N morocco profile

Morocco Investment & Trade Analysis

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CONTENTS

Country Snapshot ............................................................................................................................................................................3

Investment Prospects & Highlights ..........................................................................................................................................4

Select Investment Highlights ..................................................................................................................................................4

Investment Prospects and Recent Macroeconomic Developments ...................................................................5

Investment Highlights ................................................................................................................................................................7

Sectoral Investment opportunities ......................................................................................................................................8

Initiatives to foster Investment & Trade ..........................................................................................................................9

Key Investment Performance ................................................................................................................................................... 10

Foreign Direct Investment Inflows & Stocks ............................................................................................................... 10

Global Competitiveness Rankings .......................................................................................................................................... 11

Global Competitiveness Index............................................................................................................................................. 11

Market & Environment Analysis ........................................................................................................................................ 12

Ease of Doing Business ........................................................................................................................................................... 13

Country International Trade Performance........................................................................................................................ 15

Imports-International Market............................................................................................................................................. 15

Exports-International Market ............................................................................................................................................. 20

Investment Environment Highlights for Indian Investors ........................................................................................ 24

Market entry options for Indian Investors ................................................................................................................... 24

Bilateral Agreements ............................................................................................................................................................... 24

Select Indian Investors............................................................................................................................................................ 25

Trade with INDIA ............................................................................................................................................................................ 26

Overall Performance Analysis ............................................................................................................................................. 26

Imports-INDIA ............................................................................................................................................................................. 27

Exports-INDIA ............................................................................................................................................................................. 32

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COUNTRY SNAPSHOT

GDP based on PPP Valuation : (US$) 1,70,758

GDP per capita : (US$) 5,291

Annual Real GDP Growth (average over 2003-2011) : 4.78665288495453

GNI per Capita : (US$) 2,850

Population : (m) 32.4

Country Category : Lower Middle Income

Source: AFDB Statistics

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INVESTMENT PROSPECTS & HIGHLIGHTS

SELECT INVESTMENT HIGHLIGHTS

Simplification of administrative procedures for businesses Strengthening the system of business law (competition law and freedom

of pricing, the law on economic interest groups, the law on industrial and intellectual property ...)

Improving regulatory transparency Development and modernization of financial markets Creation of the National Committee of the Business Environment Creation of the Central Authority for the Prevention of Corruption Creation of the Moroccan Office of Intellectual Property and Commercial Promotion of the Charter on Corporate Social Responsibility

Source: Moroccan Investment and Development Agency (MIDA)

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INVESTMENT PROSPECTS AND RECENT MACROECONOMIC DEVELOPMENTS

In 2011 gross domestic product (GDP) growth reached 4.6%, supported by domestic demand and performance in the non-agricultural sectors, construction-related industries and services in particular. This performance is expected to continue in 2012, with growth projected at 4.5%, fuelled by 5.2% growth in non-agricultural GDP.

Growth in the agricultural sector benefited in 2011 from good climate conditions as well as from the first results of the strategic actions implemented under the Plan Maroc Vert.[1] The added value in the agricultural sector increased by 8.2% in 2011 and the 2010/11 agricultural season yielded 8.4 million tonnes in cereal production, or 12% more than the previous season.

Non-cereal agriculture was also helped by good rainfall. The ensuing greater availability of water at river dams, coupled with an increase in acreage sown and the entry into production of new orchards, increased crop output by nearly 7% at the end of 2011.

Fishing, another important component of the Moroccan primary sector, remains dominated by deep-sea catches, which account for more than two-thirds of the total volume of landings. Fishing was estimated to have grown by 1.5% in 2011 and is projected to grow by 9.5% in 2012 as the second phase of the 2011-14 Ibhar programme is implemented.

Growth of the non-agricultural sector continued in 2011, to reach 4.3%. Growth of the secondary sector stood at 4.6%, and of the tertiary sector at 4.2%. This upward trend is expected to be stronger in 2012 and reach 5.2%, with growth rates of the secondary and tertiary sectors at 5.4% and 5.1% respectively.

Phosphate-mining activities benefited in 2011 from a strong recovery in foreign demand from countries such as Brazil, India and the United States. At the end of 2011, phosphate and derivatives exports had increased by 33.2% and 40.2% respectively yielding MAD 35.8 billion (Moroccan dirham) for derivatives and MAD 12.6 billion for rock phosphate.

The added value of manufacturing was thus estimated to have progressed by 3.4% in 2011 and is projected to rise by a further 3.9% in 2012.

The textiles and clothing industry is one of the drivers of Moroccan industry, alone accounting for more than 40% of industrial jobs and

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generating close to MAD 30 billion in export income, which makes it fourth highest in foreign earnings. Export values for garments and hosiery items increased by 1.4% and 6.2% respectively in 2011 compared with the previous year.

The Renault factory in Tangiers is a major project which should initially produce 170 000 vehicles starting in 2012 and 400 000 by 2014-15, 90% of which will be for export.

The electronics industry has confirmed its positive results of 2010 with exports of power lines and cables having risen by 9.8% in 2011.

Construction-related industries grew by 4.6% in 2011 after registering in 2010 a slowdown in activity. Growth in 2011 of these industries is mainly explained by a strong recovery in social housing, in line with the 2010-20 stimulus package adopted in the 2010 budget, as well as by continued implementation of the policy of major infrastructure projects (roads, motorways and airports). Cement sales and mortgage credits, for instance, increased by 7.2% and 7.5% respectively in 2011 compared with the previous year.

Growth in the tertiary sector was 4.2% in 2011 and is expected to increase to 5.1% in 2012.

Travel receipts generated by non-residents increased by 4% at the end of December 2011 to MAD 58.3 billion.

