Morocco expecting 67% increase in auto industry exports
The Arab country’s industry shipped USD 6 billion worth of products last year, but it could see as much as USD 10 billion come 2020.
São Paulo – Moroccan auto industry exports fetched 60 billion dirhams (USD 6 billion) in 2016 and could amount to as much as 100 billion dirhams (USD 10 billion) in 2020, said this Tuesday (28) the Industry and Foreign Trade minister delegate Mamoune Bouhdoud, who’s in charge of small businesses and informal sector integration. He spoke at a seminar on industry investment in Casablanca. The information was made public by Maghreb Arabe Presse (MAP).
According to the minister delegate, the Moroccan auto industry is very dynamic, and one of the pillars of the Industrial Acceleration Plan being rolled out from 2014 to 2020.
The seminar “The Automotive Ecosystem in Morocco: investment opportunities in a growing industry” was held by the Moroccan bank Attijariwafa and by the Moroccan Association for Automotive Industry and Trade (Amica).
The bank’s CEO Mohamed Kettani said the industry is a driver of national economy and helps to make the business environment more dynamic.
Morocco’s auto industry includes international automakers with operations in the country, such as Renault and PSA Peugeot Citroën, as well as auto parts makers.
*Translated by Gabriel Pomerancblum