Trade ties between Morocco and Viet Nam have seen substantial development during the past several years, although there is still huge potential to boost two-way trade even further.
HA NOI —
The comments were made by representatives from the two countries at a meeting yesterday to celebrate the 50th anniversary of bilateral relations.
Recent visits of the two countries' leaders, including that of Moroccan Prime Minister Abbas El Fassi in 2008 and then Prime Minister Phan Van Khai's visit to Morocco in 2004, have bolstered ties between Viet Nam and Morocco, according to Do Ba Khoa, chairman of the Viet Nam Union of Friendship Organisations.
He said economic and trade relations between Viet Nam and Morocco had gained remarkable achievements.
"In particular, two-way trade turnover in 2010 reached US$32 million," said Khoa.
"The establishment of the Viet Nam-Morocco Joint Committee in 2008 and numerous talks and conferences on trade and economic co-operation are among the efforts we have made to boost two-way trade."
Moroccan Ambassador to Viet Nam El Houcine Fardani said that despite the successes, trade exchange had not yet met the expectations and potentials of the two countries.
"There are obstacles to expanding trade between Viet Nam and African countries such as the geographical distance, high import taxes and inadequate links between banks that can facilitate payments and transactions," he said.
"But these obstacles should not divert us from our goal to develop our relations both in trade and in technical co-operation and education, as there is actually a real potential to be exploited.
"We believe that the business communities in both countries should play a greater role in developing trade."
The ambassador also called on the Vietnamese business community to consider the Moroccan market for investment, especially that Morocco has initiated major structural projects for the modernisation of key economic sectors.
The Viet Nam-Morocco Friendship Association and its counterpart in Morocco would be established later this year, said Fardani.
Trade representatives at the meeting also said the two countries hoped to boost collaborations in tourism and cultural and youth exchanges. — VNS