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Opportunities and threats of the brexit on Morocco

Morocco, bound by close economic relations with the United Kingdom, should anticipate the impact of Brexit in a way that preserves its gains and commercial interests, or even design a new legal framework for a better positioning of the national products, have recently, in Casablanca, the participants in a conference organized by the British Chamber of Commerce for Morocco.

During this transitional period, it would be necessary to ensure the continuity of the agreements between the two countries, including those relating to agricultural products, subject to restrictive provisions of the European Union (EU) which will no longer be required after Brexit, insisted the participants at this meeting under the theme “Brexit: what opportunities and what threats for Morocco?”.

Speaking on the occasion, political scientist Mustapha Sehimi recalled that global trade between Morocco and the United Kingdom amounts to an average of 13.8 billion dirhams per year (2014-2016), noting that Morocco, in the case of the UK’s exit from the EU, should take advantage of the removal of Community conditions which limited the evolution of its market shares.

In this regard, he recalled the talks between the Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forests, Aziz Akhannouch, and his British counterpart in London in 2018 on agricultural cooperation between the two. country and the impact of Brexit on the Moroccan-British agricultural partnership, noting that they have made it possible to explore ways of ensuring a good positioning of Moroccan agricultural products by clarifying the conditions for the disposal of exports transiting through the EU.

It is also necessary to look at a favorable legislative framework to further improve trade links, he added, stressing the importance of preserving bilateral agreements during the transitional period following Brexit and putting in place the appropriate agreements after this period.

With regard to currency risks, he referred to the volatility problems of the pound sterling and its impact on financial transactions, highlighting the need to establish competent arbitration bodies and possible remedies at the legal level in the post-Brexit.

For her part, Jenny Pearce, of the British Embassy in Rabat, highlighted the efforts made to control the impact of Brexit, especially in the Moroccan context and to avoid any break in economic ties, reiterating the determination of the United Kingdom to develop bilateral relations and serve the mutual interests of the economic operators of the two countries.

He also emphasized the significant presence of his country on the international scene, as evidenced by his action at UN level and his ambition to become a major investor on the African continent which is of great importance for the United Kingdom.

To recall that the Brexit agreement concluded by the British Prime Minister Boris Johnson and the European leaders after two weeks of intensive negotiations received, for the first time, the support of the British Parliament, which adopted in second reading its law of application.

329 MPs supported this law and 299 voted against this legislation, which will pave the way for detailed study of the text, just nine days before the planned departure of the UK from the European Union.

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