PHOTO: REUTERS
KARACHI: Pakistan’s business community should explore trade and investment opportunities in Morocco and benefit from its free trade agreements with the United States and European Union, said Moroccan Ambassador Mohammed Karmoune.
Speaking at the Karachi Chamber of Commerce and Industry (KCCI), the envoy cited the slim trade volume between the two nations and urged businessmen of Pakistan to arrange visits of trade delegations to Morocco in order to explore trade and investment opportunities there. “Trade volume between Morocco and Pakistan is not at the level anticipated by business communities of the two countries,” he said. “Hence, collective efforts need to be made by both sides to improve the existing meagre trade volume.”
He added that his country would jointly explore with Pakistan the areas where businessmen of the two nations could collaborate.
Terming Morocco a gateway to the entire African region, he said it was a trading hub with well-established ports and referred particularly to the Port of Tangier, which had the capacity of handling nine million containers a year.
Underscoring the importance of promoting trade and business ties, the ambassador emphasised that exchange of trade delegations was imperative to identifying the trade potential.
He added that Pakistani investors and businessmen had expressed interest in exploring the opportunities being offered by Morocco.
“Tourism is an important driver of Moroccan economy,” he said. “Pakistan too has immense potential in this sector and the two countries can exchange ideas for promoting tourism.”
Speaking on the occasion, KCCI President Agha Shahab Ahmed Khan stressed that in order to expand Pakistan’s exports to Morocco, the exporters needed to diversify their products because staying confined to the traditional items would not yield desired results.
He emphasised that the country needed to pay equal attention to the geographical diversification as well or else exports would remain restricted to around $25 billion.
“We have advised the government to devise an effective strategy for geographical diversification and we are happy to see that the government has realised its significance and taken the Look Africa Policy initiative,” he said.
Published in The Express Tribune, February 21st, 2020.
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