70 million euros (770 million dirhams) to finance the assistance program for the agricultural sectoral policy.

Morocco and the European Union signed, on Friday in Rabat, an agreement worth 70 million euros (770 million dirhams) to finance the assistance program for the agricultural sectoral policy.

This new program will support the implementation of the Moroccan Green Plan benefitting the rural zone, notably the solidarity-based agriculture sector which includes 800,000 farmers and covers 10% of the usable agricultural land.

The agreement was signed by Economy and Finance Minister Salaheddine Mezouar, Agriculture and Fisheries Minister Aziz Akhannouch and the head of the EU delegation in Rabat, Ambassador Eneko Landaburu.

The assistance program for the agricultural sectoral policy will span three years and target the eastern region as well as the regions of Draa, Boulemane and Tafilalet.

It is aimed at gradually upgrading the industries of red meat, date palms, olives and other local products mainly truffles.

This will help ramp up production, improve farmers’ income, create job opportunities and promote the quality of processed products.

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[1] Morocco and the European Union signed, on Friday in Rabat, an agreement worth 70 million euros (770 million dirhams) to finance the assistance program for the agricultural sectoral policy.

 


Archives pour la catégorie Press

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.

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

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

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

Morocco’s phosphates and derivatives

Morocco’s exports of phosphates and derivatives stood at 29.29 billion dirhams(1 Dirham = 0.117 USD) up to late October 2010 against 15.65 billion dirhams last year, a 87.2% rise, according to Morocco’s exchange rate monitoring body « Office des Changes ».

 Phosphoric acid exports rose 67.7%, reaching more than 11.42 billion dirhams against 6.80 billion dirhams, with a volume up 26.9%.

 As to exports of natural and chemical fertilizers, they increased 5.42 billion dirhams, standing at 10.47 billion dirhams compared to 5.04 billion dirhams, with a volume up 41%, the office said.

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[1] Morocco‘s phosphates and derivatives exports up more than 87% at end Oct.

Morocco, AFESD sign over $ 200 mln financing agreement

Morocco and the Arab Fund for Economic and Social Development (AFESD) signed, on Thursday in Rabat, a 1.8 bln dirham ($ 214 million) agreement to contribute to the financing of the Tangier-Med II and Dar Khrofa dam projects.

 

The signing ceremony was presided over by Moroccan Economy Minister, Salaheddine Mezouar, Director General and President of AFESD’s Board of Directors, Abdellatif Youssef Al Hamad and President of the Executive Board of Tangier-Mediterranean Special Agency (TMSA), Toufiq Ibrahimi.

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[1] Morocco, AFESD sign over $ 200 mln financing agreement

Morocco,success story economically

Morocco is, in many ways, a « success story » economically, said Assistant Secretary of State for Economic, Energy and Business Affairs, José W. Fernandez, underlining that he was « very much impressed » by the economic growth achieved in the last few years and the opportunities that the country offers. »Morocco is, in many ways, a success story economically, » the American official told MAP in an interview, highlighting Renault Nissan’s announcement of a billion dollar investment project in Tangiers to produce cars which will be exported to Europe. Proximity to Europe was among the reasons that motivated the French firm’s choice, as they « believed the infrastructure would be built and would be able to support this investment, » underlined Fernandez, who will pay a visit to Morocco, on December 6-7, as a part of a Maghreb tour.Fernandez, who attended the World Economic Forum, held in Marrakech on October 26-28, underscored that « liberalization helped Morocco to compete, » noting that the kingdom enjoys « a great potential to export not just to the US but to Europe as well. » American investors would like to see better relations between Morocco and the US, as they believe there are great opportunities, he stressed, adding that he « would like to see more trade between Morocco and the USA. »Since the Free Trade Agreement came into effect in 2006, economic trade between Morocco and the US posted a 150% increase, reaching 2.3 billion dollars.In addition to Morocco, the American official will visit Libya, Tunisia and Algeria, where he will take part in a summit on the US-Maghreb entrepreneurship, the US Department of State announced on Wednesday.This tour aims to « promote entrepreneurship and deepen economic relations with the Maghreb, » the same source maintained.

 

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[1] Morocco, « success story » economically, American official says

Morocco,rural electrification

Morocco and the Saudi-based Islamic Development Bank (IDB) inked, on Tuesday in Rabat, several agreements worth 51.7 million dollars (around 410 million dirhams) to finance the last phase of the rural electrification program.

 The deals were concluded by Economy Minister Salaheddine Mezouar and IDB’s Chairman Ahmed Mohamed Ali. The signing ceremony was attended mainly by Energy Minister Amina Benkhadra and head of Morocco’s electricity facility (ONE) Ali Fassi Fihri.

 

On this occasion, Mezouar lauded the outstanding role played by the IDB in promoting Morocco’s socio-economic development and spurring its economic growth.

 

He also stressed that the Bank is a key-partner of Morocco, mainly in terms of carrying out social development programs, including the rural electrification program.The IDB’s chairman hailed the excellent relations between the north African country and the Bank, underlining the importance of partnership with the ONE which contributed to the rural electrification program in Senegal, thus bolstering Morocco’s crucial role in backing the development of the IDB’s Sub-Saharan member states.Since 1975, the funding of the Islamic Development Bank for Morocco totaled some 31 billion dirhams (3.8 billion dollars), invested notably in the sectors of agriculture, irrigation, rural electrification and drinking water.

 

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[1] Morocco,IDB sign $51.7mln-agreements to finance rural electrification project Morocco,IDB sign $51.7mln-agreements to finance rural electrification project

Moroccan economy was able to withstand the global crisis

The measures taken by Morocco to handle the global economic crisis enabled it to better manage its impact, Managing Director (MD) of the World Bank (WB), Sri Mulyani Indrawati, said on Monday in Rabat, commending the good performance of the Moroccan economy.

In a statement to the press following a meeting with Morocco’s Foreign Minister, Taib Fassi Fihri, Indrawati deemed as « positive » and « very good » the WB’s relation with Morocco. She expressed the Bank’s readiness to provide assistance to the Moroccan government for the implementation of social development projects. In a similar statement, Fassi Fihri said that his meeting with Indrawati was an opportunity to reaffirm the importance that Morocco attaches to the opening up of its economy and developing strong business relations with several countries around the world, including the European Union and the United States.The World Bank official shares the views of Morocco on the importance of effective integration of the Maghreb, which has unfortunately taken a long time to be achieved, Fassi Fihri added.During her stay in Morocco, Indrawati will meet with government officials as well as with representatives of the private sector and civil society.

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Moroccan economy was able to withstand the global crisis, World Bank MD says

Morocco :The Commission for the Protection of Public Property

The Commission for the Protection of Public PropertyThe National Commission for the Protection of Public Property in Morocco (INPBPM) is a  Rabat-based organization dedicated to safeguarding Morocco’s land resources and  heritage from corruption, misappropriation, or illegal monopolization by means of  “confronting those who are corrupt or corruptible regardless of  their social  StAtus

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