Morocco Country Day and Investment Opportunities Seminar was Realized in Istanbul Chamber of Industry-Odakule

• 02.04.2019
• News

Istanbul Chamber of Industry (ICI) organized an event of Morocco Country Day and Investment Opportunities Seminar with the aim of benefiting the business and investment opportunities in Mororro one of the stable economies in Africa. Numerous industrialists and business people, in addition to M'hamed Ifriquine, the Istanbul General Consulate of Morocco participated in the event organized in Odakule in the hosting of Bekir Yelken, the ICI Board of Directors Member and had information about the economical potential of Morocco.

Bekir Yelken, the ICI Board of Directors Member stated that the relation between the two country dates back to centuries and they have a shared history together and he said that they wish to improve the economical relations between Morocco which is the entrance door of North Africa and Türkiye further. Drawing attention that in addition to the close location to Europe, Morocco is the fifth biggest economy of Africa with its 33.5 million population, Yelken stated that Morocco is of great potential for Türkiye with its position as export milestone of Africa. Yelken told that Free Trade Agreement entered into force in 2006 as a result of the shared efforts for signing a Free Trade Agreement which will serve to the interest of both parties and contribute to the increase in the business capacity as well, and the trade volume of two country has increased gradually.

Bekir Yelken, the ICI Board of
Directors Member

When the economical relations between Türkiye and Morocco have been taken into consideration, he said that export for Morocco was carried out for 2 billion dollars in 2018 while import from Morocco was carried out for approximately 720 million dollars. Drawing attention that even though the bilateral trade volume realized for approximately 2.7 billion dollars is an increasing trend, it is much below its actual potential, Yelken expressed that both countries have the shared purpose of increasing the trade volume in a short run further. Stating that automobiles, piston engines, iron and steel are taking the lead in Türkiye’s export for Morocco, Yelken said that Türkiye has carried out import from Morocco for road vehicles, gold, rolled gold, silver and base metal, gold-plated waste product, non-organic chemicals.

Yelken stated that there has been a reciprocal wish in improving the commercial relations with Morocco which is one of the most liberal countries of Africa thanks to the constitutional referendum born by the stable economical growth resulted from the on-going economical reforms. Informing that they will organize a “Sectoral Trade Board” including Automotive and Road Vehicles Sub-Industry Manufacturers for Morocco on 24-27 June 2019 as Istanbul Chamber of Industry, Yelken expressed that they strongly believe in the success of the board and they will create new cooperation opportunities between two countries.

M’hamed Ifriquine,
Consul General of Morocco

M’hamed Ifriquine, Consul General of Morocco who took the rostrum after Yelken stated that the trade volume between the two countries has expanded for 16 percent thanks to the Free Trade Agreement signed between two countries in 2016. Stating that Türkiye is the 13th biggest commercial partner of Morocco, Ifriquine expressed that Türkiye is the country which has recorded the biggest increase in the bilateral trade volume at the same time. Remind that Türkiye is the 13th biggest foreign investor in Morocco, Ifriquine said that the relations between two countries almost date back to 500 years. Stating that Morocco is one of the oldest monarchies in the world, Ifriquine said that the stability in the country is of great importance for the business world as well. Emphasizing that the country is drawing significantly foreign investment, Ifriquine underlined that the country is a partner of various Free Trade Agreements especially with EU and USA.

Gökhan Üsküdar, the Morocco
Old Commercial Counselor

Nahla Benslama, the Business
Development Director of Morocco
Investment and Export
Development Center

Following the speeches, Gökhan Üsküdar, the Morocco Old Commercial Counselor and Nahla Benslama, the Business Development Director of Morocco Investment and Export Development Center told the business and investment opportunities which Morocco provides in details while providing information about the general structure of Morocco’s economy. Özhan Akman, Board of Directors Member and Group Finance Director of Girişim Elektrik, Haluk Giray, Sales and Marketing Director of Sarten Ambalaj and Executive Board Member, Abdülkadir Turan, the Chairperson of Board of Directors of Campak Group shared their investment experiences in Morocco in the panel titled with The Experiences of Turkish Firms in Morocco Market chaired by Mehmet Akif Meral, ICI AU and International Relations Branch Deputy Director. Panelists replied to the questions of the participants.