Morocco impressed by Sri Lanka apparels

Wednesday, 24 July 2013 00:00 - - {{hitsCtrl.values.hits}}

Morocco, the emerging North African aeronautics supplier and the second biggest apparel maker in North African region, is highly taken up by the ‘Made in Sri Lanka’ apparel brand. “Your apparels are so good! I always remember to pick up a Sri Lankan made high quality coat or clothes in Bloomingdales whenever I shop there,” said an excited Larbi Reffouch, the Moroccan Ambassador to Sri Lanka last week.

Reffouch was addressing Minister of Industry and Commerce Rishad Bathiudeen on 10 July at the EDB premises in Colombo during his courtesy call on Minister Bathiudeen. Also present along with Minister Bathiudeen were Secretary, Ministry of Industry and Commerce Anura Siriwardena and EDB Chairman Bandula Egodage and officials of Department of Commerce. According to the Department of Commerce, Sri Lanka exported tea, coir products and rubber-based products to Morocco while spices and precious stones have been imported in small quantities to Sri Lanka from Morocco. For the past few years, Sri Lanka has been reporting a favourable trade balance in its bilateral trade with Morocco, and in 2012, the total trade volume stood at $ 2.06 million, of which $ 1.71 million consisted of exports. Reffouch also revealed that Morocco is eager for closer trade and industrial cooperation with Sri Lanka. “We are the second biggest apparel supplier in the North African region, helped by no less than our bilateral FTA with the USA and we are also located very close to EU markets; only eight miles away from Spain and just one hour by ferry to Southern Spain,” saidReffouch, and added: “We know Sri Lanka and we have strong historic relations and Moroccan explorer Ibn Batuta’s visit to Sri Lanka is known by most Lankans in general. We need to expand our bilateral trade as well as our industrial cooperation. Investors from both countries can also enter into joint ventures in many sectors; we are strong in rubber and fisheries technology that Sri Lanka can benefit from us considerably and money is no problem!” The World Economic Forum said that Morocco is the best performing economy in North Africa in 2013. Morocco is also the biggest holder of phosphate reserves in the world. Minister Bathiudeen said: “We welcome your new initiatives in Sri Lanka. Our bilateral trade standing at $ 2 million shows huge unrealised trade potentials in future that we can jointly explore.” Minister Bathiudeen added: “Under the economic vision of President Mahinda Rajapaksa, we have taken several initiatives in export market diversification and as a result, we see new market potential in your country. In fact, we are virgin markets for each other. I also invite capable Moroccan investors to Sri Lanka’s apparel sector for synergies; we are well known around the world for our high quality and you are the second biggest apparel power in North Africa. On the other hand, we are closer to East Asian hubs. I also invite a strong Moroccan delegation for the forthcoming CHOGM trade fair in Colombo.” Also present during the session were Secretary, Ministry of Industry and Commerce Anura Siriwardena and EDB Chairman Bandula Egodage.