business
Maroc-Philippines trade growth sparks new economic opportunities
The Philippine ambassador to Rabat has highlighted a significant surge in bilateral trade over recent years, noting a 50% increase in exchanges between the two nations. While promising, these figures still fall short of full potential according to both sides.
The foundations of Maroc-Philippines relations have strengthened over five decades, built on strategic collaboration and mutual respect. Philippine ambassador to Rabat Leslie Baja celebrated this milestone, emphasizing how mutual visits, agreements, and deep human connections have created solid groundwork for the next fifty years of partnership.
In discussing economic ties, Baja pointed to a remarkable 50% rise in bilateral trade over recent years. Though this surge signals progress, both nations believe there is substantial room for further growth.
The ambassador highlighted the complementary strengths of the two countries: Maroc as a gateway to africa and europe, and the Philippines as a key player in the Association of Southeast Asian Nations (ASEAN). These positions open doors for enhanced economic cooperation in sectors like agro-industry, aerospace, electronics, and textiles.
He also noted the Philippines’ role as a major importer of moroccan phosphate, underscoring the importance of resource-based trade.
Looking ahead, Baja praised the 2023 sectoral partnership agreement between Maroc and ASEAN, calling it a game-changer for regional collaboration. He drew parallels with ASEAN’s integration model, suggesting it could inspire africa’s regional stability and economic resilience.
«Regional integration will strengthen africa economically, politically, and socially, paving the way for a more stable, resilient, and culturally vibrant continent», he remarked.
On the Western Sahara issue, Baja reaffirmed the Philippines’ support for Maroc’s autonomy plan, calling it a credible foundation for resolving the dispute. He cited United Nations Security Council Resolution 2797 as a turning point, expressing optimism about the political process under UN guidance.
The ambassador also announced the upcoming launch of a book documenting fifty years of Maroc-Philippines relations. This publication aims to honor the historical ties and contributions of both nations in fostering mutual understanding.
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