State Secretary Herkes: German-Moroccan Joint Economic Commission is an important milestone to deepen bilateral economic relations
In Berlin State Secretary in the Federal Ministry of Economics and Technology Anne Ruth Herkes today signed the German-Moroccan agreement to establish the Joint Economic Commission together with Morocco's Minister of Industry, Abdelkader Amara. The establishment of the Commission was initiated by Federal Chancellor Dr. Angela Merkel and King Mohammed VI of Morocco.
State Secretary Anne Ruth Herkes said: "The signature of the agreement is an important milestone to deepen the German-Moroccan economic relations. Our common goal is a partnership on equal terms. The Joint Economic Commission opens up new cooperation opportunities for the companies of both countries. German products and services have an excellent reputation in Morocco. At the same time, the Moroccan economy is characterized by a comparatively high level of economic freedom in the region and dynamic entrepreneurship. The enormous development potential of the Moroccan market remains to be fully tapped especially by small and medium-sized enterprises."
Within the framework of the Commission government representatives and representatives of the private sector and of other institutions will in future discuss possibilities to expand the economic relations. The first session of the Commission is planned to be held in Berlin as soon as possible - in the second half of the year 2012.
Especially the areas pointed out in Morocco's economic plans offer new opportunities for German companies; these include renewable energies, environmental protection (inter alia waste management and water supply), tourism (i.a. the construction of hotels) and infrastructures (i.a. the expansion of roads, ports and railways). An energy partnership with Morocco that is planned to be concluded this year offers additional possibilities for economic cooperation.
The bilateral trade volume in 2011 totalled approximately 2.27 billion euros (in 2010: 1.97 billion euros). German exports rose by 10.7 % compared with the previous year to about 1.52 billion euros (especially mechanical engineering, motor vehicles, electrical engineering products). German imports grew by 21.4 % to approximately 743 million euros (in particular food, textiles, clothes and chemical products).