KARACHI, Feb 3: Moroccan Trade Minister Mustapha Mechahoure has said that his country wants to develop bilateral trade ties with Pakistan and seeks joint ventures in agro-based industry
, information technology, pharmaceutical, tourism and fertilizers with Pakistan's private sector.
"Morocco gives preference to textiles and offers potential to the Pakistani textile sector for the export of textile items worth $1.2 billion under free trade agreements (FTAs)," the minister said.
Talking to members of the Site Association of Industry here the other day, Mr Mechahoure said Morocco had signed FTAs with Turkey, the EU, the US and Arab countries to acquire market access in these countries and promote bilateral trade, says a press release of the association.
The Site body chief said that it was heartening to note that trade between the two countries was improving gradually, yet the trade volume of $77 million was not reflective of the gravity of the relations.
At present Pakistan is facing trade deficit of $45 million that is mainly due to import of sulphuric acid and organic chemicals. The list of export items from Pakistan to Morocco is very much confined as compared with the potential available, he said.
He added that since long there has been no exchange of trade delegates between the two countries. He proposed frequent visits of trade delegates on reciprocal basis.