Post and telecommunications, which had suffered a slowdown in 2010, returned to growth in 2011 with a 5.7% increase, which is expected to be a stronger 6.2% in 2012. Growth here is driven as much by land and mobile telephony as by the Internet.

Domestic demand continued to be the main driver for growth in the national economy by contributing 4.9 points in real terms in 2011, thus offsetting the decline in external demand. The contribution to growth of household consumption, one of the main components of domestic demand with an average GDP share of nearly 60% for 1980-2010, increased to 3.4 points in 2011. Otherwise, the volume of gross fixed-capital formation increased by 3.4% in 2011 and is expected to increase further by 4.5% in 2012 thanks to the robust health of construction-related activities.

Public investment is a major catalyst for growth, with its total doubling between 2007 and 2011.

Source: African Economic Outlook 2012 (AFDB, OECD, UNDP, UNECA)

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INVESTMENT HIGHLIGHTS

For over a decade, Morocco launched large-scale projects aimed at elevating its infrastructure to international standards:

Tanger-Med Port entered into service in 2007 with a total capacity of over 3 million containers (8 million in 2016), in addition to professional real estate of over 2000 hectares, complements the overall port infrastructure consisting of 11 ports meeting international standards.

With the completion of the complementary program, the highway network will pass from a length of 1500 km in 2010 to 1800 km in 2015, connecting all cities exceeding 400,000 residents.

Thanks to an Open Sky policy, the 15 international airports in Morocco (largest airport hub in the region) are used by a multitude of international companies and are connected to major cities and economic platforms of world affairs.

A wide network of Economic Activities Zones (Integrated Industrial Platforms, free zones, clusters...)

Telecommunications infrastructure meeting international standards. Three global operators (Fixed phone, mobile, Internet and data), the telecommunications sector in Morocco achieves every year an intense and sustained activity: 97% mobile penetration and 13 million Internet users (September 2010).

Morocco launched numerous strategic sectorial plans that ensure strong and sustainable economic growth. This reform momentum is marked by an innovative contracting approach and public private partnership advocating greater and coordinated participation of the private sector in the development of sectoral strategies and policies along with the funding of projects allowing to refocus the State’s role on its regulatory powers.

These strategies are part of a process to speed the development of strategic sectors like agriculture, fishery, mining, renewable energy, logistics and promising sectors such as automotive, aerospace and services with high added value.


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SECTORAL INVESTMENT OPPORTUNITIES

Industries Opportunities

Industry The state and the private sector have sealed this covenant by signing

a contract program covering the period 2009-2015. By consolidating

into one document their mutual commitments, partners bring to all investors the necessary visibility on the changes of the future

Moroccan industry. This contractual formula also guarantees the

proper execution of measures agreed upon, by ensuring the

involvement of all parties concerned, around specific, concrete, concerted and budgeted actions.

Solar

Energy

As part of its strategy towards energy use, Morocco gives priority to

developing renewable energy and sustainable development. With

abundant solar resources (a potential of 2 600 kWh/m²/year) and a strategic position at the heart of an energy hub (Connexion with

Spanish Network through two electric lines 400kV/700 MW), Morocco

offers a wide range of investment opportunities in the sector of thermal and photovoltaic solar energy.

Wind

Energy

As part of its strategy towards energy use, Morocco has undertaken

a vast wind energy program, to support the development of

renewable energy and energy efficiency in the country. The Moroccan Integrated Wind Energy Project, spanning over a period of

10 years with a total investment estimated at 31.5 billion dirhams,

will enable the country to bring the installed capacity, from wind energy, from 280 MW in 2010 to 2000 MW in 2020.

Tourism Between 2005 and 2010, the number of tourists visiting Morocco has

increased from 5.8 to over 9.3 million, and a mounts of foreign direct

investments are around € 30 billion over this period combined. In addition, in 2009, Morocco was the only Mediterranean countries to

have increased more than 6% while the world market decreased by

5%

Agriculture The agricultural sector contributes with 19% to the national GDP, divided between agriculture (15%) and agro-industry (4%). This

sector employs over 4 million people including about 100,000 in

agro-industry.

The new agricultural strategy, Green Morocco Plan, established by the Ministry of Agriculture and Fishing, aims to consolidate the

success achieved and to meet new challenges facing Morocco's

competitiveness and opening of market

Fishing The fishing sector in Morocco has developed an integrated, ambitious and comprehensive development in 2020 called "Halieutis. It aims at

upgrading and modernization of various sectors of the fishing

industry and improve its competitiveness and performance


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INITIATIVES TO FOSTER INVESTMENT & TRADE

Morocco launched numerous strategic sectoral plans to speed the development of strategic sectors like agriculture, fisheries, mining, renewable energy, logistics and promising sectors such as automotive, aerospace and services with high added value.

The Government of Morocco has, in recent times, increased its reform practices and implemented wide- ranging targets for reform.

The Government of Morocco’s Investment Charter Law simplifies taxes and investment laws.

Morocco is negotiating with Argentina, Brazil, Mexico, Bangladesh, Japan, Thailand and Saudi Arabia for double taxation treaties.

Morocco has 16 regional investment centers (RICs), which serve as a “single- window clearance centers” for foreign investors setting up businesses in the country.

Sectoral plans such as Emergence Plan (Industry), Green Morocco Plan (Agriculture), Halieutis (Fisheries), Solar and Wind Energy Plan and 2020 Vision Plan (Tourism), aim at ensuring strong and sustainable economic growth.


