Enhancing Bilateral Relations through Strategic Partnerships
An economic meeting took place in Rabat on Monday, bringing together the General Confederation of Moroccan Enterprises (CGEM) and a delegation from the Confederation of Indian Industry (CII). This significant event was co-chaired by Omar Hejira, the Secretary of State for Foreign Trade, and Jitin Prasada, the Indian Minister of State for Commerce, Industry, and Electronics and Information Technology. Organized alongside the 7th session of the India-Morocco Joint Commission, this gathering served as a vital platform to enhance exchanges between the business communities of both nations, exploring new opportunities in trade, investment, and partnership across several high-potential sectors, including phosphates and their derivatives, textiles, the automotive industry, agribusiness, information technology, pharmaceuticals, and renewable energy.
The primary goal of this meeting was not only to identify opportunities as outlined by the Joint Commission but also to encourage the realization of these opportunities by fostering new investment projects and developing industrial partnerships. This initiative aims to reinvigorate economic cooperation between Morocco and India, reflecting the mutual political will to elevate bilateral economic relations to a higher level. Mr. Hejira emphasized that achieving this ambition requires active involvement from the private sector.
Expanding Horizons for Future Collaboration
Mr. Hejira also highlighted the importance of diversifying partnerships and investing in new high-value sectors. He proposed that the private sector institutionalize an annual economic forum that would alternate between Morocco and India. Meanwhile, Mr. Prasada expressed satisfaction with the strong strategic dynamics characterizing bilateral relations, noting that while trade exchanges reached approximately $4 billion last year, this figure remains below the actual potential of both countries. He stated, "In our roadmap, we have agreed to double our bilateral trade within five years," urging a shift beyond traditional sectors like agriculture and phosphates towards future-oriented fields such as advanced manufacturing, renewable energy, chemistry, digitization, and future skills. He also mentioned the mutual desire to work towards a commercially beneficial agreement aimed at reducing tariff barriers.
On his part, Mohan Puri, head of the CII delegation, reaffirmed the commitment of Indian companies to make Morocco a genuine gateway to Africa, recalling that significant Indian investments are already operational in the Kingdom, including armored vehicle manufacturing by Tata Advanced Systems. Mr. Puri highlighted Indian expertise in engineering and procurement (EPC), digital economy, space, and defense, asserting that Indian companies are ready to enhance their contributions to large-scale projects in Morocco, particularly in light of the upcoming 2030 World Cup.
In the same vein, Samia Terhzaz, Deputy General Director of CGEM, noted that this business session brought together around fifty Moroccan and Indian companies to discuss cross-investment opportunities. She specified that discussions targeted strategic and promising sectors, including technology, renewable energy, agriculture, and pharmaceuticals. "There are still many opportunities to seize, and we also addressed the innovation aspect to further stimulate investments, whether for Indian operators in Morocco or for Moroccan companies in India," she stated. The 7th session of the Morocco-India Joint Commission reinforces the dynamic of friendship and cooperation that unites the Kingdom of Morocco and the Republic of India. These ties, nurtured over the years through numerous high-level visits, received a new impetus during the visit of His Majesty King Mohammed VI to India in 2015. This initiative aligns seamlessly with the Royal Vision aimed at diversifying the Kingdom's strategic partnerships, expanding its cooperation horizons, and enhancing its openness to major global economic powers, particularly in Asia.
As reported by snrtnews.com.
