Morocco-UK: Simon Martin on Potential Opportunities between the Two Countries

An official Morocco-UK meeting under the new association agreement will likely take place in the coming months.

During a webinar initiated by the British Chamber of Commerce for Morocco (BritCham) under the theme “Post-Brexit: New opportunities for Moroccan economy”, Simon Martin, the British Ambassador to Morocco noted that education, agriculture and financial services are among promising sectors for Moroccan-British cooperation, explaining that Morocco is full of huge investment opportunities in a number of sectors.

Morocco is a partner of choice for the United Kingdom and vice versa, he argued, emphasizing the importance of “fintechs” (financial technologies) in economic development and multiplication of future exchanges for investors.

In the process, Martin announced the holding of an official meeting as part of the new association agreement between Morocco and the United Kingdom, which will probably take place in the coming months.

For his part, Chairman of BritCham, Stephen Orr mentioned that the United Kingdom is Morocco’s 8th customer, recalling that the annual trade between the two countries amounts to more than 18 billion dirhams; “We can go much further and find common interests, ”he said, noting that several sectors can benefit from Brexit.

Orr added that the post-Brexit situation offers more opportunities for the two countries, calling for the establishment of an economically favorable Morocco-UK free trade agreement.

On another note, Ali Seddiki, the Director General of Industry at the Minister of Industry, Investment, Trade and Digital Economy, welcomed the “centuries-old” relations between the two countries, highlighting the economic and industrial opportunities to be seized by Morocco following Brexit.

“This is a new relationship that is being created and like any new relationship, it brings opportunities,” said Seddiki, adding that the framework for trade with the UK was dependent on Morocco’s relationship with the EU.

Seddiki concluded by explaining that the triangular relationship between Morocco, the EU and the United Kingdom will offer many opportunities for the two countries to be able to target the same market, which is that of Europe.