MATRADE Sees Big Market Potentials In Morocco

KUALA LUMPUR, Oct 17 (Bernama) -- There are ample room for Malaysia and Morocco to further expand trade ties as both countries have huge potentials for their respective business communities to tap into, says the Malaysia External Trade Development Corporation (MATRADE). Chief Executive Officer, Dzulkifli Mahmud, who called for more collaborations and cooperation between the two countries, said at present the overall trade volume between Malaysia and Morocco was still low. "Malaysia views Morocco as an important trading partner in northern Africa. "The two-way trade and cross-border investments between both countries could be further enhanced by organising more exchange of visits between the two countries, as well as, business and investment-related programmes," he said at the 'Morocco-Malaysia Business Opportunities' seminar here Monday. The seminar was organised by MATRADE, the national trade promotion agency in collaboration with the Moroccan Centre for Export Promotion, following Malaysia's export acceleration mission to the country in May. Dzulkifli said in 2015, Morocco was Malaysia's third largest trading partner and export destination, and its fourth import source in northern Africa after Egypt and Algeria. He said last year, Malaysia's exports to Morocco stood at US$60.1 million (US$1 = RM4.21) while imports amounted to US$19.6 million. Among Malaysia's key exports to the country are palm oil and palm-based products, electronic integrated circuits, lead plates and rubber gloves. As part of MATRADE's initiatives to deepen and widen trade relations with the African continent, Dzulkifli said, it would hold 'Africa Business Day' on Oct 31, 2016. --BERNAMA