The Ambassador of Morocco to Pakistan, Mohammad Karmoune, said on Wednesday that we enjoy long-standing commercial and diplomatic relations and that the government and people of his country have a special place in their hearts for Pakistanis. The Pakistani business community can collaborate with its country’s business people to benefit from opportunities in Morocco and the African continent, which are significant in driving inclusive growth and sustainable development.
The Ambassador of Morocco, Mohammad Karmoune, said this while speaking to the members of the Islamabad Industrial Association (IIA). President IIA Muhammad Ahmed, VP Usman Shoukat, Mian Akram Farid, Khalid Javed, Tariq Sadiq, Choudary Waheed Uddin, Zakaria Zia, Mian Shaukat Masood, Umais Khattak, Atif Ikram Sheikh, Naeem Paracha, Malik Sohail Hussain and others were present at the occasion.
He said that both countries have excellent potential for further growth in trade and economic relations, adding that Pakistan’s engagement with Africa continues to grow as Islamabad expands its diplomatic footprint in Africa.
There are vast opportunities to be tapped for both brotherly countries and business communities, and potential investors on both sides should be fully aware of the options.
He said we look forward to importing rice, IT services, textiles, and pharmaceuticals from Pakistan. We will also import wheat as soon as the brotherly country can have an exportable surplus.
He added that Pakistan could look into Morocco’s petrochemical, automobile, phosphate, leather, and other sectors for investment.
The kingdom possesses an estimated 77 percent of the world’s total phosphate reserves and remains the leading global exporter. “Phosphate is used in fertiliser, and we are helping to reduce hunger globally,” he said.
Earlier, President IIA Muhammad Ahmed and others apprised the Ambassador of the role of IIA and asked several questions about investment opportunities in Morocco. They said that we should increase trade with brotherly countries for mutual benefit.
We are proud of the positive role of Morocco, and we would like to visit the brotherly country as soon as possible to explore opportunities,” they said.
The African Continental Free Trade Area (AfCFTA) represents significant growth potential for the African economy, as it establishes a structure for fostering regional economic integration, growth, and progress.
The agreement has the potential to offer Pakistan fresh avenues to enhance its trade and investment connections with African nations, thus generating business and reinforcing economic relations, they said.
The IAA office bearers stressed the importance of Pakistan’s deeper engagement with the African continent through its “Engage Africa” policy.