India-Morocco: Joint Committee Meets in New Delhi to Boost Bilateral Cooperation
Morocco-India Joint Committee has convened its 6th meeting in New Delhi to look into ways of boosting cooperation between the two countries in industry, agriculture, tourism, fisheries, railways, rural development, health, the pharmaceutical industry, telemedicine, energy, mining, sustainable development, higher education and scientific research.
The meeting was chaired by minister of Industry, Investment, Trade and Digital Economy Moulay Hafid Elalamy and India’s Minister of State for Commerce and Industry and food, C. R. Chaudhary.
The Joint committee pledged to build a sustainable economic partnership, end double taxation and set up a joint working group on tariff and non-tariff barriers in order to bolster trade exchanges.
Morocco-India talks also focused on cooperation prospects in justice, security, health, culture, social economy, vocational training, youth and sports.
The Moroccan delegation led by Moulay Hafid Elalamy took part in the 14th CCI-Exim Bank Conclave on India held March 17-19, with the participation of delegations from 21 African countries.
Under the theme “India and Africa: Shaping a Global Partnership for a Better World,” the event sought to lay the ground for more Indo-African cooperation, enabling Indian industry to “play a bigger part in Africa’s manufacture renaissance.”
Relations between Morocco and Indi gained momentum following the visit paid by King Mohammed VI to India in 2015 during which the Sovereign and Prime Minister Narendra Modi agreed to build a Strategic Partnership. The King had then participated in the third India-Africa Summit Forum.
Morocco-India trade relations have scored a steady growth. In 2014, trade between the two countries stood at $1.3 billion, with India’s exports to Morocco amounting to $500.5 million, while imports were valued at $855.8 million.
The balance of trade is generally in favor of Morocco because of India’s imports of phosphates. India sources a large chunk of its rock phosphates and phosphoric acid requirements for its fertilizer industry from Morocco, the world’s biggest phosphate exporter.