Morocco, from an economic and commercial point of view, offers, thanks to its “unique assets”, many investment opportunities for companies, says the Italian Department of Foreign Affairs on its website dedicated to foreign markets, noting that the economy of the Kingdom is characterized by a high level of openness to international trade, and that Morocco also has infrastructure that meets international standards.
Italian Media: The EU and Italy Should Open Consulates in the Southern Provinces of Morocco
In the Doing Business 2020 report, Morocco was ranked 53rd in the world, with a jump of seven places compared to the previous year, the Italian ministry said, adding that the Kingdom remains in third place in North Africa and the Middle East. Similarly, the same source continues, the business climate and the level of economic openness are positive, both in terms of investment and trade.
As for Morocco-Italy trade, it has been growing steadily in recent years. In the period January-August 2019, Italy ranked fifth among Morocco’s trading partners: Italy is the Kingdom’s fifth supplier (5.3%) and fifth customer (4.2%).
In the first eight months of 2019, exports remained practically unchanged compared to the same period in 2018 with a value of over 1.4 billion euros.
On the other hand, the Italian Ministry noted that imports grew by 5.2% to a value of 786 million euros.
During the same period, the main products exported from Italy to Morocco were petroleum products (15%), machinery (9.7%), fabrics (5.9%), and other general-purpose machinery (5.7%).
According to the same source, cars dominate Italian imports from Morocco with 34.2% of total imports, followed by fishery products (20.9%), parts and accessories for vehicles and engines (14.5%) and clothing (8.2%).
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