In light of shifting sourcing decisions, Morocco, situated on the periphery of the EU, is being considered as an alternative sourcing location by 4% of European companies. In this article, we dive into details of the opportunities that Morocco presents for European businesses, as well as most recent developments that facilitate these opportunities. The missing link for growthIn the landscape of global trade, Morocco is on the way to become a strategic hub of North Africa, currently holding the 5th position among African countries by GDP in 2022. While Morocco represents only 1% of the EU’s total trade in goods, 56% of the country’s exports find their destination within the EU. The diversity of goods exported ranges from manufactures to agricultural products and fuels, making Morocco a potential sourcing destination for multiple European industries seeking cost-effective partners closer to home.
