GCC Countries, Promising Market for Morocco’s Fisheries Exports

Countries of the Gulf Cooperation Council (GCC) offer an alternative market that may reduce Morocco’s dependence on exports to Europe, the Moroccan finance ministry said in a study.

The study highlights the promising prospects for fisheries exports to the GCC countries and shows the rising fisheries consumptions trends in these countries.

The study notes that Morocco’s fresh fisheries exports remain absent in GCC markets while Moroccan canned fish represents 2% in its category in the UAE and 1% in KSA.

The analysis adds that Moroccan exporters should explore the opportunities offered in GCC markets to reduce dependence on Europe, which remains the main export destination for Moroccan fisheries.

“Diversification of our fisheries export destinations, which remain strongly concentrated in Europe, is key to reduce Morocco’s dependence on traditional markets,” the study underscores.

Morocco’s fisheries exporters need to diversify export markets at a time demand remains stable in Europe in contrast to other regions with rising consumption trends.

The GCC is made up of Bahrain, Oman, Qatar, Kuwait, Saudi Arabia and the United Arab Emirates.