Morocco, Pakistan to deepen economic ties: Ambassador

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ISLAMABAD, JUN 14: /DNA/ – Ambassador of Morocco to Pakistan, Mohammad Karmoune said on Wednesday that we enjoy long-standing commercial and diplomatic relations and that the government and people of his country have a special place in their hearts for Pakistanis.

The Pakistani business community can collaborate with the businessmen of his country to benefit from opportunities in Morocco and the African continent, which are playing a significant role in driving inclusive growth and sustainable development.

The Ambassador of Morocco Mohammad Karmoune said this while speaking to the members of the Islamabad Industrial Association (IIA).

President IIA Muhammad Ahmed, VP Usman Shoukat, Mian Akram Farid, Khalid Javed, Tariq Sadiq, Choudary Waheed Uddin, Zakaria Zia, Mian Shaukat Masood, Umais Khattak, Atif Ikram Sheikh, Naeem Paracha, Malik Sohail Hussain and others were present at the occasion.

Both countries have excellent potential for further growth in trade and economic relations, he said, adding that Pakistan’s engagement with Africa continues to grow as Islamabad expands its diplomatic footprint in Africa.

There are vast opportunities to be tapped for both brotherly countries and business communities, and potential investors on both sides should be fully aware of the opportunities.

He said that we are looking forward to importing rice, IT services, textiles, and pharmaceuticals from Pakistan and that we will also import wheat as soon as the brotherly country can have an exportable surplus.

Pakistan can look into the petrochemical, automobile, phosphate, leather, and some other sectors in Morocco for investment, he added.

The kingdom possesses an estimated 77 percent of the world’s total phosphate reserves and remains the leading global exporter. “Phosphate is used in fertiliser, and we are helping to reduce hunger globally,” he said.

Earlier, President IIA Muhammad Ahmed and others apprised the Ambassador of the role of IIA and asked several questions about investment opportunities in Morocco. They said that we should increase trade with brotherly country for mutual benefit.

We are proud of the positive role of Morocco, and we would like to visit the brotherly country as soon as possible to explore opportunities,” they said.

The African Continental Free Trade Area (AfCFTA) represents significant growth potential for the African economy, as it establishes a structure for fostering regional economic integration, growth, and progress.

The agreement has the potential to offer Pakistan fresh avenues to enhance its trade and investment connections with African nations, thus generating business and reinforcing economic relations, they said.

The IAA office bearers stressed the importance of Pakistan’s deeper engagement with the African continent through its “Engage Africa” policy.