Morocco, Korea move toward new Economic Partnership Agreement
Casablanca — Morocco and Korea have taken a new step toward strengthening their economic ties, following talks held Thursday by videoconference between Secretary of State for Foreign Trade Omar Hejira and Korean Minister of Trade, Industry and Energy Kim Jung-Kwan.
The two officials agreed to establish a working group tasked with continuing and deepening exploratory discussions ahead of the possible launch of negotiations on a new Comprehensive Economic Partnership Agreement between Morocco and the Republic of Korea.
Speaking during the meeting, Kim Jung-Kwan welcomed the signing of a joint declaration formally creating the group.
“Today marks a decisive step in the bilateral relations between our two countries. We have officially signed the joint declaration establishing a working group dedicated to promoting the economic partnership between Korea and Morocco,” he said.
According to the Korean minister, a future bilateral agreement could boost trade and investment flows between the two countries and help elevate their relationship to a comprehensive economic alliance.
He said the institutional framework of such an agreement would help accelerate and diversify cross-border investments in strategic, high-value sectors, including electric vehicles, batteries, shipbuilding, and the defense industry.
Kim also pointed to opportunities for deeper cooperation in mobility and advanced battery supply chains, while opening new prospects for partnerships in shipbuilding, renewable energy, aerospace, and defense technologies.
For his part, Hejira said Morocco attaches particular importance to launching discussions to conclude the agreement, while taking into account strategic considerations that preserve the interests of the two countries.
“We consider this initiative a strategic step capable of opening a new chapter in our economic relations and creating a modern, balanced, and mutually beneficial framework for our economic operators,” he said.
Hejira added that Morocco is ready to approach the discussions in a constructive and pragmatic spirit, while ensuring that its economic and industrial development priorities are taken into account.
He said Morocco wants the agreement to support not only trade facilitation but also productive investments, technology transfer, innovation, industrial cooperation, and the upgrading of both economies.
The meeting also pointed to what both sides described as strong potential for cooperation in high-value industrial sectors, innovative technologies, renewable energy, electric mobility, and value chains linked to the energy transition.
The initiative reflects the shared ambition of Rabat and Seoul to give fresh momentum to their economic partnership through a modern cooperation framework focused on productive investment, technology transfer, industrial integration, and stronger bilateral trade.
