Korean ambassador in Morocco, Choi Jai-Chu has called for sealing a Free Trade Agreement between the two countries, to help boost trade exchanges and investment opportunities in both countries. Morocco and South Korea need to beef up trade exchanges to reach 1 billion dollars in the coming five years, and 'a Free Trade Agreement would be instrumental in reaching this objective,' Choi said in an interview with French- language daily, Le Matin, published on Monday. 'With such an agreement, Korea and Morocco can take advantage of their economic and investment-related complementarity,' Choi said. He noted that bilateral trade exchanges have reached 564 million dollars in 2008, while Morocco's exports to his country grew 73 percent from 2007 to 173 million dollars. The diplomat said that, since 2006, Korea earmarks 2.5 million dollars a year to pursue development projects in Morocco mainly in the fields of information, vocational training and automobile. Choi deplored that Morocco's potentials are not known to the Korean businessmen, announcing that, to remedy this situation, he will organize a seminar in Rabat in the coming months to gather experts in economic development strategy and businessmen from both countries. Recalling that his country has become an emerging economy in a period of 30 years, the Korean diplomat said Morocco has the potentials to become a major economy in the region of North Africa. Morocco and South Korea established diplomatic relations in 1962, and are due to celebrate, in 2012, the 50th anniversary of these relations. 