India, Morocco sign MoU to enhance cooperation in MSME Sector

India and Morocco on September 26, 2018, signed a Memorandum of Understanding (MoU) for deepening cooperation between Micro, Small and Medium Enterprises (MSME) sectors of the two countries. The MoU was signed by Ravindra Nath, CMD of National Small Industries Corporation (NSIC), and Rabri Barrazouka, Director General, Maroc PME of Morocco in Rabat, Morocco. The MOU will facilitate the transfer of Indian technologies and products to Morocco.

The MoU was signed during the bilateral meeting between India and Morocco. Alka Arora, Joint Secretary in the Ministry of MSME, led the official delegation along with CMD NSIC to Morocco and held bilateral meetings with Othman El Ferdaous, Secretary of State in the Ministry of Industry, Investment and Trade and Digital Economy of Morocco.

Both the sides discussed the ways and means to synergise the strengths of both countries in MSME Sector in terms of capacity building, sharing of experiences, exchange of business delegations for creating linkages, JVs and technology transfers.

Key Highlights:-

1. Morocco mainly relies on its exports of minerals and ores and Service sector. It has very small MSME sector in manufacturing, whereas India has strong MSME sector especially in manufacturing.
2. Over the years, India and Morocco have enjoyed cordial and friendly relations and bilateral relations have witnessed significant growth.
3. India is one of the major markets for Moroccan phosphate and its derivatives.
4. An India-Morocco joint venture in the fertilizer sector in Morocco, called IMACID, was set up in November 1999. At present, the JV is producing around 430000 MT per annum of phosphoric acid, nearly all of which is imported by India.
5. The Moroccan phosphate company, OCP, has invested in Paradip Phosphates Ltd. in India.
6. Other main items of export to India are metallic ores and metal scrap, semi-finished products and inorganic chemicals.
7. The main items of India’s exports to Morocco are cotton yarn, synthetic fibre, transport equipment, pharmaceuticals, agricultural implements, chemicals, spices and manufactured metals.

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