The trade relationship between Pakistan and Morocco holds significant promise, as noted by Ambassador Mohamed Karmoune of Morocco. Speaking at a meeting with industrialists at the Korangi Association of Trade and Industry (KATI), the Ambassador expressed optimism about increasing the current trade volume to over $232 million.
The event saw the participation of key figures including KATI Deputy Patron-in-Chief Zubair Chhaya, Senior Vice President Nighat Awan, Vice President Muslim Mohammadi, Standing Committee Chairman Rashid Ahmed Siddiqui, Former President Danish Khan, Honorary Consul General of Morocco Ishtiaq Baig, and other industrialists.
Ambassador Karmoune emphasized Morocco’s strategic advantage as a gateway to Europe, given its free trade agreements with African countries and the European Union. He encouraged Pakistan to leverage these agreements to boost trade with Morocco. He also mentioned that visa procedures for Pakistanis have been simplified to facilitate this process.
Opportunities in Various Sectors
Karmoune highlighted Morocco’s thriving tourism industry as a lucrative opportunity for Pakistani investors, thanks to its scenic landscapes and rising international film exposure. Additionally, Morocco boasts ten major ports and is seeing significant investments in telecommunications, energy, and banking. The Ambassador assured that KATI’s cooperation would support bilateral trade delegations in exploring various investment opportunities in Morocco.
KATI Vice President Muslim Mohammadi provided historical context, noting that Pakistan and Morocco established bilateral relations in 1958. Despite the currently low trade volume, he emphasized the need to explore new partnership opportunities, especially in pharmaceuticals, auto spare parts, and tourism. Mohammadi stressed the importance of collaboration between both governments and business communities to strengthen these ties.
Promoting Bilateral Awareness
Rashid Siddiqui, Chairman of the Standing Committee on Diplomatic Affairs, underscored the necessity of organizing trade delegations and single-country exhibitions between Pakistan and Morocco. He pointed out the lack of awareness about Moroccan exports in Pakistan and vice versa, highlighting the need for business-to-business meetings to bridge this information gap.
Investment Opportunities in Pakistan
Zubair Chhaya, KATI Deputy Patron-in-Chief, highlighted Pakistan’s rich natural resources and vast investment opportunities in sectors like tourism, construction, hydro and solar power projects, mines and minerals, and agriculture. He assured Moroccan investors of full support from KATI in capitalizing on these opportunities in Pakistan.
The discussions were robust and constructive, with participants such as SVP Nighat Awan, Honorary Consul General Ishtiaq Baig, Former President Danish Khan, and other industrialists sharing their views and offering suggestions to promote mutual trade.
Looking Forward
Both Pakistan and Morocco stand to benefit significantly from enhanced trade relations. The potential to increase the bilateral trade volume to over $232 million is an exciting prospect. With simplified visa processes, strategic trade agreements, and support from both governments and business communities, the future looks promising for trade between these two nations. The focus now is on transforming these discussions into actionable plans that will yield tangible benefits for both countries.
