Morocco-Belgium: Hubs for an economic partnership towards Africa and Europe

Under the theme "Morocco-Belgium & Grand Duchy of Luxembourg: hubs for an economic partnership towards Africa and Europe", the Moroccan Exporters Association (ASMEX) held a webinar in collaboration with the Belgo-Luxembourg Chamber of Commerce in Morocco (CCBLM).

The meeting was attended by Hassan Sentissi, President of ASMEX, Edwin Sluismans, President of CCBLM, Abdelaziz Mantrach, Vice-President of ASMEX-CCBLM, the representative of H.E.M. Marc Trenteseau, Ambassador of the Kingdom of Belgium to Morocco, as well as a panel of experts specialized in trade between Africa and Europe.

Quoted in an ASMEX press release, Abdelaziz Mantrach, Vice President of ASMEX-CCBLM stressed that "the collaboration between Morocco and theBelgo-Luxembourg region is an opportunity to create win-win partnerships and value sharing between our countries.Indeed, Morocco is considered as an essential hub from Africa to Europe, as well as a gateway to the African market. And Belgium and Luxembourg are precisely at the crossroads of European and extra-continental maritime, road and air routes, ASMEX said.

The same source continues that representatives of the regions of Wallonia, Flanders and Antwerp, true Belgian economic hubs, underlined their central position and their direct connections to thousands of ports in the world. Quoted by ASMEX, the ambassador of the Kingdom of Belgium to Morocco said in a letter to the participants: "There isroom for an increase in the power of our respective countries and an important development of our activities towards Africa and Europe.

Indeed, investing in the Moroccan hub comes with many advantages in terms of access to the entire African continent, according to ASMEX. It stresses that through the creation of "joint ventures" andother partnerships, Belgian-Luxembourgexporters can benefit from better port tariffs as well as tax-free zones, especially in terms of storage of goods. Road and sea lines are also facilitated, with quick turnaround times and a very interesting logistical flow, explained Nicolas Rougerie, Sales and Marketing Director of TIMAR.

Morocco is thus positioned as a connector between Africa and Europe, the association believes, and allows European operators to benefit from an export platform to African markets. Moroccan banks also play a role of locomotive and accompaniment.

In addition, ASMEX and CCBLM work together to encourage trade between the two countries. Indeed, the CCBLM has accompanied several dozen Moroccan companies to the European market, especially in the retail sector, the association said. Sluismans, quoted in the statement, said that Moroccan products have proved to be extremely competitive but that it is nevertheless important for companies interested in this market to take into consideration the processes of regulatory convergence and European standards.

The Moroccan Association of Exporters did not fail to recall that the Kingdom of Morocco is currently positioned as the 42nd customer and 51st supplier of Belgium. Exports of goods from Belgium to Morocco have increased by 37% between 2011 and 2019. However, they have decreased by 12.9% between 2019 and 2020, falling from 981.7 to 854.9 million euros. Imports from Morocco, on the other hand, increased by 18.7% between 2019 and 2020, from 382.1 million to 453.5 million euros.

In terms of traded products, the most exported goods from Belgium to Morocco are base metals (22.2%), machinery and equipment (19.4%), and chemicals (18.5%). In terms of services, the main sectors are communications (27.9%), transport (22.7%) and financial services (10.3%). Morocco exports mainly chemical products (37.1%), transport equipment (18.3%) and machinery and equipment (10.5%). The Kingdom also exports services, particularly in the tourist traffic (45.4%), communications (22.9%) and transport (10.6%) sectors.

Source: en.hespress .com