India-Morocco Trade Reaches $4.2 Billion, Ambassador Highlights Bright Future
India-Morocco trade has surged to $4.2 billion, with growing cooperation in defense and business, says Moroccan Ambassador.
New Delhi, October 29 (Daily Kiran) : India and Morocco have seen a significant increase in their trade relations, with the current figure reaching $4.2 billion, according to Moroccan Ambassador Mohamed Maliki. He noted that trade between the two nations was only between $1 to $1.2 billion in 2015. The number of Indian companies operating in Morocco has also grown from 13 to 47.
In a recent discussion, Ambassador Maliki expressed optimism about the future of bilateral relations. He emphasized that discussing the future is intertwined with recognizing past achievements. The relationship has evolved positively, particularly following King Mohammed VI’s visit to India. This visit marked a pivotal moment in promoting close cooperation between the two countries, laying a solid foundation for future collaboration.
Ambassador Maliki pointed out that Morocco is emerging as a significant economic hub in Africa, complementing India’s rise as a major economic power. He highlighted Morocco’s leadership in the automotive sector in Africa and the Arab world, as well as its growing focus on the defense industry. These sectors present new opportunities for collaboration and investment between India and Morocco.
Despite current tensions in the Middle East that could slow trade activities, Ambassador Maliki believes there is still substantial potential for growth. He noted that trade in various goods, including automotive parts, pharmaceuticals, and agricultural products, continues to expand.
The ambassador also discussed Morocco’s strategic geographical position as a gateway to Europe and Africa. He explained that cities like Casablanca are well-positioned to connect with major cities in North America. Currently, around 47 Indian companies are directly investing in Morocco, with over 200 additional companies having an indirect presence.
Ambassador Maliki acknowledged the challenges posed by the ongoing regional tensions but reiterated the importance of maintaining open lines of communication and dialogue. He stressed that solutions to such crises should be sought through negotiations rather than military means. India, with its strong ties across the Global South and a significant expatriate community in the Middle East, can play a crucial role in fostering dialogue and stability in the region.
Overall, the future of India-Morocco relations looks promising, with both nations committed to enhancing their partnership across various sectors.
