Ahmed Mukhtar Naqshbandi
His Excellency Mohammed Karmoune, Ambassador of Kingdom of Morocco in Islamabad, Pakistan, during his visit to www.worldecho.net office on Thursday said that if Pakistan focuses on its tourism sector, it can earn like European nations are benefiting from this sector.
He said that the potential of Pakistan tourism sector was immense and it should be exploited seriously. Morocco is ready to extend any help and support in this regard. He said that during this flood issue, Morocco also supported Pakistan through central bank payments.
He also said that tourism is also a key sector in Moroccan economy, and as per Morocco’s government vision 2030, the target of tourists visiting Morocco is 40-50 million, which is now 20 million tourists annually. Tourism is a key sector of economy in Morocco apart from phosphate minerals.
FPCCI Delegation Heading to Morocco
World’s 70% of the phosphates are found in Morocco, says HE Mohammed Karmoune.
A business delegation of FPCCI is visiting Morocco on 15-19 January, 2023. The last delegation went in 2019, this will also open new ways of cooperation among the two states. He also said the enhance the cooperation there are efforts for some high-level meetings.
Morocco is gateway to EU and Africa and there are free trade agreements with USA and EU, so Pakistani investors and traders can get benefit from these.
Solar plants are also growing there are 3 operational and 2 in process, which can also lead the way for future business cooperation.
Worldecho.net management including CEO AMjaz Aziz Malik and Director News Naved Miraj congratulated the HE Ambassador on huge performance of Moroccan football team in the FIFA world Cup.
His Excellency also briefed about the phosphate plant and investment between the two nations.
Pakistan Maroc Phosphore
He said, a $ 250 million equal joint venture is Pakistan-Maroc Phosphore was a joint venture with Office Cherifien des Phosphate (OCP), a Moroccan government owned organiztaion entrusted since 1921 and the biggest industrial group of Kingdom of Morocco with doing management of all the phosphate reserves of the Kingdom of Morocco.
Phosphoric Acid, which is being the key raw material for DAP production (fertilizers), is being imported from Morocco. DAP is hugely used in crops for fertilizers in Pakistan farm sector.
He also told that to ensure the continuous supply of this strategic raw material to run our DAP plant at Karachi, OCP and the Fauji Group (Fauji Foundation, FFC and FFBL) entered into a joint venture for its uninterrupted supply.
The company, named as Pakistan Maroc Phosphore S.A (PMP) was formed at Morocco with a paid up capital of 800 million Moroccan Dirhams ($ 250 million).
Established at Jorf Lasfar, OCP’s phosphate hub in Morocco, the project was successfully completed in record time and within the budget. Commercial production and shipment to FFBL started in April 2008 and May 2008 respectively.
It was formally inaugurated by King Mohamed VI of Morocco. Plant is designed to produce 375,000 MT per year of Phos acid thus meeting the total requirement of DAP plant of FFBL. Surplus acid is sold in the international market. PMP also entered into a Cross Tolling agreement with OCP, in order to utilize access capacities, when available, said the Ambassador.
He also said that in 2012 PMP initiated a project whereby the Phosphate Rock Handling Facility was to be replaced by Phosphate Slurry Handling Facility with Project Cost of 125 million Moroccan Dirhams (US$ 15.5 million. The project has been completed with achievement of desired results at a cost of 125 million Moroccan Dirhams (US$ 14.28 million).
PMP is also carrying out Sulfuric Acid plant revamp project at a cost of US$ 12 million in order to increase Phosphoric Acid plant design production from 375,000 MT per year to 425,000 MT per year and Sulfuric Acid plant design production from 1.125 million MT per year to 1.353 million MT per year.
Bilateral Trade and Business
Pakistan’s exports to Morocco are $ 38.9 million with major exported items are textile, woven cotton, rice and others, while Pakistan imports from Morocco are of $ 318 million including phosphoric acid, calcium phosphate mixed mineral and fertilizers.
Pakistan’s population is 220 million and Morocco’s population is 38 million, while GDP of Pakistan is $ around $ 300 billion and the Morocco’s GDP is $ 115 billion. The GDP Per Capita of Pakistan is $ 1500and Morocco’s GDP per capita is $ 3059.