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KEY INVESTMENT PERFORMANCE

FOREIGN DIRECT INVESTMENT INFLOWS & STOCKS

Note: US Dollars at current prices and current exchange rates in millions

Source: UNCTAD Stat

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Series 1 8841.7 11649 12131 17106 19883 20752 29939 38613 39388 42581 45082 46300

US-

Do

llars

Foreign Direct Investment-Stock

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Series 1 422.21 2807.7 481.3 2314.5 894.78 1654 2449.4 2804.5 2487.1 1951.7 1573.9 2519.1

US-

Do

llars

Foreign Direct Investment-Inflow

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GLOBAL COMPETITIVENESS RANKINGS

GLOBAL COMPETITIVENESS INDEX

GCI Rank Score

Out OF 142 1 TO 7

GCI 2011–2012 73 4.2

GCI 2010–2011 (out of 139) 75 4.1

GCI 2009–2010 (out of 133) 73 4.0

Basic requirements (40%) 54 4.7

Institutions 59 4.0

Infrastructure 69 3.9

Macroeconomic environment 25 5.6

Health and primary education 93 5.4

Efficiency enhancers (50%) 83 3.9

Higher education and training 98 3.6

Goods market efficiency 76 4.2

Labor market efficiency 132 3.5

Financial market development 62 4.2

Technological readiness 66 3.7

Market size 57 4.0

Innovation and sophistication factors (10%)

79 3.4

Business sophistication 80 3.8

Innovation 80 3.0

Source: The Global Competitiveness Report 2011-2012

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MARKET & ENVIRONMENT ANALYSIS

Source: The Global Information Technology Report 2010–2011

NETWORKED READINESS INDEX

Score Rank

Venture capital availability* 3.0 40 Financial market sophistication*

4.5 60

Availability of latest technologies*

5.0 68

State of cluster development* 3.4 68

Burden of government regulation*

3.4 60

Extent & effect of taxation* 3.2 99

Total tax rate, % profits 41.7 75

No. days to start a business 12 45

No. procedures to start a business

6 33

Freedom of the press* 4.3 94

Effectiveness of law-making bodies*

3.7 58

Laws relating to ICT* 3.6 84

Judicial independence* 3.5 78

Efficiency of legal system in settling disputes*

3.9 56

Efficiency of legal system in challenging regs*

3.9 52

Property rights* 4.4 62

Intellectual property protection*

3.4 71

Software piracy rate, % software installed

66 60

No. procedures to enforce a contract

40 94

No. days to enforce a contract 615 88

Internet & telephony competition, 0-6 (best)

6 1

*Out of a 1–7 (best) scale. This indicator is derived from the World Economic Forum’s Executive Opinion Survey.

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EASE OF DOING BUSINESS

Overall Rank 94

Starting a business (rank) 93

Procedures (number) 6

Time (days) 12

Cost (% of income per capita) 15.7

Minimum capital (% of income per capita) 10.7

Dealing with construction permits (rank) 75


Time (days) 97

Cost (% of income per capita) 234.6

Getting electricity (rank) 107


Time (days) 71

Cost (% of income per capita) 2,588.6

Registering property (rank) 144


Time (days) 75

Cost (% of property value) 4.9

Getting credit (rank) 98

Strength of legal rights index (0-10) 3

Depth of credit information index (0-6) 5

Public registry coverage (% of adults) 0.0

Private bureau coverage (% of adults) 14.6

Protecting investors (rank) 97

Extent of disclosure index (0-10) 7

Extent of director liability index (0-10) 2

Ease of shareholder suits index (0-10) 6

Strength of investor protection index (0-10) 5.0

Paying taxes (rank) 112

Payments (number per year) 17

Time (hours per year) 238

Total tax rate (% of profit) 49.6

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Trading across borders (rank) 43

Documents to export (number) 6

Time to export (days) 11

Cost to export (US$ per container) 577

Documents to import (number) 8

Time to import (days) 16

Cost to import (US$ per container) 950

Enforcing contracts (rank) 89


Time (days) 510

Cost (% of claim) 25.2

Resolving insolvency (rank) 67

Time (years) 1.8

Cost (% of estate) 18

Recovery rate (cents on the dollar) 38.3

Source: Doing Business 2012-IFC & WB

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COUNTRY INTERNATIONAL TRADE PERFORMANCE

IMPORTS-INTERNATIONAL MARKET

Industry Import value

Imports as a share of

total imports (%)

Growth of imports in value (%

p.a.)

Growth of world

imports in value (%

p.a.)

Growth of share in world

imports (% p.a.)

00 All industries 35,378 100 11

27 Mineral fuels, oils, distillation products, etc

8,133 22.99 13 8 5

84 Boilers, machinery; nuclear reactors, etc

3,802 10.75 13 4 9

85 Electrical, electronic equipment

2,977 8.42 8 5 2

87 Vehicles other than railway, tramway

2,801 7.92 17 1 16

10 Cereals 1,408 3.98 23 12 11

39 Plastics and articles thereof

1,257 3.55 9 6 3

72 Iron and steel 1,180 3.34 1 3 -2

52 Cotton 624 1.76 -2 4 -6

73 Articles of iron or steel 587 1.66 12 5 7

48 Paper & paperboard, articles of pulp, paper and board

545 1.54 13 3 10

30 Pharmaceutical products

502 1.42 18 10 8

44 Wood and articles of wood, wood charcoal

499 1.41 5 -1 6

55 Manmade staple fibres 457 1.29 2 4 -2

15 Animal,vegetable fats and oils, cleavage products, etc

453 1.28 13 14 -1

25 Salt, sulphur, earth, stone, plaster, lime and cement

452 1.28 11 6 5

29 Organic chemicals 450 1.27 9 5 4

90 Optical, photo, technical, medical, etc apparatus

435 1.23 13 5 8

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28 Inorganic chemicals, precious metal compound, isotopes

