Morocco and Switzerland embark on innovative strategies to elevate economic collaboration and amplify integration across their productive sectors.This dedication surfaced during a dialogue at Bern, featuring Ryad Mezzour, Moroccan Minister of Industry and Trade, alongside Guy Parmelin, Swiss Federal Councillor for Economic Affairs, Education, and Research.
Parmelin lauded the economic partnership’s fruitful outcomes, highlighting bilateral trade’s robust growth and potential avenues for expansion. 2022 witnessed trade between the nations ascending to $778 million Swiss francs, marking an 18.9% surge over 2021. Swiss exports to Morocco escalated by 19.3%, with Moroccan exports to Switzerland climbing by 18.6%.
He underscored the equilibrium and diversity of trade exchanges, mirroring the Moroccan economy’s resilience. Mezzour pointed to the synergy between the economic frameworks of the two countries, especially regarding innovation and competitiveness.
He advocated for enhancing this synergy, particularly through innovation, to elevate Moroccan production’s value. Identifying the textile industry as a catalyst for augmented economic collaboration, the connection between stakeholders in both countries was recognized as instrumental. Significant Cooperation Potential
Morocco and Switzerland possess vast potential for cooperation, supported by a robust legal infrastructure. A bilateral investment promotion and protection agreement has been operational since 2005, complemented by a 2013 technical, financial, and humanitarian cooperation framework agreement.
The dialogue between Mezzour and Parmelin underscored both nations’ resolve to fortify their economies’ integration and competitivenessFocusing on innovation, research and development, along with global market access, will prove vital in exploiting the full potential of this bilateral nexus.
BUSINESS GENERAL | Türkiye Targets Flour Export Dominance, Aiming for 4M Tons by 2024
