Morocco's Trade Strategy Takes Shape: 524 Proposals Chart Course for 2025-2026

Tuesday 31 December 2024 - 14:15

By: Dakir Madiha

Morocco's Trade Strategy Takes Shape: 524 Proposals Chart Course for 2025-2026

Morocco is making significant strides in reshaping its foreign trade landscape, with 524 proposals now collected for its upcoming 2025-2026 foreign trade roadmap. Secretary of State Omar Hejira, who oversees foreign trade under the Ministry of Industry and Commerce, revealed these developments during a recent House of Representatives session.

The initiative demonstrates strong regional engagement, with 80% of proposals originating from local stakeholders, while central government contributions account for the remaining 20%. These proposals target crucial areas for sector growth, including enhanced competitiveness, simplified administrative processes, support for small and medium-sized enterprises, market diversification with a focus on Africa, and strengthening export resilience.

Morocco's export profile shows notable concentration in six key industries, which together represent 92% of total exports. The automotive sector leads at 34.4%, followed by agriculture and food industries at 19.3%, phosphates and derivatives at 17.8%, leather products at 10.7%, aviation at 5.3%, and electronics at 4.3%.

The consultation process proved remarkably efficient, engaging over 1,200 participants within a month. Stakeholders included representatives from the General Confederation of Moroccan Enterprises (CGEM), industry federations, and chambers of commerce, industry, and services.

However, current trade patterns reveal certain imbalances. A striking 85% of exports originate from just three regions, highlighting the need for more equitable economic development across the country. Additionally, trade figures from 2023 show exports at MAD 430 billion against imports of MAD 716 billion, indicating a significant trade deficit requiring attention.

European markets remain crucial for Morocco's exports, absorbing 70% of goods, with Spain and France together accounting for approximately half of all exports. Despite these challenges, Morocco's economic outlook shows promise, with foreign direct investment reaching MAD 16.3 billion in the first nine months of 2024, marking a 50.7% increase year-over-year. This growth is attributed to Morocco's new investment charter and strategic focus on high-value industries.

The comprehensive range of proposals and broad stakeholder engagement demonstrate Morocco's commitment to developing a robust and inclusive foreign trade strategy for the years ahead, while addressing current imbalances and building on existing strengths.