Friday 17 November 2017

Morocco keen to strengthen business relations with Mozambique

Morocco keen to strengthen business relations with Mozambique
(APA 07/14/17)

The Moroccan ambassador in Mozambique, Abdelali Rahhl says his country would like to develop with Mozambique agricultural cooperation in an integrated perspective, APA has learnt.

The diplomat said his country's intention is to strengthen business relations with Mozambique in the areas of fertilizer production, training of agricultural engineers and mechanization of agriculture.

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"We would like to develop agricultural cooperation with Mozambique in an integrated perspective, first, with regard to fertilizers, following the training of agricultural engineers and the mechanization

of the drip irrigation system. So we would like to implement in Mozambique this integrated vision we have developed in West Africa and East Africa, "said Abdelali Rahhl during a meeting on Thursday with senior members of the Confederation of Economic Associations of Mozambique (CTA).

Morocco is one of the countries of West Africa, which has agriculture as the main engine of growth and economy is dominated by agriculture which employs 40 per cent of the working population and accounts for almost 15 per cent of the Gross Domestic Product, so this will be the priority of economic cooperation with the country.

After more than 30 years outside the bloc of African countries, Morocco was reinstated in January 2017 in the African Union. Now the country says it has been paying attention to the potential for

economic growth and development in some countries of the continent, particularly Mozambique.

Morocco rejoined the club of African states after quitting over recognition of Western Sahara, bringing one of Africa's largest economies into the fold and raising hopes of a softening of one of its

thorniest territorial disputes.

For national entrepreneurs this is a door of opportunity for the priority sectors of the country.

"We, the national businessmen, will benefit from this opportunity to exchange experiences, exchange information on what Morocco has in terms of investment potential and disseminate this to our business. We expect to sign an agreement with CGM, a Moroccan business confederation with a role similar to that of CTA and then we will be able to materialize these investment interests, "said Julião Dimande, CTA deputy chairman on Thursday..

The memorandum between CTA and Moroccan businessmen is expected by September this year.

In recent years, Morocco's economy has been characterized by macroeconomic stability and low inflation. For Morocco, a relatively liberalized economy and firm Western ally, readmission to the AU should smooth its entry into fast-growing African economies to the south and help reduce its reliance on stagnant European markets to the north.

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