Morocco Offers Gateway to Russian Investments in Africa

Morocco’s increasing diplomatic and economic clout in Africa enables it to offer a gateway for Russian business wishing to invest on the continent.

The visit by Morocco’s foreign Minister to Moscow is part of a Moroccan endeavor to strengthen its role as a platform for Russian investments towards Africa.

“His Majesty King Mohammed VI is keen on boosting partnership with Russia on all levels. Russia plays an important geo-political and economic role [internationally],” Morocco’s foreign minister Nacer Bourita told the media at the closing of the sixth joint Moroccan-Russian commission for economic, scientific and technological cooperation, convened in Moscow.

“Morocco aspires to be Russia’s major Arab and African trading partner. We are ready to put all our efforts to reach that goal,” he said, adding that the kingdom looks forward to seeing Russia among its ten major trading partners.

Bourita highlighted the sectors of agriculture and fisheries as main areas of cooperation, underscoring the growing fruitful cooperation in the areas of technology, pharmaceutics, and the automotive industry.

Morocco is the second largest trading partner of Russia in the Arab world and Africa with a total bilateral trade value of $2.5 billion.

In March 2016, King Mohammed VI paid a visit to Moscow where he held talks with President Vladimir Putin. The visit added momentum to the strategic partnership between the two countries.

 

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