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Morocco: China 3rd trading partner with $3.22 billion volume

Global Arab Network - - Mohammed Almasri

Monday, 14 February 2011 23:34

Morocco (Rabat) - The Moroccan-Chinese trade relations have witnessed, over the past five years, a significant momentum, enabling China to become the third trading partner of the Kingdom in 2010 with a trading volume of 26.8 billion dirhams ($3.22 billion.

Trade relations between Rabat and Beijing are governed by the trade and economic agreement, signed on March 28, 1995.

According to the Foreign Trade Ministry, this volume represents 6% of trade in goods made by Morocco with foreign countries with 25 billion dirhams of imports from China, that is 8.4% of the kingdom’s total imports, while Morocco’s exports to China have achieved, during the same period, nearly 1.8 billion dirhams, i.e. 1.2% of exports.

According to Morocco's exchange rate monitoring body "Office des Changes", the Chinese exports to Morocco have recorded, over the past five years, a sustained increase from 11 billion dirhams in 2006 to more than 20 billion dirhams in 2009.

This increase is attributed to the rise in exports of “machines and divers apparatuses,” which totaled in the previous year nearly 2.5 billion dirhams, “radio and TV receivers” (2.37 billion dirhams) and “tea” (917.7 million dirhams).

Morocco's exports to China consist mainly of "lead ore", which reached some 547 million dirhams in 2010, followed by “copper waste and scrap» (more than 422 million dirhams) and “natural and chemical fertilizers” (over 284 million dirhams). (MAP)

Global Arab Network

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