Options for Mutual Trade Settlements between Russia and Morocco

Deputy head of the Russian-Moroccan Business Council Raja Chafik Al-Ali said that Russia and Morocco are discussing various options for mutual trade settlements, including in national currencies and in the barter system.

The Three Options Identified

The official said in an interview with the Novosti agency: “This issue was discussed at our meeting with Moroccan partners, and three options were identified. The first is settlements in the currencies of other countries, and today we work through the UAE and pay in dirhams, but ensuring the security of settlements requires more than one formula, and the second option is a barter system.”

He explained that barter trade could generate interest not only in Morocco, but throughout Africa, since “there are goods on the continent, but no money.”

“The third option is settlements in national currencies,” he added.

Morocco as an Important Trade and Economic Partner

It is noteworthy that the Kingdom of Morocco is considered one of the most important trade and economic partners of Russia in Africa and the Arab world.

Source: “News”