The British ambassador hopes to expand the partnership with Morocco to a free trade agreement
British officials aspire to raise commercial transactions and economic cooperation with Morocco and expand it to include broader areas in renewable energies, green technology in the automotive industry, agriculture and medical-related industries.
The officials do not hide the existence of a genuine desire to upgrade economic relations through the comprehensive partnership agreement that Britain signed with Morocco in December 2020. It came into force on January 1, 2021, and will expand soon.
British Ambassador Simon Martin said during a meeting on the outcome of economic relations between the two kingdoms after Britain’s official exit from the European Union (Brexit) that trade and economic relations between London and Rabat are witnessing a remarkable development, given the strong desire between the two parties to improve these relations for the better.
Simon Martin explained that there is a possibility of concluding a free trade agreement between the two countries in the coming years. It can continue to facilitate investment and commercial and economic exchanges between Morocco and Britain.
The British ambassador added: “There is a comprehensive partnership agreement that brings the two countries together at the moment, and with time, we can move towards concluding a free trade agreement, which we will oversee over the years.”
In a meeting organized by the British Chamber of Commerce in Morocco, the British diplomatic official in Rabat stated that the Moroccan economy is one of the competitive economies in the region, considering that the Moroccan and British economies are complementary.
The same speaker indicated that Morocco succeeded in creating an investment platform through “Casablanca Finance City”, which enabled it to occupy an important position at the regional level, and to attract the interest of large companies and investment groups, considering that there are promising investment opportunities for British companies in the Kingdom of Morocco, including the renewable energy sector and other fields.
Wafaa Saddah, Director of the Strategy and Communication Pole at the Moroccan Agency for the Development of Investments and Exports, said that Morocco’s remarkable stability makes it a unique destination for investors, which contributes significantly to attracting a large number of them.
At the meeting organized by the British Chamber of Commerce in Morocco, the Director of the Strategy and Communication Pole at the Moroccan Agency for the Development of Investments and Exports stated that renewable energies are among the distinguished strategic sectors within which it is possible to work jointly with the British private sector, as well as the textile, leather and environment-friendly sectors, most importantly electric cars and agriculture.
The Moroccan official added that the medical equipment manufacturing sector provides promising investment opportunities for British companies working in this field, whether for the Moroccan market or the markets of the rest of the African continent.