Morocco’s Fruit & Vegetable Win Russian Market, 40% Rise Expected End of 2016
Viacheslav Jrulev was quoted by Russian Sputnik that Morocco’s exportation of agriculture produce namely fruits and vegetables will increase by 40 per cent by the end of 2016
Jrulev also told the Russian media that Morocco’s vegetable exports to Russia during the first quarter of the year have doubled compared to last year figures while the volume of fruits exports has stagnated.
Relations between Russia and Morocco, including in economy and trade, were given a new momentum this year during the state visit King Mohammed VI paid to Russia in March. The leaders of the two countries oversaw then the signing of scores of accords.
Morocco would benefit from the embargo Russia imposed on products of a number of countries including EU countries and Turkey, Jrulev said.
The United States and the EU have imposed economic sanctions against Moscow following its annexation of the Crimea-forcing Vladimir Putin and his government to diversify Russia’s economic partners.
Morocco has stood as a key partner becoming the second African country with large economic trade with Russia, behind Egypt.
Trade exchanges between the two countries have scaled up to reach $2.5 billion per year, huffpostmaghreb.com reports.
Out of the $2.5 billion trade exchanges estimate, imports of Morocco’s food commodities account for 92 per cent.
Future prospects are positive for Morocco as the Kingdom may overtake Turkey which has fallen out with Russia over Ankara’s downing of a Russian military jet in November last year on the Turkish-Syrian border. Moscow reacted angrily and imposed economic sanctions on Turkey.