Daily Times (Pakistan) | 3 August 2007
Morocco invites Pakistan to export textiles under FTA
KARACHI: Pakistani entrepreneurs should take advantage of Morocco’s Free Trade Agreement (FTA) with USA and European Union (EU), particularly in the textile and readymade garments, Morocco Ambassador Mohammed Rida El Fassi said here on Thursday.
In a meeting with Vice-President Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Zubair Tufail, the ambassador said that under the FTA, Morocco has free access of readymade garments to USA, which is a huge market for garments.
In addition, Morocco is geographically closer to Europe, giving it an advantage of easy access and reduced freight charges.
“Morocco is a big exporter of readymade garments to Europe, and that Pakistan companies can share the Moroccan export to Europe,” ambassador said.
The ambassador went on to invite Pakistani companies to set up garment units in Morocco, where even a 30% value addition is acceptable to the European Union.
Consul General of Morocco in Pakistan Mr. Ishtiaq Baig Honorary also gave a briefing on the Morocco market.
Earlier, Vice-President FPCCI welcomed the Ambassador and said that economic relations between Pakistan and Morocco do not reflect their otherwise cordial relations.
He informed that Pakistan’s export to Morocco stands at $11.5 million, whereas import from Morocco was $147 million.
The Vice-President stressed that the private sector of both the countries should come closer to open new possibilities for bilateral trade, and added that the FPCCI would work towards a Pakistan Single Country Exhibition and will send a trade delegation to Morocco.