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Morocco + Japan partner up for potential investments: Morocco’s Investment, Convergence and Evaluation of Public Policies Ministry (MICEPP) signed an MoU with Japan’s Economy, Trade and Industry Ministry to strengthen cooperation in investments, Morocco World News reports.
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The agreement aims to acquire Japanese investments into Morocco’s automotive, renewable energy, aerospace, agribusiness and advanced manufacturing sectors. Morocco plans to attract Asian businesses and investments through their “ Morocco Now ” campaign, according to the newswire.
Japan’s exports are doing well: Exports from Japan to the kingdom reached a value of USD 269.5 mn in 2023, with vehicle exports coming in first place totalling USD 120.2 mn, according to Trading Economics data. Electrical equipment racked up USD 53.6 mn in exports, followed by machinery at USD 24.7 mn all during the same time period.
And Moroccan exports come in higher: Japan’s Moroccan imports stood at USD 298.86 mn in 2023, with a 19.6% y-o-y growth in August 2024 to USD 17.5 mn. The top imports during the period included fish fillets, molluscs, frozen fruit and nuts, clothing, and cobalt, according to recent OEC data.
