Moroccan Industry and Trade Minister Ryad Mezzour has said the entrepreneurs of Bangladesh and Morocco should enter into joint ventures in potential sectors.
He has also said Bangladesh and Morocco should enhance the institutional cooperation.
The Moroccan Minister came up with the ideas when State Minister for Foreign Affairs Md Shahriar Alam met him recently at his office.
He highly commended the socio- economic development of Bangladesh noting that Bangladesh's economic progress has set an example for other nations.
The State Minister proposed that given the excellence of Morocco in agriculture, Bangladeshi entrepreneurs may establish contract farming in Morocco with participation of Moroccan agriculture entrepreneurs.
He invited the Moroccan business delegations to visit Bangladesh to identify possible areas of mutual trade and investment.
Shahriar Alam also suggested initiating discussions on a preferential trade agreement with Morocco, said the Ministry of Foreign Affairs on Wednesday.
The representatives of FBCCI commented that there should be B2B contacts between the two countries.
The State Minister also met with Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forests of Morocco Mohammed Sadiki at his office.
The State Minister was accompanied by the Ambassador of Bangladesh in Morocco, officials of the Foreign Ministry and representatives of business manufacturing industries, and chamber representatives including e-commerce, textile and pharmaceuticals sectors.
Shahriar Alam said as a part of developing Bangladesh's relations with the external world, the government of Bangladesh has been enhancing contacts with like-minded countries.
He said the government of Bangladesh is keen to establish contract farming in Morocco as Bangladesh has expertise in the agriculture sector.
The State Minister also sought cooperation with the Moroccan government on blue economy areas, especially, deep sea fishing and long line fishing.
The Moroccan Minister of Agriculture and Maritime Fisheries informed the Bangladesh delegation about the green development plans of Morocco.
He mentioned that the Moroccan government encourages investment in the agricultural sector by foreign countries.
The State Minister proposed that the Moroccan investors can invest in agro processing and agro-food processing sectors in Bangladesh.
He also met with Youssef El Bari, Director General of Moroccan Investment and Exports Development Agency (AMDIE).
He said Bangladesh wants to enhance mutual trade and economic relations with Morocco and pointed out that Bangladesh's trade with African countries is not at a satisfactory level.
The State Minister stated that Bangladesh has excellence and expertise in the readymade garments sector and Bangladesh wants to establish cooperation with Morocco in this particular sector.
He also suggested that Bangladesh's pharmaceutical companies can be allowed to export pharmaceutical products to Morocco and there might be joint collaboration in production of pharmaceuticals.
The Director General of the AMDIE said RMG, pharmaceuticals, automobiles and chemical products are potential sectors of cooperation between Bangladesh and Morocco. He encouraged Bangladeshi investors to invest in Morocco.
The representatives of pharmaceuticals industries stated that Morocco may import more pharmaceutical products from Bangladesh.
The representative of Bangladesh Garments Manufacturers and Exporters Associations invited the Moroccan businessmen to establish a joint venture in the textiles sector in Bangladesh.
Earlier on March 7, the State Minister joined the programme marking the historic 7th March organized at Bangladesh Embassy in Rabat.
END/TDM/MAN