406 1.15 15 7 8

17 Sugars and sugar confectionery

401 1.13 11 9 2

23 Residues, wastes of food industry, animal fodder

391 1.1 34 14 20

38 Miscellaneous chemical products

365 1.03 10 9 1

74 Copper and articles thereof

361 1.02 8 5 3

88 Aircraft, spacecraft, and parts thereof

346 0.98 1 3 -2

60 Knitted or crocheted fabric

325 0.92 9 4 5

40 Rubber and articles thereof

316 0.89 17 9 8

94 Furniture, lighting, signs, prefabricated buildings

316 0.89 19 3 15

76 Aluminium and articles thereof

303 0.86 4 0 4

04 Dairy products, eggs, honey, edible animal product nes

244 0.69 16 9 7

32 Tanning, dyeing extracts, tannins, derivs,pigments etc

227 0.64 11 5 6

54 Manmade filaments 226 0.64 4 2 3

33 Essential oils, perfumes, cosmetics, toileteries

225 0.64 17 8 9

12 Oil seed, oleagic fruits, grain, seed, fruit, etc, nes

210 0.59 0 21 -21

86 Railway, tramway locomotives, rolling stock, equipment

203 0.57 48 9 38

09 Coffee, tea, mate and spices

196 0.55 6 13 -7

62 Articles of apparel, accessories, not knit or crochet

195 0.55 15 2 13

31 Fertilizers 186 0.53 7 14 -7

58 Special woven or tufted fabric, lace, tapestry etc

152 0.43 0 -2 2

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96 Miscellaneous manufactured articles

149 0.42 10 5 5

83 Miscellaneous articles of base metal

144 0.41 20 4 16

69 Ceramic products 144 0.41 17 3 14

68 Stone, plaster, cement, asbestos, mica, etc articles

133 0.37 26 2 24

70 Glass and glassware 129 0.37 10 5 6

56 Wadding, felt, nonwovens, yarns, twine, cordage, etc

127 0.36 9 6 3

08 Edible fruit, nuts, peel of citrus fruit, melons

125 0.35 27 8 19

49 Printed books, newspapers, pictures etc

115 0.33 3 2 1

41 Raw hides and skins (other than furskins) and leather

111 0.31 1 -2 2

64 Footwear, gaiters and the like, parts thereof

111 0.31 8 6 3

03 Fish, crustaceans, molluscs, aquatic invertebrates nes

110 0.31 22 5 17

34 Soaps, lubricants, waxes, candles, modelling pastes

108 0.31 20 8 12

01 Live animals 104 0.29 32 6 25

82 Tools, implements, cutlery, etc of base metal

91 0.26 9 5 4

24 Tobacco and manufactured tobacco substitutes

88 0.25 6 7 -1

89 Ships, boats and other floating structures

82 0.23 -1 13 -13

59 Impregnated, coated or laminated textile fabric

80 0.23 2 5 -3

61 Articles of apparel, accessories, knit or crochet

77 0.22 -14 5 -19

26 Ores, slag and ash 73 0.21 40 18 22

51 Wool, animal hair, horsehair yarn and fabric thereof

73 0.21 -13 -3 -10

99 Commodities not 65 0.18 1243 2 1241

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elsewhere specified

19 Cereal, flour, starch, milk preparations and products

64 0.18 7 9 -3

20 Vegetable, fruit, nut, etc food preparations

64 0.18 27 7 21

63 Other made textile articles, sets, worn clothing etc

63 0.18 26 6 19

21 Miscellaneous edible preparations

63 0.18 17 9 8

22 Beverages, spirits and vinegar

58 0.16 11 5 6

07 Edible vegetables and certain roots and tubers

58 0.16 10 9 1

35 Albuminoids, modified starches, glues, enzymes

54 0.15 7 6 0

95 Toys, games, sports requisites

51 0.14 7 6 2

05 Products of animal origin, nes

50 0.14 9 7 2

42 Articles of leather, animal gut, harness, travel goods

40 0.11 9 6 3

18 Cocoa and cocoa preparations

36 0.1 15 13 2

93 Arms and ammunition, parts and accessories thereof

33 0.09 67 11 56

57 Carpets and other textile floor coverings

33 0.09 51 1 50

91 Clocks and watches and parts thereof

33 0.09 3 7 -5

06 Live trees, plants, bulbs, roots, cut flowers etc

32 0.09 7 4 3

79 Zinc and articles thereof

31 0.09 -10 -7 -3

53 Vegetable textile fibres nes, paper yarn, woven fabric

30 0.08 -8 -2 -6

37 Photographic or cinematographic goods

28 0.08 4 -3 7

71 Pearls, precious stones, metals, coins, etc

26 0.07 -7 12 -19

02 Meat and edible meat 24 0.07 44 9 35

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Source: International Trade Centre (2010, in USD millions)

offal

47 Pulp of wood, fibrous cellulosic material, waste etc

24 0.07 7 10 -3

50 Silk 19 0.05 -14 -5 -9

16 Meat, fish and seafood food preparations nes

18 0.05 10 6 3

11 Milling products, malt, starches, inulin, wheat gluten

11 0.03 25 12 14

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EXPORTS-INTERNATIONAL MARKET

Industry Exports in value

Exports as a share of

total exports (%)

Growth of exports in value (%

p.a.)

Growth of world

exports in value (%

p.a.)

Growth of share in world

exports (% p.a.)

