toward achieving a free trade agreement as well as a bilateral investment treaty between our countries,” he argued.
“We see great importance and many opportunities in this bilateral relationship, particularly in encouraging trade on both sides and also in the opportunity to distribute products throughout the region, in this case North Africa. In Morocco, we have found an allied country and a very interesting trade partner with whom we expect to achieve very significant results.”
