India keen to tap Morocco economic hub

The India-Morocco Chamber of Commerce and Industry (IMCCI) was launched by visiting Vice President Hamid Ansari and Moroccan Prime Minister Abdelilah Benkirane at a function here on Tuesday.

Speaking on the occasion, Ansari said that a Chamber of Commerce and Industry did not exist because ‘we took things for granted’.

He said that the world is changing and it has become a globalised world. “We do need bodies like the IMCCI,” he added. “It is a testament to the growing importance of commercial engagement between our two countries,” said Ansari, whose visit marks the first by an Indian Vice President in 50 years to Morocco. He said that the IMCCI should focus on the requirements of both sides.

An official spokesman said that bilateral trade between the two countries stood at USD 1.26 billion in 2015 with Indian exports forming roughly 25 per cent of the trade volume.

He said that Morocco has emerged as a favoured destination for investments by Indian firms, adding that Indian companies have cumulatively invested more than USD 320 million in Morocco, including in the flagship project, the In do-Maroc Phosphore SA joint venture.

The last two decades of economic growth have also strengthened India’s private sector and it is keen to expand its global operations, the spokesman said.

Earlier in the evening, Ansari visited the Mohammed VI Imam Training Centre which promotes the values of moderate Islam and is actively working on ideologies and beliefs.

The Centre trains a large number of preachers from the Arab world besides Africa, including women. Vice-President Hamid Ansari is on a five-day visit to Morocco and Tunisia as part of efforts to build on diplomatic gains from the India-Africa Summit and lay platform for a future partnership. This is the first visit by an Indian Vice-President in 50 years to the two nations.

The Vice-President will discuss with leaders of the two north African countries issues of terrorism, U.N. Security Council expansion and investments in private sector, as well as ways to strengthen outreach to Africa and regional matters. During the visit, a number of MoUs will be signed in areas like education, IT and communication technology sectors, focusing on ‘capacity building and cultural exchange’.

In the second leg of his tour, Ansari will visit Tunisia from June 2-3. This is the first high-level visit to the African country after Prime Minister Atal Bihari Vajpayee went there in 1999.