Argentina Invites Businesses to Join Trade Mission to Morocco to Explore Key Growth Sectors
A statement from the Argentinian Ministry of Foreign Affairs said the multisector trade mission will take place on October 7-8, to enable the country's businesses to explore cooperation with Morocco in various sectors, including software, automotive parts, and pharmaceutical industries.
'Morocco is positioned as a strategic market for the internationalization of Argentine exports, with a steadily growing economy, openness to international trade, and a privileged geographical location that makes it a natural bridge between Europe and Africa,' the ministry said in a statement.
The Argentinian ministry recalled Morocco's assets in the software sector, shedding light on how the country is 'actively promoting digital transformation.'
For Argentina, Morocco presents concrete opportunities in vertical sectors such as AgTech, EdTech, fintech, HealthTech, cybersecurity, and AI.
'In the pharmaceutical sector, Morocco has prioritized the development of its healthcare system and is seeking international partners to strengthen access to medicine and medical technology, creating a favorable environment for Argentine companies specialized in human health,' the ministry said.
For Argentina, Morocco is also an attraction thanks to the industrial sector, especially the automotive and auto parts fields, which are in full expansion.
This opened up opportunities for Argentina's suppliers of components, the statement said, promising potential participants at the trade mission B2B business meetings with local counterparts, as well as a field visit to institutions in the Moroccan business ecosystem, in addition to networking activities.
Data compiled by Argentina's Institute of Statistics and Censuses said in 2023 that trade between the two countries reached $1.5 billion in 2022, with the number showing a 48% increase compared to trade recorded between the two countries in 2021.
Morocco's imports from Argentina amounted to nearly $944 million, an increase of 39% compared to 2021.
Morocco's exports to Argentina, meanwhile, reached $548 million, an increase of over 68% from the same year.
This makes Argentina the third-largest exporter to Morocco after Brazil and Mexico in Latin America, the previous data shows. Tags: argentina and moroccoargentina and morocco trade
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