ABCC Activities
Ambassadorial e-Roundtable on Morocco Highlights New Opportunities for Investors The Arab British Chamber of Commerce, in association with The Embassy of the Kingdom of Morocco in London, held an Ambassadorial e-Roundtable for Morocco on 9th April 2021.
The keynote speaker at the webinar was His Excellency Mr Abdesselam Aboudrar, the Ambassador of the Kingdom of Morocco in London, who provided a detailed briefing on the latest opportunities for investors in the Kingdom. The proceedings were viewed online by hundreds of delegates worldwide. The event was chaired by The Rt Hon Baroness Symons of Vernham Dean, Chairman of the ABCC, who opened the discussion by describing Morocco as a gateway country to Africa and the Middle East.
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Speaking of the impact of the global pandemic on trade and the economy, Baroness Symons praised the kingdom’s response to the pandemic including its successful Covid-19 vaccination programme. She remarked that Brexit had led to the UK and Morocco signing a continuity trade agreement and that the UK now had the opportunity to discuss trade relations bilaterally without the constraints of European Union obligations. In welcoming remarks, Mr Bandar Reda, Secretary General & CEO of the ABCC, warmly thanked the Ambassador for his
consistent support for the work of the Chamber and expressed the Chamber’s commitment to supporting bilateral trade and companies seeking to do business. The Chamber was ready to play its role in assisting traders and investors on both sides in making the most of the new opportunities waiting to be tapped. Mr Reda pointed to the plans to open up a new direct shipping route between the UK and Morocco, which he said would boost bilateral trade and lead to a reduction in journey times by bypassing the EU. H E Mr Abdesselam Aboudrar began with comments concerning the general position of Morocco that made it an attractive destination for investors, such as its well-deserved reputation for stability, openness and rule of law guaranteed by its progressive constitution. The kingdom’s stable and diverse economy had achieved a sustained high rate of growth over several years, the ambassador remarked. The country’s strategic location meant that it acted as a crossroads for trade flows across continents. The news of the new direct shipping route between the British port of Poole in Dorset and Tanger-Med in Morocco was a very welcome development that would boost trade between the two countries, although no date had yet been announced of its opening. The Ambassador stressed that Morocco had been proactive in its organised response to the pandemic and imposition of a lockdown to safeguard the population and its economy. Coupled with its vaccination efforts, the response had brought Covid-19 under control but the public authorities remained alert to the threat of a renewed wave. Prospects were good for Morocco to achieve growth exceeding 4% this year despite the continuing pandemic. According to Standard & Poor’s, Morocco posed a very low security risk for investors and offered several attractive features, not least of which was its modern infrastructure. Preeminent among this is the Port of Tanger Med which was an international hub and free zone where there were no restrictions on foreign investment.
