Abdelkader Amara, Minister of Industry, Trade and New Technology of Morocco. (Photo: www.mcinet.gov.ma)
Peru and Morocco intending to increase trade flow
Wednesday, October 03, 2012, 03:50 (GMT + 9)
The Peruvian government will propose Morocco to assess the feasibility of beginning negotiations of a bilateral free trade agreement, since it considers that the two markets can complement one another.
For the Minister of Industry, Trade and New Technology of Morocco, Abdelkader Amara, the free trade agreement (FTA) treaties are the best tool to attract investors, which is why he considers it is important to achieve this type of bilateral trade agreements.
The minister stated this during the Third Business Meeting between South American and Arab Countries (ASPA), being held in Lima, where he assured that the Moroccan experience could help improve relations between the Arab countries and South America.
"Morocco attaches special importance to cooperation and, through our participation in the summit, we hope we will highlight the relevance of cooperation and cause our countries to have increased trade flows," the Moroccan Minister said.
Besides, he explained that for many years Morocco has adopted a strategy called Multi-axis, for which the possibility of entering into strategic alliances with other countries was assessed.
"It was precisely the trade agreements and treaties we have with over 55 countries what opened international trade doors. We have an FTA with US and with several countries in Africa and Asia, and we are well underway with the European Union," he pointed out.
"Peru has also achieved key agreements that will strengthen its development and open the door to more competitive markets. That is the lesson we must all learn," he added, according to what Andina agency reported.
In addition, Deputy Minister of Foreign Trade of Peru, Carlos Posada, noted that both markets are complementary, because Peru needs investment in the energy sector and in water management, while Morocco imports agricultural products, livestock and fishery products from Peru.
And the head of the Ministry of Production (Produce), Gladis Triveño, ensured that Morocco is exploring investment opportunities in the Peruvian market after its relations with Spain were affected by the economic crisis of the country, reported Americaeconomica.com.
"Due to the economic stability of the country, they seem to be really attracted to generate new investments," commented the Peruvian official.
Finally, the Deputy Minister of Foreign Trade of Peru, Carlos Posada, said "The rapprochement with Arab countries has not been very good in recent years, but now we are taking advantage of their representatives’ presence, since they have interest in closer relations" with the country.
By Analia Murias