TRADE and investment relations between the Kingdom of Morocco and Tanzania have continued to flourish.
Ambassador of the Kingdom of Morocco to Tanzania, Mr Zakaria El Goumiri, revealed on Monday that more traders and investors from his country seek information on the investment opportunities as well as products in Tanzania with potentials of being traded to the Northern part of Africa.
The ambassador made statement in Dar es Salaam during an interview with the journalists over bilateral relations between the two countries.
He said the primary goal of his country was to effectively trade with fellow African nations, Tanzania among them for attaining a common end.
“Trade between Tanzania and my country has almost doubled in the past five years. This shows a positive image for the future growth,” said the envoy and added: “I receive calls from companies and individuals wishing to explore business and investment opportunities in Tanzania,” he said.
He noted that agricultural products like fruits, cashew nuts, and fibers made from sisal are the main commodities traded to Morocco.
Other areas of increasing trade according to him was the financial sector through the Morocco headquartered Bank of Africa (BOA) which has 19 branches scattered in different parts of Tanzania.
The Moroccan-based OCP Group which processes fertiliser has already opened its office in Tanzania, while the plan is to establish a fertiliser manufacturing factory and start training local farmers on how to improve crop yields through using scientific farming methods.
“Morocco looks forward to increase fertilisers production so as to reduce demand and prices in Tanzania and African continent at large as a way of assuring food security on the continent. This sector forms an important part of meeting food needs and producing raw materials for industries,”
On the other hand, Ambassador Goumiri said his country has about 12,000 scholarship opportunities for Tanzania and other sub-Saharan countries students to access higher education in his country to sharpen skills needed to run the economy.
He said investors from his home country were more attracted following President Dr Samia Suluhu Hassan’s efforts to boost economic diplomacy and open up the country, a move which allows trade and business activities to thrive.
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