Morocco-EU: Common Desire to Strengthen Bilateral Economic Cooperation

12/05/2022 33

Marrakech, 11 May 2022 - The strengthening of economic cooperation and trade between Morocco and the European Union (EU) was at the heart of talks, held Wednesday in Marrakech, between the Head of Government, Aziz Akhannouch, and the Executive Vice-President of the European Commission and Commissioner for Trade, Valdis Dombrovskis.

During this meeting held on the sidelines of the 31st Annual Meeting of the European Bank for Reconstruction and Development (EBRD), the two sides discussed the means to promote bilateral cooperation in several economic key sectors.

Speaking to reporters at the end of these talks, the Head of Government said that this meeting is of major importance insofar as Europe represents a strategic partner of the Kingdom in terms of economic and commercial exchanges.

These discussions focused in particular on the sectors of agriculture and green energies, he pointed out, while highlighting the importance of renewing trade relations between the two parties.

He also underlined the importance of exploring avenues to further strengthen these ties, adding that the organization of joint forums and meetings in the future would be useful to shed light on the potential of both parties, within the framework of win-win cooperation.

For his part, Mr. Dombrovskis noted that Morocco-EU trade and investment relations are on an upward trend, adding that these exchanges have returned to, or even exceeded, their pre-Covid level.

These talks focused on the means to make trade more flexible and the realization of profitable investments, he added, recalling, in this regard, the essential role of the free trade area for more than 20 years, in terms of promoting commercial ties between the two partners.

In addition, cooperation in the field of renewable energies was also at the heart of these talks, said Mr. Dombrovskis, noting that the Kingdom has enormous potential in this area which is attracting growing interest from the EU.

The Head of Government also held talks on the sidelines of the EBRD meeting with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso.

Placed under the High Patronage of HM King Mohammed VI, the 31st Annual Meeting of the EBRD, which will run through May 12 in Marrakech, brings together representatives of the 73 countries and institutional shareholders of the Bank, including Morocco.

Source: MAP