A high-level trade delegation from Morocco arrived in Bengaluru on November 26, as part of a six-day visit to India.
The delegation is led by Mohamed Maliki, ambassador to India. They had a series of meetings with government officials, industrialists and professionals in Bengaluru.
“Under the leadership of King Mohammed VI, Morocco has positioned itself as a leading regional industrial and export platform with the fastest growing automotive cluster in the world. We created the brand ‘Morocco Now’ to position Morocco as an investment destination that encourages renewable energies and offers a distinctive value proposition with privileged access to a market of more than 1 billion consumers through the country’s 54 free trade agreements,” Mr. Maliki told mediapersons in Bengaluru.
Morocco could be considered as the gateway to Europe and Africa. The country constantly introduced progressive policies to enhance business and investments, he said.
The ‘Morocco Now’ initiative is expected to boost bilateral trade with India, which is currently around $2.1 billion. While India’s exports to Morocco include automotive, pharmaceutical, petroleum, chemical products and textiles, import is dominated by phosphate and potash.
Morocco is keen to increase its presence in India. The country has consulates in Mumbai and Kolkata, and is working on opening another consulate office in Bengaluru.
“Our aim is to grow together and have India as one of our top 10 partners by 2025. We have outsourced visa services whereby potential investors can apply in cities wherever they are. These visas will be valid for a period of one year, and will be processed within 3 to 5 days,” Mr. Maliki said.
Minister for IT/BT and S&T C.N. Ashwath Narayan said, "Karnataka is keen on strengthening bilateral trade relations. Direct flight connectivity between Karnataka and Morocco will boost trade relations and transactions.
“Morocco has huge potential in the tourism sector, and Karnataka has been a pioneer in emerging technologies. Morocco should consider providing tax rebates to companies from the State, which are keen on investing in Morocco."
The delegation, supported by the Moroccan Investment and Export Development Agency, will organise high-level business meetings and road shows in Mumbai and New Delhi as well.
