Morocco Emerges as Key Economic Partner for EU Amid Global Supply Chain Shifts

The analysis of the "Il Giornal" press group is based on the geographical position and the efficient industrial structures of the kingdom which allow it to establish itself as the best alternative for the European Union. Also referred to as "Inside Over", this study highlights the attractions and advantages for Europe of closer economic cooperation with the Kingdom. This cooperation with Morocco, assures "Il Giornal", "allows the Old Continent to reduce its dependence on other international markets".

The most illustrative example comes from the supply crisis suffered by Europe for several months, due to the pandemic situation of Covid-19. The European Union has realized that it was detrimental for its countries to "base their imports almost exclusively on Beijing", because this situation generates "a myriad of complications", notes the media. The author of the analysis observes that "discussions have intensified on the shortcomings of globalization and how it has developed over the past 50 years", from the first days of the health crisis. To this end, "several voices have stressed the need for change". Faced with this situation, the analysis of "Inside Over" suggests that "the important thing is to have a diversified portfolio when going through crisis periods (…)" and "during periods marked by greater uncertainty", this, in the field of financial investments as well as in that of the real economy.

According to the newspaper, Morocco offers more advantages to Brussels, compared to other Asian economic powers, particularly in terms of "trade collaboration scenarios". Indeed, "with Rabat the dialogue channel has just opened, and it could lead to benefits that the European Union cannot underestimate". An analysis shared by "Deutsche Welle" which recently stated that "Morocco certainly has a production system based on higher costs compared to the Asian market, but it benefits from a geographical proximity capable of reducing supply times". Furthermore, other assets of the kingdom are highlighted, namely its industrial structures decidedly more in line with European standards (factories powered by renewable energies and with less environmental impact), which make its market to the liking of the green movements of Europe".

"The enormous benefits brought by Morocco would be indispensable if a pandemic crisis like last winter’s, where the lack of medical devices has put the European health system in crisis, were to recur, as many fear in scientific circles," notes the same source, adding that "In the coming weeks, Europe and Morocco decision-makers will meet to define special trade agreements aimed at promoting economic collaboration.