Home / Finance & Economy / Trade between India and Morocco increased to US $ 1.5 billion

Trade between India and Morocco increased to US $ 1.5 billion

External Affairs Minister Sushma Swaraj on Monday said the bilateral trade between India and Morocco has increased to 1.5 billion US dollar.
In a press statement, Swaraj said: “The result of this is that our bilateral trade has increased to 1.5 billion US dollars in October 2018.” “India attaches great importance to its multilateral partnership with Morocco. The bilateral trade between us shows that there is immense potential for business growth between the two countries,” she said.
Expressing her delight, the External Affairs Minister said, “I am happy that today our relationship has expanded to various strategic areas such as information technology, space, cybersecurity, education, health, extradition etc.” “Today, we have finalised these four other MoUs in order to ease the rules for issuing the business visa and, in areas of terrorism, housing and human settlement and youth affairs,” she said.
In the backdrop of recent Pulwama terror attack that left the entire world shattered, Swaraj revealed that the two nations signed an MoU and agreed to set up a Joint Working Group on Counter Terrorism to develop a comprehensive approach to combat terrorism including cross- border terrorism, terrorist financing, and recruitment of terrorists. “India has been a victim of cross-border terrorism for many decades. Therefore, today the agreement on the subject of counter-terrorism with our friendly country Morocco holds great importance for us,” she said.
Appreciating the social and developmental projects initiated by the Moroccan government in India, Swaraj said, “At the initiative of Maharajadhiraj Mohammed-VI, I heartily appreciate the social and developmental projects initiated by the Moroccan government on the large scale for the weaker sections of society.” “India is eager to share its various initiatives in Morocco with socio-economic areas. In various areas, we are committed to working towards making our relations even more intense. To express our commitment to this regard on behalf of our Honorable Prime Minister, I have brought their message to the Maharaja of Morocco, Morocco,” she said.
Hailing her talk with Nasser Bourita as “successful and useful,” Swaraj said, “During our talks, we not only reviewed the current bilateral relations and cooperation between the two countries but through this dialogue we also discussed ways to increase cooperation between us in the future.”
Swaraj also stated that Morocco and India have historical links since the time of Ibn Battuta. Expressing her gratitude for the warm hospitality, Swaraj said, “I express my gratitude to the Government of Maharajadhiraja Mohammed-VI and Morocco for the warm reception and hospitality of me and my delegation. Between India and Morocco, there have been historical links since the time of Ibn Battuta.” “Over time, especially in October 2015, due to the arrival of the Maharaja of Morocco in India to participate in the 3rd summit of the India-Africa Forum, bilateral relations between our two countries have become more intense,” she said. “Since then, the exchange of twenty-two ministerial tours has been done between the two countries. There were 37 MoUs and agreements between the two countries during these visits,” Swaraj said.

Check Also

Morocco, 3rd best destination in the world for foreign direct investment

Morocco is one of the countries that receive the most foreign direct investment (FDI) in …

Leave a Reply