As part of a historic initiative to strengthen international trade and economic collaboration, the Australia Morocco Business Network (AMBN) has been launched in Adelaide, South Australia, with an aim to open up new business opportunities and strengthen economic ties between Morocco and Australia.
Thanks to this strategic initiative, both countries now have the first platform focused on promoting bilateral trade between Morocco and Australia, AMBN press realse stated.
The launch of the network is all the more important as it coincides with the 25th anniversary of the enthronement of His Majesty King Mohammed VI, making it an auspicious moment to establish Australia’s first platform focused on promoting bilateral trade with Morocco, the same source added.
Leadership and Board of Directors
The newly established network is led by Soufiane Rboub, of Moroccan origin, whose extensive experience includes serving as former President of the Arab Australian Chamber of Commerce and Industry and as a board member of an advisory committee to the Foreign Minister on Arab-Australian relations (CAAR). The President is supported by a distinguished board of directors, composed of members deeply invested in Morocco and Africa, ensuring that AMBN is well-positioned to drive impactful initiatives.
The network launch saw the participation of a number of businesses and government representatives, particularly the representative of Australian Minister for Trade Tally Reaburn and CEO of the South Australian Chamber of Commerce Andrew Kay, as well as other distinguished guests.
Economic and Trade Opportunities
Rboub stated that “the choice of Adelaide, South Australia, for the launch of our network is particularly appropriate, given the shared priorities between South Australia and the Kingdom of Morocco in key sectors such as renewable energy, green hydrogen, water management and mining”.
“As Australia’s driest state, South Australia has developed advanced water resource management, recycling techniques and innovative solutions. This expertise could be highly beneficial to Morocco, which is also facing significant water scarcity issues”, he explained.
Australia’s leadership in renewable energy and green hydrogen aligns perfectly with Morocco’s ambitious plans to increase its renewable energy capacity. Strengthening ties through AMBN offers significant potential for collaboration in these critical areas, which could enhance sustainability and drive economic growth in both regions.
Trends in Bilateral Trade
Trade between Australia and Morocco has been steadily increasing in recent years. In 2022, the total value of bilateral trade reached approximately AUD 250 million, with Australian exports accounting for around AUD 180 million. Australia’s main exports to Morocco include cereals, meat and dairy products, while Morocco primarily exports phosphates, chemicals and textiles to Australia.
The growth in bilateral trade is also supported by the diversification of the sectors involved. In addition to agricultural products and raw materials, trade in services has increased considerably between the two countries, particularly in the education, tourism and professional services sectors. Australian companies have also begun to establish themselves in Morocco to access other regional markets, benefiting from the countr’s strategic location.
Director for the Middle East and Africa at Dragoman Consulting and member of the AMBN Board of Directors Jade Evans stated that “Morocco’s strategic position as a gateway to Africa offers Australian businesses unparalleled access to the continent’s emerging markets.
“Morocco provides a stable and business-friendly environment and is increasingly recognizing the role of women in economic growth. As a woman entrepreneur, I have witnessed firsthand that Morocco’s commitment to fostering a diverse and inclusive business landscape creates many opportunities for innovation and collaboration”, she added.
Free Trade Agreements and Special Economic Zones
Morocco has concluded numerous free trade agreements (FTAs) with international partners, including
the European Union, the United States and several African countries. These free trade agreements offer Australian businesses preferential access to many international markets when they establish themselves in Morocco, making it an attractive gateway for companies looking to expand in Africa and beyond.
By setting up in Morocco’s special economic zones (SEZs), Australian companies can benefit from tax incentives, world-class infrastructure and direct access to foreign markets through Morocco’s free trade agreements. This offers a significant competitive advantage for Australian companies looking to expand into new international markets.
The launch of AMBN also creates new opportunities for Moroccan exporters to penetrate the Australian market. Australia is a growing and diverse market for Moroccan products, particularly food products, textiles and handicrafts. AMBN is committed to supporting these efforts by facilitating contacts with Australian importers, providing market information and facilitating trade missions and business delegations.
Professor Tim Harcourt, Chief Economist at the Institute for Public Policy and Governance (IPPG) at the University of Technology Sydney (UTS) and member of the AMBN Board of Directors, stated that the Australia-Morocco Business Network represents a significant step forward in strengthening economic ties between both countries.
“By leveraging the strengths of both countries, we can open up new prospects for businesses and contribute to the prosperity of our nations”, commended Harcourt who is also a host of the television series “The Airport Economist” and “The Great Transformation”, which reaches over 380 million online viewers worldwide.
The Australia Morocco Business Network is poised to become the leading platform for promoting bilateral trade and investment between Australia and Morocco, highlighted in turn Rboub, noting that through targeted initiatives, strategic partnerships during organized trade missions and comprehensive support, AMBN will enable businesses from both countries to thrive in the global marketplace and looks forward to taking the relationship between the two countries to another level.
The Australia Morocco Business Network (AMBN) is an organization dedicated to promoting bilateral trade between Australia and Morocco. AMBN aims to facilitate economic and commercial relations, offer collaboration opportunities and support businesses in their international expansion.
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