News Desk |
Ambassador of Morocco to Pakistan Muhammad Karmon has said that Pakistan is a very important country with huge economic potential and an exceedingly bright future.
Focus on Improving Trade Ties
Morocco wants to increase trade relations with Pakistan as the two countries have good potential to promote bilateral trade in different areas, he said.
Talking to Dr Murtaza Mughal, President Pakistan Economy Watch, he said that “Pakistani businessmen should explore opportunities in Morocco as we import crude petroleum, textile fabric, telecommunications equipment, wheat, gas, electricity, transistors, and plastics.”
Industrial development strategies and infrastructure improvements – most visibly illustrated by a new port and free trade zone near Tangier – are improving Morocco’s competitiveness.
He informed that his country export clothing and textiles, electric components, inorganic chemicals, transistors, crude minerals, fertilizers, petroleum products, citrus fruits, vegetables, fish, and vehicles.
Tourism and Hospitality Industry
Morocco attracts over 10 million tourists per annum which has developed the local hospitality industry that can help Pakistan develop this important sector, the ambassador offered.
The ambassador said that the exchange of trade delegations was an effective tool to identify trade potential and exportable products between the two countries for which links should be developed.
Morocco has capitalized on its proximity to Europe and relatively low labor costs to work towards building a diverse, open, market-oriented economy. Key sectors of the economy include agriculture, tourism, aerospace, automotive, phosphates, textiles, apparel, and subcomponents.
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Morocco has increased investment in its port, transportation, and industrial infrastructure to position itself as a center and broker for business throughout Africa. Industrial development strategies and infrastructure improvements – most visibly illustrated by a new port and free trade zone near Tangier – are improving Morocco’s competitiveness.