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'Morocco can be India's gateway to Europe, W. Africa'

IANS  |  New Delhi 

could serve as a gateway for India's exports to Europe, and the US due to a plethora of trade treaties with several and entities, a of the North African nation's industry chamber has said.

"is included in the European Union's European Neighbourhood Policy (ENP) which aims at bringing the EU and its neighbours closer," Nabila Freidji, of Morocco's industry chamber, the Confederation Generale des Enterprises du Maroc (CGEM) told IANS during a visit here.

Freidji, a leading example of the first generation of women entrepreneurs in her country,pointed out that has free trade agreements (FTA) with 55 to give it a market of 1 billion people.

It is the only African country to have an FTA with the US, and has been given the status of a major non-NATO ally by the US government.

The CGEM emphasised Morocco's possibility of being a springboard for Indian exports and investment into Europe, as well as to the US.

CGEM, in 2015, signed an MoU with Indian industry chamber FICCI for strengthening commercial relations by expanding and deepening economic, trade and investment cooperation.

Morocco is now the largest foreign investor in India's fertiliser sector, Freidji pointed out.

sources a large chunk of its rock phosphates and phosphoric acid requirements for its fertiliser industry from Morocco, the world's biggest phosphate exporter.

Although bilateral trade volumes hover around the $1.5 billion mark, the two decided to elevate bilateral ties to a strategic partnership in 2015, when attended the third India-Forum Summit here.

A founding member of the OIC, Morocco, whose constitutional monarch also has the title of 'Amir al-Mu'minin' or "of the Faithful", has very old links with dating to the Delhi Sultanate when Moroccan scholar and came here to join the service of the Sultan and lived in between 1334-41, before going on to Ibn Batuta's account is a primary source of information of life in the Delhi Sultanate.

Moroccan culture is a blend of Berber, Arab, West African and European influences, Freidji said.

"We are both Arab, as well as African and situated on the on the other side of Europe," she said.

Morocco is a member of the Arab League, the and the It has the fifth largest economy of Africa.

The pointed out that in its drive to integrate Morocco further in the global value chain, the country has also joined the "Partnership with Africa" initiave that aims to promote private investment, particularly in infrastructure, for Africa's sustainable economic development.

The group's initiative is also meant to support African countries in the establishment of a favorable business environment and in the development of the financial sector, in partnership with the IMF, the Bank and the African Development Bank.

"French carmaker has created 400,000 jobs in Morocco, while 300,000 jobs have been created by We aim to become the largest in the by the start of the next decade," Freidji said.

(Biswajit Choudhury can be reached at biswajit.c@ians.in)

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, March 17 2019. 16:20 IST
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