ISLAMABAD, Dec 14 Ambassador of Pakistan in Morocco, Sayed Adil Gilani, has greeted the focal person to the Chairman of the Prime Minister’s Youth Program (PMYP), Shaheryar Memon and his delegation member at the Pakistan Embassy for participation in the Islamic African Arab Dialogue on Democracy, Peace and Security in Morocco.
During the meeting, head of the visiting delegation Shaheryar Memon, briefed Ambassador Gilani on PMYP, its activities and vision for promoting Pakistan’s trade in the global market, said a release issued here on Friday.
On this occasion, the delegation exchanged views on issues of bilateral relations in different spheres.
Focal person to the Chairman PMYP, Shaheryar Memon said that Morocco and Pakistan maintain strong political ties with growing economic relations, marked by bilateral trade reaching approximately $800 million recently. Both nations aim to exceed $1 billion in trade volume through enhanced business collaboration, he said.
He said that Morocco’s strategic free trade agreements position it as a gateway for Pakistan into African and European markets.
Memon said that Pakistan’s exports to Morocco grew from $24.85 million in 2018 to $32.06 million in 2022, while Morocco exports phosphates and fertilizers to Pakistan, contributing to an overall favourable balance for Morocco at around $598 million in 2021.
He said that recent discussions at the Karachi Chamber of Commerce highlight untapped potential, with current trade at $800 million, and efforts include direct flights, trade delegations, and events like the Biryani Festival to promote Pakistani rice.
The key sectors of the bilateral trade are textiles, apparel, surgical goods and pharmaceuticals from Pakistan and phosphoric acid, DAP fertilizers and rock phosphates from Morocco, he said.
Emerging areas are renewable energy (solar, wind), IT, agriculture, tourism, mining, and logistics, he remarked.
He proposed that business leaders advocate joint ventures leveraging Morocco’s FTAs with Europe, 54 African countries, and Turkey and Pakistani chambers push for MoUs, delegations and the “Look Africa” policy using Morocco as an entry point.
Morocco’s co-hosting of the 2030 FIFA World Cup offers tourism and business opportunities and Pakistan’s football needs to export in this mega event.