India & Morocco to Boost Trade Exchanges
An Indian business delegation is expected to visit the North African country, Morocco next week to boost further trade exchanges between the two countries and explore the possibilities of partnership projects in various sectors such as textile, infrastructure, energy, information technology, construction, agriculture, chemicals and fertilizers, mining, and automotive.
Morocco is one of the world’s top producers and exporters of fertilizers thanks to its phosphates and India is one of the major markets for Moroccan phosphate and its derivatives. India, one of the most populous countries in the world, needs fertilizers to boost agriculture output.
This visit comes one month after Morocco and India set up a joint trade and industry chamber to give a new impetus to cooperation between the two countries.
The chamber was launched during the visit paid to Morocco by vice-President of India Mohammad Hamid Ansari, in presence of the Head of the Moroccan Government Abdelillah Benkirane and businessmen from the two countries.
Benkirane recalling the longstanding and strong ties existing between the two countries sharing common development goals and views regarding several international issues said that Morocco is committed to developing its relations with India in all fields.
While, the India’s vice-President had stressed the importance of the newly created trade chamber set to enhance cooperation and partnership between Moroccan and Indian businessmen.
He also hailed trade growth between Morocco and India during the past years, stressing the huge potential of the two countries’ economies, banking on common history.
Exports from the North African country to India includes metallic ores and metal scrap, semi-finished products and inorganic chemicals, while its imports from India include cotton yarn, synthetic fiber, transport equipment, pharmaceuticals, agricultural implements, chemicals, spices and manufactured metals.