Seoul: Morocco’s push to become an international trade hub, driven by major national port initiatives, creates opportunities to expand economic cooperation with Asian countries, including South Korea, its top envoy to Seoul has said. Moroccan Ambassador to South Korea Chafik Rachadi made the remarks as he highlighted that Morocco’s geographic advantage, positioned between Europe, Africa, and the Middle East, makes the country an ideal commercial foothold for businesses.
According to Yonhap News Agency, Rachadi emphasized Morocco’s strategic location as a key player in international trade, offering easy access to markets in Europe, the Americas, and Africa. He pointed out Morocco’s proximity to the Mediterranean Sea and the Atlantic Ocean, which enables it to serve as a gateway for trade between these regions and Asia. Rachadi cited the landmark Tanger Med and the Dakhla Atlantic Port project as crucial steps toward transforming Morocco into a logistics and industrial hub.
Tanger Med, a major industrial port
complex in northeast Morocco, situated just 14 kilometers from Spain’s coast, is set to expand its capacity to handle over 10 million containers in 2024, showing a 19 percent increase from 2023. The Dakhla Atlantic Port project aims to build a massive port complex by 2028, including a trade port, a fishing port, and an industrial logistics zone, which is expected to significantly boost trade across Africa and beyond.
Rachadi also highlighted Morocco’s vast natural resources, including 70 percent of the world’s phosphate reserves and substantial cobalt reserves, essential for various industries. Morocco’s commitment to renewable energy, particularly solar and wind power, presents another avenue for cooperation with South Korea, not only bilaterally but also within a tripartite framework involving the broader African region.
Morocco is strategically leveraging its assets to attract investment and strengthen economic ties with Asia, including South Korea. Rachadi described the bilateral relations between Seoul
and Rabat as a “solid and enduring friendship,” marked by official visits and diplomatic exchanges, including the first-ever summit between South Korea and African nations hosted by Seoul last June.
The recent announcement of South Korea’s Hyundai Rotem securing a US$1.5 billion contract with Morocco’s national railway operator, ONCF, represents a significant milestone in the two countries’ partnership. This deal, the largest ever secured by Hyundai Motor Group’s train manufacturing unit, involves supplying ONCF with double-decker electric trains ahead of Morocco’s co-hosting of the 2030 FIFA World Cup. The agreement was supported by the South Korean government’s low-rate loan program aimed at infrastructure projects in developing economies.
Looking ahead, Morocco remains committed to enhancing its ties with South Korea, fostering sustainable development, innovation, and mutual prosperity for both countries. Rachadi, who has served as Morocco’s top envoy in Seoul for nine years, also holds the roles of dean
of the diplomatic corps and the dean of the African group of ambassadors in South Korea. He plans to collaborate with African neighbors’ ambassadors to implement key commitments from the South Korea-Africa summit, exploring areas of cooperation that align with Africa’s priorities and Korea’s strategic interests.