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Trade between Russia and Morocco increased by almost 50%

Trade between Russia and Morocco increased by almost 50%

The trade turnover between Russia and Morocco in January-February 2022 increased by almost 50% compared to the previous year, said Russian trade representative in Morocco Artem Tsinamdzhvrishvili.

"The Kingdom of Morocco remains Russia's third largest trading partner among the countries of the African continent after Egypt and Algeria. Exports from Russia to Morocco continue to build up positive dynamics. In January-February, there was a 53% growth," he was quoted as saying by TASS.

According to Tsinamdzhvrishvili, the increase in exports was achieved largely by increasing the supply of Russian meat products, ammonia, coal, as well as the beginning of the supply of Russian semi-finished products of iron or unalloyed steel.

The Trade Representative noted that imports from Morocco also increased by 36%, primarily at the expense of growth in exports of Moroccan citrus fruits (by 52%).

Tsinamdzgrishvili noted that there are certain problems with payment and insurance mechanisms now. However, there are some developments, including the use of financial instruments of third countries, which will allow to solve the issues, he stressed.

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Author: Alexandra ZaslavskayaMade
in Russia // Made in Russia

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