“Morocco must be put on the radar of the Swiss business community”
SWISSECO: You made an official visit to Morocco, accompanied by an economic and scientific delegation. What were its objectives?
Mr Guy Parmelin: The main objective of my delegation was to discover the Moroccan economic landscape and to assess the opportunities it offers Swiss companies and scientific institutions. Morocco is a geographically close partner that has followed an impressive path of industrialisation and economic development over the last two decades, benefiting from very good infrastructure and marked economic openness, embodied by more than 55 free trade agreements. At bilateral level, the framework conditions are excellent. The task now is to move on to a new stage: bringing the two economies closer together. To do this, it is important for Swiss companies and scientific institutions to come to Morocco, to discover for themselves what Morocco has to offer and to engage with key economic players on the ground. Finally, in an ever-changing world, I also consider it essential to assess ways of optimising the framework conditions, and this is done through frank and constructive discussions with my counterparts in the Moroccan government.
SWISSECO: Switzerland has been one of Morocco’s privileged partners for several years. What opportunities can closer cooperation between the two countries offer?
Mr Guy Parmelin: Economic relations between Switzerland and Morocco have been developing dynamically for several years. In 2022, the bilateral trade volume reached a record level of CHF 780 million. The most important point to note in this respect is that bilateral trade is balanced and diversified. It has been on an upward trend for several years, although there is still untapped potential. The diversified nature of this trade gives us a solid foundation on which this potential can be exploited by Swiss and Moroccan economic players. In addition, many Swiss companies have decided to set up in Morocco. They are active in many fields and very well integrated into the Moroccan ecosystem, generating thousands of jobs. They are actively involved in vocational training on the ground. Given the already close ties, we can say that this work is bearing fruit. I am convinced that, on the basis of this long-term relationship, which benefits from a robust framework, Swiss and Moroccan economic players will continue to create new, mutually beneficial opportunities.
SWISSECO: How do you assess the economic ties between Switzerland and Morocco, and what should be done to further strengthen cooperation between the two countries?
Mr Guy Parmelin: Bilateral economic relations are excellent. We have a free trade agreement, an agreement on the promotion and protection of investments and a double taxation agreement. These ideal framework conditions provide the right incentives for the Moroccan and Swiss business locations and facilitate interaction between them, depending on the opportunities they identify. One of the pillars of Switzerland’s foreign economic policy strategy is strengthening economic resilience by diversifying its partners. Morocco is positioning itself as a potential partner in this regard, thanks also to its geographical location at the crossroads of Europe and Africa, and close collaboration between Morocco and Switzerland can benefit our economic prosperity.
As I said earlier, the opportunities that Morocco offers companies seeking resilience are obvious, but Swiss economic players need to become more familiar with these opportunities. Morocco must be put on the radar of the Swiss business community! Efforts have been made in this regard this year, notably through the visit to Switzerland of the President of the General Confederation of Moroccan Enterprises (CGEM) and the event in Zurich presenting economic opportunities in Morocco organised by the Moroccan Investment and Export Development Agency (AMDIE). My economic mission also goes in this direction. Lasting and prosperous relations can only be built if we become familiar with our partner’s expectations and wishes. Repeated contacts are therefore essential. Better knowledge opens the door to greater engagement between Swiss and Moroccan players.