News central:  Morocco, a regional hub for trade, investment - Ambassador

Morocco, a regional hub for trade, investment - Ambassador
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redaction on 08/09/2010 22:00:00
 
London - Morocco is uniquely positioned as a regional hub for trade, investment,
redistribution, and IT services (nearshoring), said, on Wednesday, Morocco's
Ambassador to the UK, Chrifa Lalla Joumala Alaoui
Morocco's closeness and vicinity to the EU, Middle East and the rest of Africa
should not be disregarded, the Ambassador said in a conversation with the
British daily the Financial Times, adding that Morocco is becoming a "regional
platform" for companies seeking to expand their business and develop
successfully and profitably mid and long term partnerships.
"The UK-Morocco link is a particularly important component of this vision,"
Cherifa Lalla Joumala Alaoui said.
Trade between Morocco and the UK has tripled over the last 10 years, the
Moroccan diplomat said, noting that the UK is currently Morocco's 5th client and
its 9th supplier.
"We believe that the United Kingdom is a market with great potential for
Moroccan products," she said, adding that "this is the vision we had in mind
when we launched annual trade meetings with our major UK partners."
Touching on the meeting held in London earlier this summer in collaboration with
Morocco's export promotion agency "Maroc Export", the Ambassador said that
similar meetings will now be held elsewhere in Europe, Africa, and North
America.
Chrifa lalla Joumala underscored the reforms launched in Morocco during the last
decade of the reign of HM King Mohammed VI, adding they have been implemented
"as part of a consistent strategy" aiming to achieve a sustainable, strong
economic growth and to improve the well-being of all Moroccans.
Under the leadership of His Majesty, Morocco has established a sound
macroeconomic framework which provides stability and
visibility to our partners, the diplomat said, adding that the Kingdom also
improved the environment for doing business and the microeconomic foundations
for competitiveness.
"We have rolled highly focused, sector-specific growth strategies in key areas
of the country's economy, including energy, water, manufacturing, agriculture,
trade and tourism," she said.
A focused crisis mitigation effort, stable exchange rate, low inflation and
attractive trade agreements have allowed Morocco to achieve the highest GDP
growth rate in the region, added the Ambassador.
In this respect, she recalled the Advanced Status enjoyed by Morocco in its
relations with the EU and the upgrade of Morocco's "S&P" (Standard & Poor's)
credit rating to "investment grade".
Concerning Morocco's value proposition, the diplomat underscored the modern and
efficient infrastructure, competitive resources and specific sectorial
incentives.
In this respect, Chrifa lalla Joumala highlighted the "Pacte Emergence" for
industry and services, saying that this pact provides state-of-the-arts
platforms in the aerospace, automotive, offshoring and outsourcing industries.
She also drew attention to the green Morocco plan and Halieutis which aim to
foster Morocco's agriculture growth and its fisheries in addition to the Azur
plan for tourism.
"Close to ten million tourists are expected to visit Morocco in 2010, more
recently we witnessed the effective launch of the "Solar Energy Plan"
positioning Morocco as a leader in renewable energies," the Ambassador said.
The ambassador showcased the development of Morocco's motorways network which
will soon extend to 1800 km along with North Africa's first TGV high-speed
train, linking Casablanca, Rabat and Tangier by 2015 and Marrakech by 2018, said
the Ambassador.
She stressed the importance of the Tangier Mediterranean port, the region's
largest high-tech facility that includes a deep-sea harbor, logistics platform,
industrial and commercial free zones and rail and highway links.
Chrifa Lalla Joumala Alaoui recalled that Morocco managed to limit the financial
crisis' impact on its economy, stressing the north African Kingdom's endeavor to
foster competitiveness, modernize the productive sectors and improve products
diversification.
"Diversifying our offer and increasing market accessibly and regional
integration with Europe the United States and North and Sub-Saharan Africa are
priorities," she underlined, pointing to Morocco's efforts to modernize the
stock market, ease the availability of credits, and revise laws that regulate
corporations.
A growing number of Moroccan businessmen and women are enthusiastic about the
possibility of diversifying and expanding the range of their partners, Chrifa
Lalla Joumala Alaoui added, saying she is "both encouraged and optimist" about
the future.
Source: MAP