Brexit: Keith Prince discusses UK trade
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
It comes as the Moroccan Investment and Export Agency (AMDIE) held an event in London from March 21 to 23 to promote its national investment and export brand, “Morocco Now”. Express.co.uk spoke to Ali Seddiki, Head of Development at AMDIE, which is part of the Moroccan Government’s Investment and Development Agency.
He said that thanks to Brexit, there is a “huge opportunity” to build on relationships with Morocco that could bring a massive boost to a range of UK industries.
Mr Seddiki said: “It’s a win-win kind of deal that we want to create.
“We are looking at current trade relationships and we have an excellent political relationship, an excellent cultural relationship, but businesswise we think there is a lot that we think that we can do to achieve the right level.
“We have been one of the first counties to sign an agreement right after Brexit and we are working with the Government to see that can improve in that agreement because it is obviously a different now that the UK has left the European Union.“
The UK-Morocco association agreement saw the two nations cosy up after Brexit, entering into force on January 1, 2021.
Total UK imports from Morocco amounted to £1.1billion in 2021, while total UK exports to Morocco amounted to £757million.
Mr Saddiki said that Brexit has given Morocco the chance to “keep on building a direct relationship with the UK”.
He added: “There are a lot of areas where we can definitely bring something to the UK because we have grown so fast and there are areas where we have been able to secure potential market opportunities for UK companies.
“Morocco is the number one country in Africa for the automotive industry, the first country in Africa for aerospace.
“We are also one of the fastest-growing countries when it comes to pharmaceuticals.”
And renewable energy projects between the new nations are already in the pipeline.
The Xlinks Morocco-UK Power Project will see a new electricity generation facility that will be powered entirely by solar and wind energy combined with a battery storage facility.
It will be based in the Moroccan region of Guelmim Oued Noun and will cover around 1,500km2 of land to be connected exclusively to the UK via 3,800km sub-sea cables.
Mr Seddiki said: “Morocco is among the top five most cost-efficient renewable energy producers.
“The quality of wind and solar combined is among the best in the world and the best in Europe, that is a huge opportunity for all countries that are willing to implement a carbon neutral strategy.
Rolls-Royce steps up to save Britain and cripple Putin’s energy grip [REPORT]
nergy crisis lifeline: How to slash YOUR bill by up to £550 [INSIGHT]
Tutankhamun’s ‘dark secrets’ laid bare with ‘shocking evidence’ [REVEAL]
“37 percent of our energy mix comes from renewable energy and our target is to reach 52 percent by 2030.
“We will keep on investing so that will definitely translate to opportunities for players in the UK who are interested.
“UK companies are well-positioned because they have the technology, they have the know-how, and they are willing to collaborate with local companies.”
The agricultural Moroccan-British cooperation is also particularly strong, with foods and vegetables being the number one good being imported to the UK from Morocco, amounting to £312.6million by the end of 2021.
Source: Read Full Article