Turkey
Two executives of former crypto investment platform arrested for fraud in Istanbul
Two executives from a former crypto investment platform accused of fraud were arrested in Istanbul earlier this year, Turkish media reported.
Morocco has emerged as one of the major beneficiaries of Brexit, with the country witnessing a substantial boost in the value of its exports to the United Kingdom.
Casablanca Financial District © Mena Today
Morocco has emerged as one of the major beneficiaries of Brexit, with the country witnessing a substantial boost in the value of its exports to the United Kingdom.
This positive development comes in the wake of increasing trade difficulties between the UK and EU member states due to complex import protocols and rising food prices, as reported by Morocco World News.
The shift in trade dynamics has prompted UK importers to explore partnerships with non-EU countries, and Morocco, in particular, has proven to be an attractive trade partner. Between 2018 and 2022, UK imports of Moroccan fresh and dried, as well as frozen, fruit and vegetables surged by an impressive 200%.
Egypt has also experienced a significant rise in its exports of fresh, dried, and frozen fruit and vegetables to the UK during the same period, illustrating a broader trend of UK importers diversifying their sources.
Data reveals that the UK spent a substantial £425 million on Moroccan produce, including fruit and vegetables, in 2022, in addition to an investment of at least £352 million the previous year.
Among the Moroccan products enjoying popularity in the UK market are raspberries, blackberries, blueberries, and strawberries. Additionally, Morocco exported tomatoes worth £163 million and tangerines valued at £36 million in 2023.
Intriguingly, there has been a notable decline in UK imports from EU countries compared to imports from Morocco. Poland, despite being an EU member, experienced a 33% increase in its market share in the UK over the same period, while Spain also witnessed a growth in exports to the UK.
The UK and Morocco share an Association Agreement, signed following Britain's exit from the EU in 2019, underlining the UK's commitment to fostering a strong partnership with Morocco in the post-Brexit era.
Former UK Prime Minister Boris Johnson has lauded the flourishing partnership between the two countries, citing the doubling of trade with Morocco as an example of the benefits of leaving the EU.
Morocco's Ambassador to the UK, Hakim Hajoui, has emphasized the growing international support for Morocco's position on Western Sahara. The potential for further advancement in cooperation between the UK and Morocco, particularly concerning the Autonomy Plan, hinges on the UK's stance on this critical issue.
Morocco's success in diversifying its trade relationships and strengthening its economic ties with the UK underscores its resilience and adaptability in the evolving global trade landscape shaped by Brexit.
By Roger Dankin
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