00 All industries 17,764 100 9

85 Electrical, electronic equipment

2,637 14.85 9 5 4

62 Articles of apparel, accessories, not knit or crochet

2,143 12.06 -3 2 -4

28 Inorganic chemicals, precious metal compound, isotopes

1,663 9.36 13 8 5

31 Fertilizers 1,562 8.79 32 21 11

25 Salt, sulphur, earth, stone, plaster, lime and cement

1,174 6.61 17 6 11

61 Articles of apparel, accessories, knit or crochet

828 4.66 1 5 -5

03 Fish, crustaceans, molluscs, aquatic invertebrates nes

768 4.32 3 7 -4

16 Meat, fish and seafood food preparations nes

614 3.46 6 6 0

07 Edible vegetables and certain roots and tubers

601 3.38 20 10 10

27 Mineral fuels, oils, distillation products, etc

588 3.31 6 7 -2

08 Edible fruit, nuts, peel of citrus fruit, melons

575 3.24 10 9 1

71 Pearls, precious stones, metals, coins, etc

373 2.1 36 14 22

64 Footwear, gaiters and the like, parts thereof

352 1.98 6 7 -1

84 Boilers, machinery; nuclear reactors, etc

262 1.48 29 4 26

87 Vehicles other than railway, tramway

245 1.38 20 2 19

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74 Copper and articles thereof

231 1.3 20 4 16

63 Other made textile articles, sets, worn clothing etc

225 1.27 55 7 48

26 Ores, slag and ash 211 1.19 6 19 -12

88 Aircraft, spacecraft, and parts thereof

208 1.17 90 -4 94

20 Vegetable, fruit, nut, etc food preparations

199 1.12 10 7 3

72 Iron and steel 150 0.84 -8 4 -12

15 Animal,vegetable fats and oils, cleavage products, etc

138 0.78 5 16 -11

23 Residues, wastes of food industry, animal fodder

123 0.69 32 15 17

47 Pulp of wood, fibrous cellulosic material, waste etc

116 0.66 21 10 10

39 Plastics and articles thereof

116 0.65 29 6 23

04 Dairy products, eggs, honey, edible animal product nes

96 0.54 -1 10 -11

78 Lead and articles thereof

88 0.49 13 11 2

94 Furniture, lighting, signs, prefabricated buildings

80 0.45 5 5 0

33 Essential oils, perfumes, cosmetics, toileteries

73 0.41 12 8 4

76 Aluminium and articles thereof

68 0.39 7 1 6

42 Articles of leather, animal gut, harness, travel goods

65 0.37 0 8 -7

12 Oil seed, oleagic fruits, grain, seed, fruit, etc, nes

64 0.36 -5 21 -26

30 Pharmaceutical products

62 0.35 18 10 8

21 Miscellaneous edible preparations

62 0.35 10 9 1

73 Articles of iron or steel 61 0.34 10 4 6

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05 Products of animal origin, nes

60 0.34 6 7 -2

81 Other base metals, cermets, articles thereof

58 0.33 8 0 7

48 Paper & paperboard, articles of pulp, paper and board

50 0.28 8 3 4

52 Cotton 49 0.28 2 4 -2

90 Optical, photo, technical, medical, etc apparatus

45 0.25 8 6 2

40 Rubber and articles thereof

43 0.24 43 9 34

69 Ceramic products 40 0.22 -3 3 -6

13 Lac, gums, resins, vegetable saps and extracts nes

39 0.22 -2 9 -11

34 Soaps, lubricants, waxes, candles, modelling pastes

37 0.21 19 8 11

11 Milling products, malt, starches, inulin, wheat gluten

33 0.19 8 11 -4

41 Raw hides and skins (other than furskins) and leather

33 0.18 15 0 15

55 Manmade staple fibres 31 0.18 -7 3 -10

68 Stone, plaster, cement, asbestos, mica, etc articles

30 0.17 -10 3 -13

09 Coffee, tea, mate and spices

29 0.16 27 13 14

99 Commodities not elsewhere specified

27 0.15 178 4 174

89 Ships, boats and other floating structures

25 0.14 -7 17 -24

44 Wood and articles of wood, wood charcoal

23 0.13 -14 -1 -13

17 Sugars and sugar confectionery

22 0.12 2 11 -9

22 Beverages, spirits and vinegar

20 0.11 -3 6 -9

19 Cereal, flour, starch, milk preparations and products

16 0.09 25 10 15

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Source: International Trade Centre (2010, in USD millions)

29 Organic chemicals 16 0.09 19 5 14

24 Tobacco and manufactured tobacco substitutes

15 0.09 365 7 358

32 Tanning, dyeing extracts, tannins, derivs,pigments etc

13 0.08 22 5 17

57 Carpets and other textile floor coverings

13 0.07 -11 2 -13

95 Toys, games, sports requisites

12 0.07 20 5 15

45 Cork and articles of cork

12 0.07 -8 -3 -6

38 Miscellaneous chemical products

11 0.06 45 10 35

51 Wool, animal hair, horsehair yarn and fabric thereof

11 0.06 24 -1 25

06 Live trees, plants, bulbs, roots, cut flowers etc

11 0.06 9 4 5

54 Manmade filaments 10 0.06 2 2 0

60 Knitted or crocheted fabric

10 0.06 -1 5 -6

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INVESTMENT ENVIRONMENT HIGHLIGHTS FOR INDIAN INVESTORS

MARKET ENTRY OPTIONS FOR INDIAN INVESTORS

Casablanca and Tangier are the primary points of entry for foreign manufactured goods for direct distribution to the public, wholesalers, distributors and retailers. In Morocco, business is based on trust and mutual respect built over time.

Exporters will need to travel to Morocco frequently to develop and strengthen relationships in order to do business successfully.

Morocco’s 16 Regional Investment Centers are the government’s “one stop shops” for the entire registration process, which has been greatly simplified in recent years.

Direct marketing, Franchises and Joint ventures are some of the popular modes to enter Moroccan market.

Source: E&Y Morocco Investment Guide

BILATERAL AGREEMENTS

Memorandums of Understanding (MOUs) have been signed for bilateral cooperation in housing, geology and mines, agriculture research and education, plant protection and plant quarantine, energy and mines.

