Pakistán hace un llamamiento a estrechar lazos económicos con Marruecos

Pakistan's economic situation is crying out for a lifeline. With inflation above 20% and the rupee depreciating, Pakistanis are looking for ways to alleviate the terrible consequences of the global crisis, which, together with the floods the country is suffering, are wreaking havoc on the state coffers. Islamabad is therefore seeking closer ties with African countries, especially Morocco. The President of the Pakistani Senate, Muhammad Sadiq Sanjrani, has urged Moroccan investors to explore economic opportunities on Pakistani soil, citing his country's historic economic and diplomatic ties with the Alawi kingdom.

Sanjrani expressed this desire during a bilateral meeting with the president of the Moroccan Chamber of Councillors, Enaam Mayara. The president of the Senate also referred to the cooperation that his country wants to encourage in defence and various economic activities. The aim is to avoid some of the worst forecasts that analysts are making for Pakistan's economy. The latest World Bank report projects that the poverty rate could rise by as much as four points, which translates to 20% of Pakistan's more than 220 million people.

The move by the country led by Shehbaz Sharif is part of the "Engage Africa" initiative. The project aims to improve ties with African countries and take advantage of both resources and emerging markets on the continent. One of the tools is the consolidation of economic and diplomatic representation in what are considered the top ten African economies. With Morocco as one of the main ones, Pakistan aims to increase its presence in Nigeria, Kenya, South Africa, Senegal, Algeria, Egypt, Sudan, Tanzania and Ethiopia.
 
Of the aforementioned, Morocco, Kenya and South Africa are Pakistan's most important trading partners, to which Mozambique should be added. On the import side, Rabat is Islamabad's key import partner. The Kingdom's exports are close to 350 million euros, with phosphoric acid, chemical fertilisers and calcium phosphates topping the list of traded goods. For its part, Morocco imported nearly 40 million euros worth of goods, with textiles, cotton and rice standing out.

There are several reasons that can explain this strategy from the Pakistani perspective, but there are two that stand out above the rest. One concerns its Indian rival. India has begun to show serious interest in expanding its sphere of influence by looking towards North Africa, which has not gone down well in Pakistan. Those who stand to benefit in this context are the Moroccans, who see the Pakistan-India dispute as a good opportunity to gain competitive advantages with either side. Morocco, as the gateway to Africa, is a very attractive partner for which both countries have begun to move more intensively in recent times.

The other reason for Islamabad's rapprochement with Morocco is the aforementioned economic crisis. Pakistan's foreign debt stands at 130 billion euros, 30 billion of which is owed to China, which is responsible for major investments in Pakistani territory through the Belt and Road project. This situation, according to experts, could bring Islamabad closer to Beijing and distance it from the United States. What seems certain, however, is that Pakistan's focus is currently on Morocco and the strengthening of its position in North Africa.