Moroccan Ambassador Urges Strengthened Trade Ties with Pakistan

KARACHI: Ambassador Mohamed Karmoune of Morocco emphasized the need for enhanced trade relations between Morocco and Pakistan, acknowledging the strong political ties but pointing out that economic exchanges remain limited. During his address at the Karachi Chamber of Commerce and Industry (KCCI), Karmoune stated that both nations must collaborate to become more competitive on the global stage.

Karmoune highlighted shared responsibility between the business communities of both countries for the current low trade volumes, urging a collective effort to make trade a crucial pillar of bilateral ties. He called for Pakistan’s business community to explore Morocco’s market potential, particularly in sectors like renewable energy and tourism.

Morocco’s recent achievements, such as welcoming 18 million tourists by the end of November 2024 and its role as a co-host for the 2030 FIFA World Cup, were noted by the Ambassador as opportunities for increased Pakistani engagement. He outlined Morocco’s strategic access to markets in Europe and Africa as an advantage for Pakistani businesses.

Honorary Consul General Mirza Ishtiaq Baig invited the KCCI to send business delegations to Morocco, noting ongoing initiatives like the Biryani Festival that promote Pakistani products. He expressed optimism that bilateral trade, currently at $800 million, could surpass $1 billion with continued efforts.

KCCI President Muhammad Rehan Hanif emphasized the strategic significance of Morocco and Pakistan as economic gateways to their respective regions. He advocated for joint ventures and business-to-business engagements to capitalize on untapped potential across various sectors.

The meeting underscored the necessity of enhancing trade footprints and fostering economic cooperation through exchanges, sector-specific visits, and agreements, as both countries strive to deepen their economic partnership.