The Morocco-Indian Joint Business Council (MIJBC) was set up in February 2000 to help promote trade between the 2 countries and contribute to industrial and technological collaboration between their enterprises and economic institutions.

Source: Directorate General of Foreign Trade, GOI

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SELECT INDIAN INVESTORS

Taj Hotels Chambal Fertilizers and Chemicals Limited Tata Chemicals Berggruen Hotels Tata Motors Tata Consultancy Services


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TRADE WITH INDIA

OVERALL PERFORMANCE ANALYSIS

Dated: 05/11/2012

Values in US $ Millions

S.No. Year 2007-2008

2008-2009

2009-2010

2010-2011

2011-2012

1. EXPORT 208.43 242.85 250.47 318.57 372.10

2. %Growth 16.51 3.14 27.19 16.80

3. India's Total Export 163,132.18 185,295.36 178,751.43 251,136.19 305,963.92

4. %Growth 13.59 -3.53 40.49 21.83

5. %Share 0.13 0.13 0.14 0.13 0.12

6. IMPORT 499.40 948.15 861.51 839.64 1,635.33

7. %Growth 89.86 -9.14 -2.54 94.77

8. India's Total Import 251,654.01 303,696.31 288,372.88 369,769.13 489,319.49

9. %Growth 20.68 -5.05 28.23 32.33

10. %Share 0.20 0.31 0.30 0.23 0.33

11. TOTAL TRADE 707.83 1,191.00 1,111.98 1,158.21 2,007.44

12. %Growth 68.26 -6.63 4.16 73.32

13. India's Total Trade 414,786.19 488,991.67 467,124.31 620,905.32 795,283.41

14. %Growth 17.89 -4.47 32.92 28.08

15. %Share 0.17 0.24 0.24 0.19 0.25

16. TRADE BALANCE

17. India's Trade Balance -88,521.83 -

118,400.95

-

109,621.45

-

118,632.94

-

183,355.57

Note: Since 2006-07, Petroleum figures are being computed from Import Daily

trade Returns (DTRs) to generate country-wise/port-wise tables. Up to 2005-06

consolidated petroleum import figures were being received from the Petroleum

Ministry.


27 | P a g e

IMPORTS-INDIA

Dated: 27/12/2012

Values in US$ Million

Sorted on HS Code

S.no. Hs Code Commodity 2011-2012

2012-2013(apr-

sep)

1. 03 Fish and crustaceans, molluscs and

other aquatic invertabrates.

0.26

2. 05 Products of animal origin, not

elsewhere specified or included.

0.14

3. 06 Live trees and other plants; bulbs;

roots and the like; cut flowers and

ornamental foliage.

0.00

4. 07 Edible vegetables and certain roots

and tubers.

0.07 0.04

5. 08 Edible fruit and nuts; peel or citrus

fruit or melons.

0.21 0.01

6. 09 Coffee, tea, mate and spices. 0.22 0.04

7. 12 Oil seeds and olea. Fruits; misc.

Grains, seeds and fruit; industrial or

medicinal plants; straw and fodder.

0.71 0.43

8. 13 Lac; gums, resins and other vegetable

saps and extracts.

0.16 0.16

9. 15 Animal or vegetable fats and oils and

their cleavage products; pre. Edible

fats; animal or vegetable waxex.

1.59

10. 19 Preparations of cereals, flour, starch

or milk; pastrycooks products.

0.01

11. 20 Preparations of vegetables, fruit, nuts

or other parts of plants.

0.01 0.03

12. 21 Miscellaneous edible preparations. 0.02

13. 22 Beverages, spirits and vinegar. 0.00

28 | P a g e

14. 25 Salt; sulphur; earths and stone;

plastering materials, lime and cement.

243.55 166.09

15. 26 Ores, slag and ash. 3.12 2.51

16. 27 Mineral fuels, mineral oils and

products of their distillation;

bituminous substances; mineral

waxes.

0.23 0.13

17. 28 Inorganic chemicals; organic or

inorganic compounds of precious

metals, of rare-earth metals, or radi.

Elem. Or of isotopes.

913.00 283.58

18. 29 Organic chemicals 0.39 0.05

19. 30 Pharmaceutical products 0.02

20. 31 Fertilisers. 407.86 235.60

21. 32 Tanning or dyeing extracts; tannins

and their deri. Dyes, pigments and

other colouring matter; paints and

ver; putty and other mastics; inks.

0.06 0.00

22. 33 Essential oils and resinoids;

perfumery, cosmetic or toilet

preparations.

0.14 0.06

23. 34 Soap, organic surface-active agents,

washing preparations, lubricating

preparations, artificial waxes,

prepared waxes, polishing or scouring

prep.

0.00 0.00

24. 35 Albuminoidal substances; modified

starches; glues; enzymes.

0.00 0.01

25. 38 Miscellaneous chemical products. 0.14

26. 39 Plastic and articles thereof. 0.25 0.23

27. 40 Rubber and articles thereof. 0.04 0.00

28. 41 Raw hides and skins (other than

furskins) and leather

0.01 0.39

29 | P a g e

29. 42 Articles of leather,saddlery and

harness;travel goods, handbags and

similar cont.articles of animal

gut(othr thn silk-wrm)gut.

0.00 0.00

30. 44 Wood and articles of wood; wood

charcoal.

0.32 0.05

31. 45 Cork and articles of cork. 0.04 0.05

32. 47 Pulp of wood or of other fibrous

cellulosic material; waste and scrap of

paper or paperboard.

0.58 0.04

33. 48 Paper and paperboard; articles of

paper pulp, of paper or of paperboard.

0.14 0.10

34. 49 Printed bookds, newspapers, pictures

and other products of the printing

industry; manuscripts, typescripts and

plans.

