ISLAMABAD, Pakistan: The volume of bilateral trade between Pakistan and Morocco stood at US$ 321 million in the Fiscal Year 201819, the National Assembly was told.
Replying to a question in the House, the Minister for Commerce and Textile told that Pakistan’s exports to Morocco in the FY 2018-19 amounted to US$ 24.93 million and imports US$ 296.07 million.
The minister told that Pakistan’s major exports to Morocco include cotton yarn, Denim fabrics of cotton, Twill weave cotton fabric, Rice, semimilled or wholly milled, Plain weave cotton fab, and Gloves impregnated etc.
Whereas Pakistan’s top imports from Morocco include ‘Phosphoric acid and Polyphosphoric acids’, Natural calcium phosphates, aluminum calcium phosphates etc., Diammonium phosphate, Waste and scrap, of tinned iron or steel, Polyether’s, and Waste and scrap, and aluminum etc.
Apprising the House of steps being taken by the incumbent government to boost up domestic exports to Morocco in the next financial year, he told that the Ministry of Commerce has launched “Look Africa Policy Initiative” to boost Pakistan’s exports to Africa including Morocco in the coming years.
The minister said that talks on the Preferential Trade Agreement (PTA) with Morocco are being reactivated. He said that both the sides have already agreed on a road map for the negotiations of the project of PTA. In this regard, an exploratory meeting would be convened in the coming months.
In addition, he told that the Trade Development Authority of Pakistan (TDAP) regularly participates in Medical Expo, Morocco in Casablanca and each year leading companies from Surgical Instruments sector participates in the exhibition.
The minister further told that in addition to the approved trade fairs/exhibitions, new trade fairs will be considered for the participation of Pakistani companies and promotion of their potential products.
The TDAP is also planning to hold Single Country Exhibitions in major African countries including Morocco.