Significant Growth in Bilateral Trade
The trade exchange between the Kingdom of Morocco and the Republic of Kazakhstan is experiencing a remarkable surge that reflects the deepening economic ties between the two nations. According to the Kazakh foreign ministry, bilateral trade has seen a record growth of nearly 68%, bringing the total exchanges to approximately $460 million at the end of the previous year. This announcement was made during a meeting held in Casablanca, where ambassadors from the Asia-Pacific region convened with the President of the General Confederation of Moroccan Enterprises (CGEM), attended by Saulekol Saylaokiz, the Kazakh ambassador to Morocco, along with diplomatic representatives from Kazakhstan, Azerbaijan, Australia, Bangladesh, India, Indonesia, South Korea, Malaysia, Thailand, and the Philippines.
Strengthening Economic Cooperation
During her address at the event, Ambassador Saylaokiz, in her role as the dean of the Asia-Pacific diplomatic group, emphasized the substantial potential for trade and economic cooperation between Asian countries and Morocco. She highlighted the necessity of optimizing available opportunities to enhance intra-regional trade, investments, and commercial links. The Kazakh diplomat cited the dynamic development of Kazakh-Moroccan cooperation as a prime example, noting that since the establishment of the Kazakh embassy in Morocco in 2021, bilateral trade has surged by 68%, surpassing $460 million by the end of last year.
Furthermore, the ambassador pointed out the positive impact of the visa exemption system between the two countries, which has notably expanded the scope of trade and tourism exchanges between Rabat and Astana. She also underscored the importance of establishing a Kazakh-Moroccan Business Council, with its inaugural session scheduled for July of this year in Casablanca, featuring high-level delegations from the Kazakh business sector. This initiative is anticipated to be a significant step forward in developing direct communications between the business communities of both nations.
According to the Kazakh foreign ministry's statement, Mehdi El Tazi, President of the CGEM, presented key trends in Morocco's economic and social development, asserting the resilience of the national economy and its strategic position as a bridge connecting Africa, Europe, and the Arab world. In his opening remarks, El Tazi reiterated the importance of establishing bilateral business councils as an effective mechanism to translate political dialogue into actionable projects and tangible initiatives on the ground.
Additionally, the Kazakh ambassador held a separate bilateral meeting with the President of the CGEM during the gathering, where they discussed the preparations for the first session of the joint business council, prospects for expanding investment cooperation, and potential projects of mutual interest to business leaders from both countries.
As reported by hespress.com.