0.01 0.00

35. 51 Wool, fine or coarse animal hair,

horsehair yarn and woven fabric.

0.89 0.28

36. 52 Cotton. 0.01

37. 54 Man-made filaments. 0.46

38. 55 Man-made staple fibres. 0.08

39. 57 Carpets and other textile floor

coverings.

0.00

40. 58 Special woven fabrics; tufted textile

fabrics; lace; tapestries; trimmings;

embroidery.

0.00

41. 60 Knitted or crocheted fabrics.

42. 61 Articles of apparel and clothing

accessories, knitted or corcheted.

0.09 0.04


accessories, not knitted or crocheted.

0.17 0.11

44. 63 Other made up textile articles; sets;

worn clothing and worn textile

0.69 0.39

30 | P a g e

articles; rags

45. 64 Footwear, gaiters and the like; parts

of such articles.

0.01

46. 65 Headgear and parts thereof. 0.00

47. 68 Articles of stone, plaster, cement,

asbestos, mica or similar materials.

0.15 0.00

48. 69 Ceramic products. 0.01 0.00

49. 70 Glass and glassware. 0.07

50. 71 Natural or cultured pearls,precious or

semiprecious stones,pre.metals,clad

with pre.metal and artcls

thereof;imit.jewlry;coin.

3.48 0.00

51. 72 Iron and steel 3.69 1.69

52. 73 Articles of iron or steel 0.08 0.33

53. 74 Copper and articles thereof. 12.50 4.57

54. 75 Nickel and articles thereof. 0.35

55. 76 Aluminium and articles thereof. 22.04 12.82

56. 78 Lead and articles thereof. 1.76

57. 79 Zinc and articles thereof. 0.41 0.25

58. 81 Other base metals; cermets; articles

thereof.

0.03

59. 82 Tools implements, cutlery, spoons

and forks, of base metal; parts thereof

of base metal.

0.58 0.01

60. 83 Miscellaneous articles of base metal. 0.01

61. 84 Nuclear reactors, boilers, machinery

and mechanical appliances; parts

thereof.

1.32 0.27

62. 85 Electrical machinery and equipment

and parts thereof; sound recorders and

reproducers, television image and

sound recorders and reproducers,and

5.60 2.37

31 | P a g e

parts.

63. 87 Vehicles other than railway or

tramway rolling stock, and parts and

accessories thereof.

0.10 0.05

64. 88 Aircraft, spacecraft, and parts thereof. 0.31

65. 90 Optical, photographic

cinematographic measuring, checking

precision, medical or surgical inst.

And apparatus parts and accessories

thereof;

0.79 0.04

66. 91 Clocks and watches and parts thereof. 0.02

67. 94 Furniture; bedding, mattresses,

mattress supports, cushions and

similar stuffed furnishing; lamps and

lighting fittings not elsewhere

specified or inc

0.01 0.01

68. 96 Miscellaneous manufactured articles. 0.01

69. 99 Miscellaneous goods. 8.30 0.00

Total 1,635.33 714.92


32 | P a g e

EXPORTS-INDIA

Dated: 27/12/2012

Values in US$ Million

Sorted on HS Code

S.no. Hs Code Commodity 2011-2012

2012-2013(apr-

sep)

1. 03 Fish and crustaceans, molluscs and

other aquatic invertabrates.

0.15 0.15

2. 04 Dairy produce; birds' eggs; natural

honey; edible prod. Of animal origin,

not elsewhere spec. Or included.

1.18 0.69

3. 05 Products of animal origin, not

elsewhere specified or included.

0.00

4. 06 Live trees and other plants; bulbs; roots

and the like; cut flowers and

ornamental foliage.

0.04 0.06

5. 07 Edible vegetables and certain roots and

tubers.

0.34 0.01

6. 08 Edible fruit and nuts; peel or citrus

fruit or melons.

1.54 1.11

7. 09 Coffee, tea, mate and spices. 12.99 5.10

8. 10 Cereals. 0.95 0.38

9. 11 Products of the milling industry; malt;

starches; inulin; wheat gluten.

0.06

10. 12 Oil seeds and olea. Fruits; misc.

Grains, seeds and fruit; industrial or

medicinal plants; straw and fodder.

0.19 0.20

11. 13 Lac; gums, resins and other vegetable

saps and extracts.

0.64 0.37

12. 14 Vegetable plaiting materials; vegetable

products not elsewhere specified or

included.

0.00

33 | P a g e

13. 15 Animal or vegetable fats and oils and

their cleavage products; pre. Edible

fats; animal or vegetable waxex.

0.58 0.14

14. 17 Sugars and sugar confectionery. 0.16 0.05

15. 18 Cocoa and cocoa preparations. 0.11 0.17

16. 19 Preparations of cereals, flour, starch or

milk; pastrycooks products.

0.00 0.05

17. 20 Preparations of vegetables, fruit, nuts

or other parts of plants.

0.03 0.02

18. 21 Miscellaneous edible preparations. 0.00

19. 23 Residues and waste from the food

industries; prepared animal foder.

0.20 0.03

20. 24 Tobacco and manufactured tobacco

substitutes.

4.31 1.01

21. 25 Salt; sulphur; earths and stone;

plastering materials, lime and cement.

0.21 0.25

22. 27 Mineral fuels, mineral oils and

products of their distillation;

bituminous substances; mineral waxes.

1.82 0.89

23. 28 Inorganic chemicals; organic or

inorganic compounds of precious

metals, of rare-earth metals, or radi.

Elem. Or of isotopes.

13.72 2.64

24. 29 Organic chemicals 14.08 7.80

25. 30 Pharmaceutical products 13.58 8.78

26. 31 Fertilisers.

