“It is possible to discuss exchange operations as well as find solutions to our mutual obligations using currencies other than the dollar and the euro,” Valerian Shuvaev said in an interview with the Efe news agency.
The Russian official did not rule out that trade between the two countries would suffer “difficulties” in repayment, as a result of the exclusion of several Russian banks from the SWIFT system for financial transactions.
But the Russian ambassador stressed that this measure, which came as a Western response to Russia’s military intervention in Ukraine, affected “less than ten of the 300 banks that are part of the Russian banking system.”
According to the head of the Russian diplomatic delegation in Rabat, Moroccan exports to Russia show a positive trend, as they increased in 2021 by 10.8% compared to 2020, and amounted to 435 million dollars.
These exports are mainly food and agricultural raw materials (46.7%), textiles and footwear (33.8%), machinery, equipment and vehicles (15.3%), metals (2%) and metals and their derivatives (1%).
Similarly, the Russian ambassador explained that Russian exports to Morocco recorded a “record growth”, rising at the end of 2021 by 58.5% compared to the previous year, exceeding 1.2 billion US dollars, which represents the best value among all African countries.
Morocco imports mainly mineral products from Russia (61.8%), as well as chemical and rubber products (27.2%), minerals and their derivatives (5.5%), food products and agricultural raw materials (3.4%), wood, cellulose and paper (1.2%), machinery and equipment and compounds (0.8%).
Regarding Russian investments in Morocco, the Russian diplomat added that the two countries are in the process of developing several joint projects, especially in the automobile and electric energy sectors.
The new framework for bilateral relations was defined during the visits of Moroccan King Mohammed VI to Moscow in 2002 and 2016, when the Declaration of Strategic Partnership and the Declaration of the Deep Strategic Partnership between the two countries were signed.
In addition, several bilateral agreements in the fields of marine fishing, scientific and technical research, space and communications technology were signed in October 2017 during the visit of Russian Prime Minister Dmitry Medvedev to Rabat.
Morocco did not join its Western allies in condemning Russia’s “military operations” in Ukraine, but on several occasions it reiterated its call for dialogue to end the conflict.
On March 2, the Maghreb country decided not to participate in the vote on the UN General Assembly resolution condemning Russia’s military intervention, a circumstance that, according to the African country, “cannot be subject to any interpretation”.
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