Morocco is one of the top five countries that is reaping the benefit of global trade disruptions resulting from the COVID-19 pandemic and the reshuffling of supply chains due to US-China tensions, reported US business news outlet “Bloomberg.”
Along with Poland, Vietnam, Mexico, and Indonesia, Morocco has experienced increased economic activity amid escalating tensions between the United States and China, as well as the pandemic’s repercussions on global supply chains which have led to increased trade and the attraction of new investments, reflecting the shifting trade dynamics and opening new opportunities.
Bloomberg highlighted the five countries’ stronger positions in selling goods and attracting investments from various sources in a world characterized by noticeable international divisions.
While these five are not the only ones that have benefited from such geopolitical shifts, they are the most prominent.
Since the COVID shutdowns and supply chain disruptions, trade and investment flows have evolved in a multifaceted landscape involving an increasingly diverse array of trading partners.
In comparison with other countries, Morocco grew its industrial exports by 25% in 2022 compared to the global trend. Additionally, Morocco’s share of global investments in Greenfield Investment increased by 20% in the nine-year period between 2013 and 2022 over the same period between 2003 and 2012.
Greenfield Investments are foreign direct investment strategies where companies relocate their industries, services, and facilities from one country to another, allowing them to benefit from the advantages provided by the host country while reducing costs and retaining control over business operations.
Increasingly, Western investors are relocating their investments from China to other countries, enabling companies to establish operations in nations that function as “global economic connectors,” according to Bloomberg.