Thursday 25 May 2023 – 07:08
The immediate results of the resumption of bilateral relations between Morocco and Germany in December 2021, after a period of diplomatic stalemate, began to emerge as a result of the increase in the volume of trade exchanges between the two countries to 1.5 billion euros during the first quarter of the current year, an increase of 32.6 percent compared to the same period last year.
According to a communication by the German Chamber of Commerce and Industry in Morocco (AHK), quoting the latest figures from the Association of German Chambers of Industry and Commerce (DIHK), that during the same period the Kingdom ranked 53rd among the countries that exported the most to Germany, as the latter imported a total of 691 million euros from Germany. Morocco, with an increase of more than 36 percent compared to the same period in 2022.
Concerning German exports to Morocco, the same source indicated that they also witnessed a significant increase, reaching a total of 874 billion euros during the first three months of 2023, with a growth rate of about 30 percent compared to last year, which qualified the Kingdom to rank fifty among the countries importing from Morocco. Berlin.
These figures reflect, according to the communication, “the dynamism witnessed by the economic cooperation between the two countries and the positioning of Morocco as an important economic partner for the Federal Republic of Germany,” which opens new horizons for investment between the two economic partners.
The communication quoted the Deputy Director General of the German Chamber of Commerce and Industry in Morocco, Claudia Schmidt, as saying that “German direct investments in Morocco amounted to 1.5 million euros in 2021, an increase of more than 25 percent compared to the previous year,” adding that “the Kingdom occupied the year It ranks 57th in the global ranking of Berlin’s economic partners.
It is noteworthy that the volume of Morocco’s trade exchanges with Germany in 2022 amounted to about 5 billion euros, surpassing both Tunisia and Algeria, which ranked 58th and 62nd, respectively, last year, so that these figures reflect the desire of the two countries to raise their economic partnership to high levels and to All levels.