Fund of 25 mln dollars allocated to promote trade

The Moroccan government has started to implement stimulating measures, aiming to promote trade and investment between Morocco and its African partners in 2011, notably allocating a $ 25 million fund, said, on Thursday in Ouagadougou (Burkina Faso), Morocco’s Foreign Trade Minister Abdellatif Maazouz. During a meeting that brought together Moroccan and Burkinabé decision makers, on the sidelines of the 3rd Caravan of Economic Partnership in Africa, Maazouz underlined that, as part of these stimulating measures, the flow of Moroccan private investment in Africa is being liberalized and many other actions have been taken, with a view to promote inter-African trade. Tackling south-south trade and its major impact on the growth rates posted by emerging economies despite the crisis, the minister stressed the need to further boost inter-African change. Analysts consider Africa as one of the main sources of global growth in the upcoming decades, with over one million inhabitants, a $1,600 billion GDP in 2008 and consumption worth $860 billion, he said, underscoring that Africa also comprises 60% of the uncultivated arable lands in the world. Recalling that trade between Morocco and Burkina Faso exceeded $ 25 million in 2009, he called for further reinforcing this trade and taking more initiatives to involve the private sectors of the two countries. In this regard, he called for signing the preferential trade and investment draft agreement, which was initialed late 2008 by Morocco and the West African Economic and Monetary Union (UEMOA), including Burkina Faso.







Fund of 25 mln dollars allocated to promote trade between Morocco and its African partners, Minister

Archive pour 10 décembre, 2010

Trade exchanges between US and Morocco

Trade exchanges between the United States and Morocco, bound by a free trade agreement, witnessed « a significant growth » over the past few years, American Assistant Secretary for Economic, Energy and Business Affairs José W. Fernandez said on Thursday in Washington.

The US official, who was speaking at a press conference following his tour in the Maghreb region, said that bilateral trade ties could be further boosted, highlighting the business opportunities offered by Morocco and the United States.

Fernandez called for bringing the two countries’ businessmen closer as part of the US-North Africa partnership for economic opportunity which was recently launched. Since the enforcement of the free trade agreement in 2006, the volume of trade exchanges between Morocco and the US increased by around 150% to reach 2.3 billion dollars in 2008.Morocco’s exports to the US rose by 99%, over the same period, to 879 billion dollars, according to figures provided by the US Department of Commerce. Washington



[1] Trade exchanges between US and Morocco witness ‘significant growth’, US official

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