New Delhi [India], September 24 : Morocco is working on ways to balance its trade with India while also looking at expanding cooperation in several key sectors, Mohamed Maliki, Ambassador of Morocco to India, said on Wednesday.
Speaking toat the sidelines of the Millennial India International Chamber of Commerce Industry and Agriculture Conference, Maliki said, "We are working on the trade deficit. Of course, it's in the benefits of Morocco, but I'm quite sure that there are many ways of balancing this trade. It will just take place very soon, I'm sure."
The official underlined Morocco's role in India's food security through supply of fertilizers. "We are a very large contributor for the security of India, and that's through the fertilizers. It's quite important for India for security," he said.
He noted that both countries share a similar outlook on keeping their economies open. "I think both Morocco and India are very open countries, very open economies, and then protectionism is not a very long solution because it all depends on the dynamics of the markets," he explained. He added that meeting needs, attracting investments and creating opportunities require open economies.
The Ambassador also linked the growing momentum to Prime Minister Narendra Modi's "Voice of the South" initiative. "If you remember that, Prime Minister Narendra Modi, who was holding the Voice of the South, explains and then speaks about the opportunities that should be explored between developing countries. So I think we should see it as an opportunity as well for us," he said.
Highlighting the Arab region's importance, he said, "The main objective is to develop more trade and exchange and business opportunities between the Arab world and India. India is a very big partner, a reliable partner, and also a very strong economy. And then the Arab world is growing, there are great necessities, and lots of very good opportunities for investments."
He further said the delegation is being led by the Secretary of State, a member of the King's cabinet, reflecting the importance of its ties with New Delhi.
Highlighting defense cooperation, he cited a recent achievement, noting that India's Ministry of Defence had just been in Morocco, where they inaugurated the country's first defense facility outside India. This milestone signifies a high level of strategic partnership and trust between the two nations, particularly in the defense industry sector.
Looking ahead, he emphasised that many opportunities remain untapped. "There are so many opportunities that have not been exploited that we will need to exploit and then meeting people all together, helping to do all these things," he added.
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