1 Jan, 2023 @ 09:00
1 min read

Morocco looks to step up trade with Gibraltar as EU treaty with Spain hangs in the balance

Ferry
Ferry to Morocco Photo from frs.es

MOROCCO could replace Spain as a stronger trading partner for Gibraltar if the EU treaty fails to give any results, a local businessman believes.

The Gibraltar Morocco Business Association is working with the British Chamber of Commerce for Morocco to help increase trade with the Rock’s southern neighbour.

Under the 2019 Post Brexit Association Agreement of Morocco, the third richest country in Africa, signed a business treaty with the UK.

Gibraltar could benefit from the deal, local businessman Joshua Llhote believes.

He took part in a webinar with the British ambassador to Morocco on the subject.

“It is not totally clear how Gibraltar companies can take advantage of the deal,” Llhote told GBC.

“But what he did say is that he is the ambassador for Gibraltar in Morocco and he will be happy to assist in any way he can.”

Britain already had £1.8 billion in trade with Morocco in 2021.

Now a UK company is already looking at ambitious plans to start a renewable energy project that will be transported by 4,000 metre cable from Gibraltar neighbour.

As a tribute to Gibraltar’s relationship with Morocco, the Gibraltar Mint is introducing a coin that celebrates that connection.

The coin depicts a ship crossing across the Straits to resupply the Rock after Spanish dictator Franco closed the frontier in 1969.

“It gave Gibraltar a lifeline,” Llhote added. “So generally Gibraltar has a lot to be thankful for to Morocco.”

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