Morocco-MERCOSUR, a 30% growth in trade in 2022

Morocco-MERCOSUR, a 30% growth in trade in 2022

Trade between Morocco and the Common Market of the South (MERCOSUR) has grown significantly in 2022, reaching around 47 billion dirhams (4.7 billion dollars), an increase of around 30% compared to the previous year. previous year, according to official information from the Ministry of Commerce and Industry.

MERCOSUR, a Latin American economic bloc created in 1991 by Brazil, Argentina, Uruguay and Paraguay, aims to promote economic integration among its members.

According to data provided by the Ministry of Trade and Industry, the value of trade between Morocco and MERCOSUR was around 36.2 billion dirhams (3.6 billion dollars) in 2021, registering a significant increase over the previous year.

In detail, Morocco imports MERCOSUR products worth $2.53 billion, while its exports amount to $2.17 billion, with Brazil being the Kingdom’s main trading partner within the this block.

Faced with this increase in the flow between the two partners, MERCOSUR is seeking to strengthen trade with Morocco, as evidenced by the recent official visit of Ruben Anibal Basigalup, President of the Group’s Parliament, which runs until June 14.

With a total area of ​​14.8 million square kilometers and a population of around 295 million, MERCOSUR member countries have diverse terrestrial and marine ecosystems, making them one of the largest reserves of biodiversity in the world. The bloc also ranks fifth in the world in terms of the size of the economy according to the International Monetary Fund (IMF).

Morocco strives to increase trade and investment with MERCOSUR by highlighting its qualifications and available opportunities. It is positioned in particular as a production and export platform to a market of more than one billion consumers. Thanks to its free trade agreements, particularly with the United States and the European Union, Morocco has become a distinctive international center.

In addition, Morocco aims to establish trilateral cooperation between MERCOSUR, Morocco and Africa, taking advantage of the country’s competitive advantages as a gateway to the African continent. This approach falls within the context of the implementation of the African Continental Free Trade Area.

MERCOSUR is now paying particular attention to the Middle East and North Africa region in order to strengthen its trade relations. Discussions are underway to organize a business forum in Morocco, which would bring together economic players and explore forms of integration, particularly in the agri-food and renewable energy sectors.

This business forum would provide a platform for building strong business partnerships and exploring new investment opportunities. It would focus on key sectors such as agriculture, agro-food industry, as well as renewable energies, which are areas of mutual interest for MERCOSUR and Morocco.


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