Lima-based business association COMEX Peru is advocating for a trade agreement between Peru and Morocco to enhance Peruvian exports on a global scale by tapping into Morocco’s existing trade partnerships with Europe, Africa, and Asia. Morocco’s reputation as a trade hub, with agreements in place with various countries including the US, UK, UAE, Turkey, the EU, and several Arab nations, makes it an appealing trade partner for Peru.
Peru has seen some growth in exports to Morocco, particularly in non-traditional products such as ginger, mackerel, quinoa, and avocado, totaling $95 million between 2014 and 2023. However, high tariffs imposed by Morocco, ranging from 2% to as high as 200%, have been a barrier to further export growth.
President Dina Boluarte of Peru has expressed interest in expanding trade agreements, with Morocco being a potential key partner. The Peruvian Association of Businesses highlights the significant growth in Moroccan imports of fruits over the past decade, creating opportunities for Peruvian exporters.
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