Yonhap | 8 April 2025
S. Korea, Morocco seek early start of negotiations for economic partnership agreement
by Kim Na-young
SEOUL, April 8 (Yonhap) -- The top trade officials of South Korea and Morocco on Tuesday discussed ways to launch negotiations for a bilateral economic partnership agreement (EPA) in the near future as part of efforts to boost the countries' cooperation in trade and investment, Seoul's Ministry of Trade, Industry and Energy said.
Industry Minister Ahn Duk-geun proposed commencing negotiations for the envisioned EPA as quickly as possible in a Seoul meeting with his Moroccan counterpart, Ryad Mezzour, according to the ministry.
The countries agreed to push for an EPA during the Korea-Africa Summit, held last year, to strengthen their collaboration on supply chains, digital industry and a broader range of other trade issues.
Prior to signing the EPA, the two countries can also strike a trade and investment promotion framework to swiftly promote cooperation, Ahn said, according to the ministry.
The two ministers also discussed Korean companies' potential investment in Morocco to expand infrastructure ahead of the 2030 World Cup to be held in the Northern African nation, it added.
Ahn told Mezzour the two countries may create a synergy effect in responding to global trade risks and fostering economic growth if they integrate South Korea's capabilities in advanced technologies and Morocco's potential as a regional production hub connecting Africa, Europe and the Middle East.
Recently, South Korean companies have been expanding their presence in Morocco, with Hyundai Rotem Co., the train manufacturing subsidiary of Hyundai Motor Group, winning a 2.2 trillion-won (US$1.5 billion) deal to supply advanced trains to Morocco.
Some auto parts manufacturers have also entered the Moroccan market to manufacture products in the country and export them to Europe.
