Morocco - Paraguay: towards a closer economic partnership

Mr Moulay Hafid Elalamy, Minister of Industry, Investment, Trade and Digital Economy, met at the ministry’s headquarters in Rabat, on Thursday 1st March 2018, with Mr Gustavo Leite, the Paraguayan Minister of Industry and Trade, as part of the working visit that the latter is making to Morocco from 1st to 4th March 2018 at the invitation of Mr Moulay Hafid Elalamy..

The meeting was an opportunity to discuss the bilateral partnership prospects in the areas of industry and trade. In this regard the two parties agreed on the need to give a new impetus to the trade relationship between Morocco and Paraguay, whose very modest total volume remains well below the real potential of the two countries..

The volume of bilateral trade was less than 12 million dollars in 2016, putting Paraguay in 107th place for trade with Morocco..

In order to boost the economic partnership and boost trade between the two countries, it was agreed to facilitate the building of relationships between the business communities of the two countries and to identify opportunities and synergies to be exploited by both sides, in particular in the agro-industrial sector, the main industrial sector in Paraguay, which accounts for nearly 70% of the country’s exports.