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GJEPC explores trade opportunities in Morocco


MUMBAI: The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said it is exploring opportunities in Morocco to enhance trade ties between both the nations.

In a statement, GJEPC Chairman Colin Shah said: “Exports and imports of gems and jewellery between the two countries are negligible and need to be increased, which can enable India and Morocco in further developing their businesses and economy in terms of production, employment, new methods and techniques, among others. We should collaborate for skilling or training.”

GJEPC and Embassy of India, Morocco, jointly organised the India Global Connect on Thursday. It was organised to understand the current business scenario with regard to the gem and jewellery sector and to explore trade opportunities among manufacturers, exporters and importers of both the countries.

“India and Morocco have enjoyed cordial and friendly relations, and over the years, the bilateral relations have witnessed significant depth and growth.

“However, the gem and jewellery trade between the two countries is insignificant, and we should work together to achieve $150 million trade in this sector,” Commerce and Industry Joint Secretary Suresh Kumar stated.

Morocco is India’s second-largest trade partner from the northern African region, and the bilateral trade between the two countries stands at $2 billion. Currently, Moroccan global gem and jewellery imports stand at $122 million annually; of which, India’s share is $2 million.

Indian Ambassador to the Kingdom of Morocco Rajesh Vaishnaw said, “India has been adding modern techniques with traditional know-how to bring it more in tune with the global market.”

He added that similarly, Morocco has been a jewellery powerhouse for many years, and the combination of low-cost and highly skilled workforce has made it a hub for the jewellery trade. “Both countries can benefit tremendously by cooperating, collaborating, and exchanging ideas and expertise. Today’s webinar is a first step towards the same.”

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