The exporters from Ecuador are optimistic that the ongoing visit by Foreign Minister Gabriela Sommerfeld to Morocco will pave the way for initiating discussions on a Free Trade Agreement (FTA) at the earliest opportunity. This sentiment was expressed by Xavier Rosero, the president of the Ecuadorian Federation of Exporters (Fedexpor), during an interview with EFE. Rosero emphasized that the barriers faced by Ecuadorian products in Morocco are significantly high, ranging from 30% to 50% in tariffs, posing a challenge for market entry and competitiveness.
Sommerfeld's current visit is aimed at advancing the implementation of a memorandum of understanding that was signed between Fedexpor and the General Confederation of Enterprises of Morocco (CGEM) earlier this year in January. According to Rosero, the Foreign Minister is scheduled to meet with her Moroccan counterpart, Nasser Bourita, where they hope to facilitate a swift progression toward establishing a commercial agreement.
Sources from the Ecuadorian Ministry of Foreign Affairs have outlined that the primary objectives of this visit include strengthening trade exchanges, opening new investment opportunities, and generating employment. On Thursday, a meeting took place involving Sommerfeld, Fedexpor, and Moroccan business leaders, during which the Foreign Minister highlighted Ecuador's openness to engaging new stakeholders and underscored the importance of cooperation in achieving shared development goals.
The memorandum signed in January aims to enhance the entry of Ecuadorian products into the Moroccan market, promote investments, and foster business alliances, all as part of an effort to diversify the destinations for Ecuador's exportable goods and establish a foothold in Africa. Additionally, the document outlines the creation of a Morocco-Ecuador Business Council, envisioned as a platform to connect businesses from both countries and develop joint initiatives such as business missions, specialized workshops, and participation in trade fairs and sectoral meetings.
This two-day visit to Morocco also includes representatives from ten Ecuadorian companies specializing in cocoa and its derivatives, bananas, and roses. The agenda for the exporters' federation includes meetings with the Moroccan Phosphate Office (OCP) to explore supply opportunities. Furthermore, they will attend meetings in Tangier with local authorities, tour the port in that city to understand its logistical capacities, and engage in business meetings with Moroccan companies to strengthen direct ties.
In addition, a meeting with Morocco's Minister of Industry and Commerce is scheduled as part of efforts to solidify the bilateral economic relationship.
As reported by swissinfo.ch.
