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Tuesday 23 February 2021

Morocco and Serbia, Two Promising Markets with 'Enormous' Potential

Morocco and Serbia, Two Promising Markets with 'Enormous' Potential

Morocco and Serbia's position as two promising markets offering enormous potential for companies in both countries was highlighted during a video conference held on Tuesday.

The conference, held simultaneously by the Chambers of Commerce of Casablanca-Settat and Voivodina with Morocco's Embassy in Belgrade, is part of a partnership agreement on strengthening institutional cooperation to boost trade relations between Moroccan companies and their Serbian counterparts.

According to Yassir Adil, President of the Chamber of Commerce, Industry and Services of Casablanca-Settat (CCISCS), the state of trade "shows the long road ahead to achieve the goals set in terms of exploring and exploiting the potential for bilateral cooperation in promising sectors."

Morocco has embarked on a process of deep reforms in all areas and has increased investment in infrastructure, industry and transport to position itself as a hub and gateway to Africa and foreign investment while maintaining its economic leadership in Africa, he added.

For his part, the President of the Chamber of Commerce and Industry of Voivodina Bosco Vucurevic invited the business community of both countries to exploit and explore sectors that offer cooperation opportunities to boost bilateral economic relations.

Morocco's Ambassador to Serbia, Mohammed Amine Belhaj highlighted the Kingdom's achievements in terms of strengthening and improving its position in the business climate.

He also outlined the advantages offered to both domestic and foreign investors, especially in sectors such as industry, agribusiness, and tourism, among others.

In 2019, the overall volume of bilateral trade amounted to only about 26 million euros, with a favorable balance for Serbia, which exported 20 million euros of goods to the Kingdom.

MAP 23 February 2021