Bangladesh, Morocco discuss free trade deal, urge reducing trade gap

Bangladesh and Morocco have discussed the possibility of signing a free trade agreement to further strengthen bilateral trade ties, while emphasising the need to reduce the large trade deficit between the two countries.

The discussions took place during a meeting between State Minister for Foreign Affairs Shama Obaed and Moroccan Minister of Industry and Trade Ryad Mezzour in Rabat on Tuesday, May 19.

Shama Obaed is currently on a visit to Morocco after concluding a trip to Washington. She will attend the second ministerial conference on peacekeeping in a Francophone environment in Rabat on Wednesday, May 20, while also holding meetings with senior Moroccan officials.

On Tuesday, she also met with Moroccan Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates Nasser Bourita.

Highlighting Bangladesh's improved investment environment, Shama Obaed proposed exchanging business delegations to increase commercial contacts between the two countries. The Moroccan minister responded that his country is keen to send a business delegation to Bangladesh by the end of 2026.

Praising existing partnership in the agricultural sector, the state minister called for further strengthening government-to-government cooperation, particularly focusing on making the supply chain for phosphate imports from Morocco more reliable and effective. This would play a crucial role in ensuring Bangladesh's agricultural development and food security, she said.

She also reiterated Bangladesh's interest in promoting environmentally friendly jute and jute products in the Moroccan market.

Both sides committed to deepening cooperation in innovation, industrial training, information technology and artificial intelligence.

During her meeting with the Moroccan foreign minister, Shama Obaed said Bangladesh, under Prime Minister Tarique Rahman's leadership, is committed to deepening ties with African nations and elevating the partnership with Morocco to new heights of mutual prosperity and strategic cooperation.

Both leaders emphasised the importance of high-level visits to strengthen political relations. Shama Obaed recalled the historic visit of former president Ziaur Rahman to Morocco in 1980 and thanked the Moroccan government for naming a street in Rabat after him.

They reaffirmed commitments to strengthen cooperation in trade and investment, textiles, pharmaceuticals, ceramics, sports, culture, agriculture, education, women's empowerment, shipbuilding, and people-to-people contact. They also agreed to enhance coordinated cooperation in multilateral forums.

Both sides agreed to hold the next Foreign Office Consultations in Dhaka soon to evaluate ongoing cooperation and identify new areas of mutual interest. Shama Obaed also invited Moroccan Foreign Minister Nasser Bourita to visit Bangladesh at a convenient time.

During her visit, Shama Obaed also met with Moroccan Minister of Economic Inclusion, Small Business, Employment and Skills Younes Sekkouri, informing him about the new government's social protection programmes such as the Family Card and Farmers' Card, as well as various development initiatives including canal re-excavation projects.

They discussed expanding cooperation in employment generation, vocational training, skills development, women and youth empowerment, entrepreneurship, and small and medium industries, focusing on knowledge exchange, technical cooperation and institutional partnerships.

Bangladesh Ambassador to Morocco Sadia Faizunnesa and Foreign Ministry Director General (Africa Wing) Abdur Rouf Mandal were present at the meetings.

Current bilateral trade between Bangladesh and Morocco stands at approximately $1.15 billion, heavily skewed in favour of Morocco. Bangladesh exports only $81 million to Morocco while importing $1.07 billion from the country. The proposed FTA is expected to help reduce this significant trade gap.