Bilateral trade activity between Germany and Morocco increased at the beginning of 2022, showing a positive change compared to the previous year. From January to September 2022, German exports to the Moroccan kingdom increased by 30.4%, reaching €2.1 billion compared to the same period in 2021, the German Chamber of Commerce and Industry in Morocco (AHK Morocco) said in a press release.
AHK is the privileged interlocutor in economic relations between Germany and the Moroccan kingdom. The Chamber of Commerce is the main local authority for all matters related to the German-Moroccan market. With more than 700 members, it has been an effective support and accompanying body since 1997. AHK is part of the worldwide network of German Chambers Abroad (AHK), which unites 140 branches in 92 countries. The network advises, assists and represents German companies that want to establish themselves abroad or develop their activities worldwide.
On the other hand, based on data from the first three quarters of 2022, exports from Morocco to Germany are forecast to increase by 28.6% to €1.5 billion, a compelling statistic that shows that despite the significant impact of the Ukraine war in Europe, exports from both continue to increase demand for raw materials.
Thus, the speculative trend of Moroccan exports to Germany is manifested in the increase in phosphate production, as well as in the rising selling prices of natural resources. This is also accentuated by an increase in industrial confidence. These trends remain positive despite the Covid-19 crisis. "Morocco and Germany have a lot to offer each other. Aspects such as nearshoring, sustainable food production and Industry 4.0 represent immense potential," says the President of the German Chamber of Commerce. The financial year 2021/22 is marked by a recovery in foreign trade.
Increases in trade between the two states are also expected. According to the Office des Changes, exports increased by 20.7% in the ten months from January to October 2021 compared to the same period of the previous year. For Andreas Wenzel, CEO of AHK, "2021 was already a record year for trade relations between Germany and Morocco, despite a difficult global context. We are pleased to note that, based on assessments of the first nine months of 2022, we can expect a significant continuation of the increase in trade flows in both directions. This pleasing trend coincides with the strengthening of German investments in our country."
This business trip was marked by the organisation of a conference and a B2B (business to business) event and this, on the initiative of AHK in cooperation with MENA Business. The Market Exploration Programme (MEP) of the Federal Ministry of Economic Affairs and Climate Protection of the Federal Republic of Germany supports initiatives for medium-sized companies, mainly in traditional industrial sectors, recalls the press release. It is committed to supporting companies wishing to enter or position themselves in new foreign markets. In the programme of this event, German and Moroccan companies and partners presented themselves in turn to give an overview of the opportunities present in the German and Moroccan markets.
Subsequently, B2B meetings were organised between German and Moroccan companies and partners in order to promote the establishment of business relations within the mining sector market, involving among others the National Office of Hydrocarbons and Mines (ONHYM), the Federal Ministry of Economy and Climate Protection, the VDMA association and MENA Business.