Morocco and EU sign new trade deal to boost exports

Morocco’s key business body, the General Confederation of Moroccan Enterprises (CGEM), has announced a new trade agreement with the European Union, strengthening economic ties and ensuring continued access for Moroccan exports to European markets, as reported by the Moroccan government-friendly North Africa Post via CGEM on October 9th.
The organisation described the deal as a “major diplomatic breakthrough” achieved under the leadership of King Mohammed VI, marking another feat in the country’s long-standing partnership with the EU.
CGEM revealed that the agreement not only promises market accessibility for Moroccan companies but also supports the strategic role of the Southern Provinces.
Reportedly, the deal has assured that agricultural and fisheries products from the Moroccan Sahara will continue to profit from preferential trade conditions, eradicating any doubts for exporters and investors.
Moreover, the agreement is expected to establish new plans focused on inviting European investment, pushing renewable energy projects, and generating sustainable jobs in the region.
CGEM stated that the agreement consolidates the positioning of the Southern Provinces as a leading destination for European and international investment, adding that it would “accelerate economic development in regions rich in potential across multiple sectors.”
According to the CGEM report, Morocco is currently the European Union’s largest trading partner in Africa and the Middle East. Bilateral trade between the two bodies is worth more than 640 billion dirhams (€60 billion) annually, with strong growth anticipated in the coming years.
The Southern Provinces are solely responsible for exporting over 200,000 tons of goods each year to Europe, worth about 6.41 billion dirhams (€590 million), according to CGEM data.
These exports have created close to 140,000 jobs across agriculture, fisheries, and related industries.
CGEM reinforces its commitment to promoting Moroccan and foreign companies operating within the kingdom and across the EU.
Additionally, Morocco’s key business body vowed to continue speaking up for deeper integration and mutual growth under the new plans, positioning the agreement as “a lever for shared prosperity” between Morocco and Europe.
North Africa Post via CGEM, Maghrebi.org
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