Morocco Serves as Gateway for Argentina and Paraguay’s Investments in West Africa
Rabat – Morocco holds the keys to connect Argentina and Paraguay to the promising markets of Africa, said Leonardo Marcilio, president of the Argentine-Paraguayan Chamber of Commerce, in Buenos Aires.
“Morocco has become the first investor in West Africa and the second investor at the continental level,” Marcilio told State-owned M24 TV.
Morocco has the keys for Argentina and Paraguay to access these African markets that offer promising opportunities, with about 1.3 billion consumers, he added.
The strengthening of economic relations with Morocco, he said, is done through innovative ways that emphasize the strengths of each country and the opportunities offered by the markets in both respective regions.
“The Chamber of Commerce and other similar bodies in the region are likely to facilitate trade links between the Latin American and African regions,” stressed Marcilio. He added that “Paraguay and Argentina could be the gateway to the Kingdom in the region.”
“It is necessary to work to promote Moroccan investments in the region, especially in Paraguay, which offers significant tax incentives for foreign investment, in addition to its position in the heart of the South American continent, which allows it to have direct access to virtually all countries in the region,” said the binational chamber of commerce president.
Paraguay is now considered a platform for economic cooperation thanks to its political stability, which has made it a model for the region in terms of its ability to open up to the world and find markets outside regional borders, Marcilio concluded.