The purpose of the visit is to consolidate and strengthen relations between the Kingdom of Morocco and Mercosur, and to present the significant advances made by Morocco, particularly in terms of economic development.
On this occasion, the two parties welcomed the dynamic trade and quality of relations that Morocco and Mercosur have maintained to date, and which make it possible to look forward with optimism to their consolidation on an economic and industrial level.
In this respect, Mezzour highlighted Morocco’s strengths as a production and export platform for a market of over a billion consumers, thanks to its free-trade agreements with the United States and the European Union (EU) in particular, which make it an international hub.
The Minister also emphasized that the common economic interests of both parties, as well as their economic potential, easily enable their cooperation to move from an essentially commercial relationship to a multi-sector partnership, notably in the industrial sector, calling for deploying triangular Mercosur-Morocco-Africa cooperation, and to take advantage of Morocco’s competitive advantages as a gateway to Africa, in the context of the implementation of the African Continental Free Trade Area (AfCFTA).
For his part, Basigalupe, on a working visit to Morocco from June 9 to 14 accompanied by a delegation of Mercosur parliament members, praised Morocco’s efforts in terms of economic performance.
He also underlined Mercosur’s strong commitment to exploring all partnership opportunities with the Kingdom, especially as the group aims to strengthen its trade relations with MENA countries, given the potential for complementary interests.
The two parties also stressed the importance of organizing a business forum to bring their respective business communities closer together, as well as seeking complementarities between the two economies, particularly in the agri-food industry and renewable energies, in view of the challenges that these two sectors represent.
Trade between Morocco and MERCOSUR is expected to reach $4.70 billion in 2022 ($3.6 billion in 2021).
