Morocco Identifies MAD 12 Billion in Untapped Export Potential to Africa
Morocco is a leading economic and diplomatic model in the African continent.
Rabat – Morocco has identified MAD 12 billion (USD 1.18 billion) in untapped export prospects to African markets, according to Secretary of State for Foreign Trade Omar Hejira.
Speaking at the House of Representatives on Monday, Hejira cited research identifying 60 possible investment projects to boost Morocco’s export visibility throughout the continent.
Hejira urged Moroccan exporters, especially small and medium-sized businesses (SMEs), to capitalize on Africa’s vast market of 1.3 billion consumers.
In 2023, Morocco’s exports to Africa accounted for 7.6% of its total exports. Trade between Morocco and African countries increased from MAD 36.3 billion to MAD 52.7 billion, he explained.
Two-thirds of these exports comprise phosphates and derivatives, with fisheries products coming in at 36%, cars at 38%, textiles and apparel at 2%, leather goods at 36%, and electrical equipment at 19.5%.
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To support these efforts, Hejira announced plans for a trade fair for Moroccan export goods at the end of next year. The event will feature a dedicated section for African products with the goal of boosting trade complementarity between Morocco and African countries, in line with the Royal Vision.
Morocco’s return to the African Union (AU) in 2017 marked the starting point for actively pursuing a policy of South-South cooperation.
The country is working actively to strengthen economic and diplomatic ties with African nations through various initiatives and partnerships across the continent.
The North African country is also a leading model in diplomacy and its presence within the AU strengthens dialogue and cooperation within the organization.