Assahafa.com
Trade cooperation between Morocco and the UK Recent data by the UK Department for Business and Trade said the total trade in goods and services between the two countries reached £3.8 billion (MAD 48.25 billion) in the four quarters to the end of Q2 2024.
The number represents an increase of 10.9% or £378 million (MAD 479.86 million) in current prices from the four quarters to the end of Q2 2023.
The data shows that the total UK exports to Morocco reached £1.4 billion (MAD 17.77 billion) in the four quarters to the end of Q2 this year. The fact sheet acknowledged a 4.1% decrease in current prices compared to this time period.
Total UK imports from Morocco, meanwhile, amounted to £2.4 billion (MAD 30.47 billion) in the four quarters to the end of Q2 this year. The number accounted for 0.2% of the total UK trade.
The recent statistics come in the wake of a productive meeting between Moroccan and UK investors, where they discussed the growing potential for cooperation — particularly in the agriculture sector.
Earlier this month, the Agricultural Development Agency (ADA), in partnership with the Moroccan embassy in the UK, convened in an investment focused event in London. The meeting provided a hub to discuss investment opportunities between the two countries.
Moroccan officials shared impressive data, showing that Morocco’s agricultural exports to the UK reached $554.37 million (MAD 5.5 billion) last year.
The growth reflects a 56% increase in Moroccan agricultural exports to the UK from 2021 to 2023.
The momentum in trade cooperation comes as both countries continue to express the importance of bilateral ties.
Since the signing of the Association Agreement in 2019, the UK and Morocco have worked together in different sectors, including trade and food security.
This made UK members of the parliament increasingly recognize Morocco’s strategic positioning, urging their government to boost ties with Rabat.
A growing number of MPs have been advocating for the UK to formally recognize Morocco’s sovereignty over its southern provinces in Western Sahara and support the Autonomy Plan as the most credible political solution. This position aligns with the rising international backing for Morocco’s sovereignty and territorial integrity.
To date, the UK has been only officially stating their support for the UN-led political process and appreciating Morocco’s efforts in this realm.
Source: Morocco word news