27. 32 Tanning or dyeing extracts; tannins and

their deri. Dyes, pigments and other

colouring matter; paints and ver; putty

and other mastics; inks.

4.79 2.30

28. 33 Essential oils and resinoids; perfumery,

cosmetic or toilet preparations.

1.77 1.09

29. 34 Soap, organic surface-active agents, 0.64 0.41

34 | P a g e

washing preparations, lubricating

preparations, artificial waxes, prepared

waxes, polishing or scouring prep.

30. 35 Albuminoidal substances; modified

starches; glues; enzymes.

0.05 0.11

31. 36 Explosives; pyrotechnic products;

matches; pyrophoric alloys; certain

combustible preparations.

32. 37 Photographic or cinematographic

goods.

0.01 0.01

33. 38 Miscellaneous chemical products. 10.35 3.39

34. 39 Plastic and articles thereof. 23.00 6.76

35. 40 Rubber and articles thereof. 4.22 4.11

36. 41 Raw hides and skins (other than

furskins) and leather

0.92 0.41

37. 42 Articles of leather,saddlery and

harness;travel goods, handbags and

similar cont.articles of animal gut(othr

thn silk-wrm)gut.

0.30 0.15

38. 43 Furskins and artificial fur,

manufactures thereof.

0.00 0.00

39. 44 Wood and articles of wood; wood

charcoal.

0.21 0.01

40. 48 Paper and paperboard; articles of paper

pulp, of paper or of paperboard.

0.05 0.04

41. 49 Printed bookds, newspapers, pictures

and other products of the printing

industry; manuscripts, typescripts and

plans.

0.12 0.24

42. 50 Silk 0.53 0.30

43. 51 Wool, fine or coarse animal hair,

horsehair yarn and woven fabric.

0.32 0.04

44. 52 Cotton. 35.85 11.18

35 | P a g e

45. 53 Other vegetable textile fibres; paper

yarn and woven fabrics of paper yarn.

1.66 0.49

46. 54 Man-made filaments. 38.32 16.68

47. 55 Man-made staple fibres. 40.72 22.98

48. 56 Wadding, felt and nonwovens; spacial

yarns; twine, cordage, ropes and cables

and articles thereof.

4.08 2.30

49. 57 Carpets and other textile floor

coverings.

0.65 0.20

50. 58 Special woven fabrics; tufted textile

fabrics; lace; tapestries; trimmings;

embroidery.

2.59 2.08

51. 59 Impregnated, coated, covered or

laminated textile fabrics; textile articles

of a kind suitable for industrial use.

0.02

52. 60 Knitted or crocheted fabrics. 0.08 0.01


accessories, knitted or corcheted.

0.63 0.36


accessories, not knitted or crocheted.

2.55 3.18

55. 63 Other made up textile articles; sets;

worn clothing and worn textile articles;

rags

1.71 1.05

56. 64 Footwear, gaiters and the like; parts of

such articles.

0.09 0.03

57. 65 Headgear and parts thereof. 0.11 0.01

58. 66 Umbrellas, sun umbrellas, walking-

sticks, seat-sticks, whips,riding-crops

and parts thereof.

0.00 0.00

59. 68 Articles of stone, plaster, cement,

asbestos, mica or similar materials.

1.23 0.86

60. 69 Ceramic products. 0.49 0.13

61. 70 Glass and glassware. 1.26 1.54

36 | P a g e

62. 71 Natural or cultured pearls,precious or

semiprecious stones,pre.metals,clad

with pre.metal and artcls

thereof;imit.jewlry;coin.

0.73 0.50

63. 72 Iron and steel 3.22 5.15

64. 73 Articles of iron or steel 3.05 7.72

65. 74 Copper and articles thereof. 7.14 4.54

66. 75 Nickel and articles thereof. 0.01 0.01

67. 76 Aluminium and articles thereof. 0.36 0.15

68. 78 Lead and articles thereof. 0.13 0.13

69. 79 Zinc and articles thereof. 0.95 0.00

70. 82 Tools implements, cutlery, spoons and

forks, of base metal; parts thereof of

base metal.

1.12 0.84

71. 83 Miscellaneous articles of base metal. 0.12 0.11

72. 84 Nuclear reactors, boilers, machinery

and mechanical appliances; parts

thereof.

20.44 26.67

73. 85 Electrical machinery and equipment

and parts thereof; sound recorders and

reproducers, television image and

sound recorders and reproducers,and

parts.

30.23 6.97

74. 86 Railway or tramway locomotives,

rolling-stock and parts thereof; railway

or tramway track fixtures and fittings

and parts thereof; mechanical

0.00

75. 87 Vehicles other than railway or tramway

rolling stock, and parts and accessories

thereof.

52.30 23.34

76. 88 Aircraft, spacecraft, and parts thereof. 0.00 0.01

77. 90 Optical, photographic cinematographic

measuring, checking precision, medical

3.51 1.86

37 | P a g e

or surgical inst. And apparatus parts

and accessories thereof;

78. 91 Clocks and watches and parts thereof. 0.00 0.01

79. 92 Musical instruments; parts and

accessories of such articles.

0.00

80. 93 Arms and ammunition; parts and

accessories thereof.

0.01

81. 94 Furniture; bedding, mattresses,

mattress supports, cushions and similar

stuffed furnishing; lamps and lighting

fittings not elsewhere specified or inc

0.47 0.03

82. 95 Toys, games and sports requisites;

parts and accessories thereof.

0.15 0.16

83. 96 Miscellaneous manufactured articles. 0.65 0.47

84. 97 Works of art collectors' pieces and

antiques.

1.19 0.44

85. 98 Project goods; some special uses. 0.01 0.00

86. 99 Miscellaneous goods. 0.09 0.01

Total 372.10 191.56

Source: Directorate General of Foreign Trade, GOIs