Viet Nam’s exports to Morocco double
Viet Nam exported over 19.3 million USD worth of products to Morocco in the first six months of this year, double the figure of the same period last year, according to the Viet Nam Commerce Office in Morocco.
The major export items to Morocco included coffee (8.8 million USD), colour TVs (5.1 million USD), computer components (1.4 million USD), and footwear (1.2 million USD). However, Viet Nam’s goods accounted for 0.14 percent of Morocco’s total imports.
During the period, Viet Nam imported products worth 538,400 from Morocco, mostly scrap iron (225,000 USD) and sports shoes (114,000 USD), the office added.
They noted that Vietnamese exports to Morocco were erratic and undiversified, mostly agricultural products and consumer goods of low value, while imports were almost non-existent.
Experts with the Trade Ministry said that Morocco is a major potential market for Vietnamese goods, as there is a huge demand for popular products at reasonable prices. Besides, it also had its advantageous products, especially fertiliser. Thus, there are opportunities for the two countries to exchange consumer goods and commodities.
They also suggested that cotton yarn production, seafood processing, auto assembly, shipbuilding, real estate and tourism are promising sectors for Vietnamese investment in Morocco.
Since April 2006, the Viet Nam Office of Commerce in Morocco has displayed product samples for export from Viet Nam at the showroom in the office’s headquarters to introduce Vietnamese products to Moroccan businesses.
Governments of the two nations are negotiating bilateral agreements on double taxation avoidance, as well as investment protection and incentives, which could lay the foundation for improved trade ties between the two countries in the future.
Furthermore, Morocco plans to reduce import taxes by the end of the year and streamline customs procedures, which could create more favourable conditions for the import of products from other countries, including Viet Nam.- (VNA)
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