Lima's COMEX Peru is advocating for a trade pact with Morocco, aiming to utilize Morocco's trade agreements across Europe, Africa, and Asia to expand Peruvian exports. Morocco, with its trade alliances spanning the US, UK, UAE, Turkey, the EU, and various Arab countries, presents a strategic opportunity for Peru.
The Peruvian Association of Businesses highlights Morocco's import growth at an average of 4.8% annually from 2014 to 2023, with a notable increase in fruit imports, including dates, almonds, walnuts, and raisins, from $168 million in 2014 to $604 million in 2023. Despite Peru's $95 million in exports to Morocco over the same period, focusing on products like ginger, mackerel, quinoa, and avocado, high tariffs have restricted market access.
Current Moroccan tariffs on Peruvian imports can range from 2% to 200%. President Dina Boluarte has shown an interest in broadening Peru's trade agreements to include Morocco.
Source: en.hespress.com