Guinea, an access for Morocco to regional markets of ECOWAS and UEMOA
Rabat - Given its geographic location, Guinea-Conakry will give Morocco access to the two regional markets of the West African Economic and Monetary Union (UEMOA) and of the Economic Community of West African States (ECOWAS), which total respectively 80 million and 300 million consumers, says the Moroccan national center of foreign trade (CNCE).
Source : https://www.emouaten.com/english/Guinea-an-access-...
Morocco, viewed as a privileged partner that contributes to the socio-economic development of Guinea, operates in several sectors encompassing agriculture, trade, handicraft and training, CNCE notes in a report prepared as HM King Mohammed VI paid on Monday a visit to Guinea-Conakry, stressing that the two countries are bound by several cooperation agreements dealing with a wide array of fields such as electricity, water, mines, trade and training.
The center also considers the African country as a very promising destination of Moroccan investments as the country offers protection to Moroccan investors and avoids them double customs duties.
Guinea is also experiencing political stability and projects are intensified, but expectations are high, says CNCE which also recalls the presence in this country of Moroccan banks, the country's geographic location bordering six countries and open onto two major regional groupings as well as investment-thirsty reconstruction process.
Guinea has also great needs in terms of training, untapped mining and fishing potentials (with 300 km of coasts) and promising opportunities in local and regional markets, says the center which considers that "it is an appropriate time to invest in the fishing sectors which accounts for 2.5pc of the Guinean state's budget with 1.2 million Euros of receipts and on which 7 to 15 pc live."
Guinea's exports to Morocco are worth USD 5.9 million while its exports to the Kingdom are valued at USD 70 million.
The center also considers the African country as a very promising destination of Moroccan investments as the country offers protection to Moroccan investors and avoids them double customs duties.
Guinea is also experiencing political stability and projects are intensified, but expectations are high, says CNCE which also recalls the presence in this country of Moroccan banks, the country's geographic location bordering six countries and open onto two major regional groupings as well as investment-thirsty reconstruction process.
Guinea has also great needs in terms of training, untapped mining and fishing potentials (with 300 km of coasts) and promising opportunities in local and regional markets, says the center which considers that "it is an appropriate time to invest in the fishing sectors which accounts for 2.5pc of the Guinean state's budget with 1.2 million Euros of receipts and on which 7 to 15 pc live."
Guinea's exports to Morocco are worth USD 5.9 million while its exports to the Kingdom are valued at USD 70 million.
Source : https://www.emouaten.com/english/Guinea-an-access-...