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 Morocco expands economic influence in Africa in 2016

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Join date : 2015-02-19

PostSubject: Morocco expands economic influence in Africa in 2016   Thu Dec 29, 2016 2:38 am

Morocco expands economic influence in Africa in 2016

December 29, 2016

Economists said the Moroccans for "Arabs" The year 2016 opened many economic prospects for renewable relations between Morocco and Africa, and expected to enter many areas of economic development and investment in the coming years.

Morocco and expanded economic and financial clout to the Pan-African after he was confined to the west of the continent, thanks to a series of visits by Moroccan King Mohammed VI, which strengthened the strategic partnership with the countries of the continent.

The Moroccan Younes Bfilah economic researcher for "Arabs" that convergence is an opportunity for the development of economic relations with African countries, which represents the strategic depth of Morocco by signing economic and trade agreements.

The most significant agreements the project to build a pipeline to transport gas between Nigeria and Morocco, which can stretch its horizons to export gas to European countries.

He Bfilah "The line is one of the most important African projects in the current decade, and will bring in foreign investments lead to significant shifts in the natural resources available to invest heavily in local and global markets."
The most prominent economic stations

The year saw the signing of Morocco and several East African countries of agreements, including an agreement with Tanzania 18 and 13 agreement and a memorandum of understanding with Ethiopia and 14 agreement with Nigeria protocol. In all, the number of agreements signed between Morocco and several countries of the continent agreements amounted to more than 500 agreement.

Investments amounted Sadkhha by Morocco in Tanzania about two billion dollars worth, and invest $ 3.7 billion over the next five years to build a huge complex for the production of agricultural fertilizers, Ethiopia.

Murad said Zenasna, Professor of Economics and Management Faculty of Nador for "Arabs", "The Sharif office of the Moroccan OCP Group has developed a proactive strategy to support Africa's agricultural development by providing the least expensive fertilizers and better able to adapt to the crops and the African soil.

The expected economic Observatory for the Middle East and North Africa, the emergence of new determinants of growth in export industries and the expansion of the Moroccan companies in West Africa, is likely to create the conditions for Morocco to become a trade and investment center between Europe and Africa.

The shape of the European Union dropped by the Supreme Court's decision to the partial cancellation of the agricultural agreement with Morocco, and rejected the appeal submitted by the Polisario Front, to give a new impetus to trade and political relations between Morocco and the EU.

Morocco has sought throughout the year, to attract more investment in the sectors of aerospace, automotive and other industry, where a group of foreign companies announced new investments in the country thanks to a stable business climate compared to the rest of the region.

According to scientific Hafeez, Minister of Industry and Trade and digital technology, the automotive and aircraft industry, has enabled Morocco to provide around me 160 thousand new jobs this year, at a time when the government does not only provide 75 thousand industrial jobs over the past ten years.

He noted economist Alhmada satisfaction that Morocco was able to bring a group of foreign investments along the lines of The Boeing Company for the manufacture of aircraft, which will provide about 150 thousand jobs by 2020.

The announcement was made in November, for investment projects in the automotive industry in Morocco, worth $ 44 million, and people will occupy 2122 annual revenues estimated B226 million.
Younis Bfilah: Africa represents a strategic depth to promote economic growth in Morocco

Assuming full implementation of comprehensive reforms agenda work, can the pace of economic growth to accelerate and exceed an average of 3.5 percent down over the medium term, as confirmed by the Economic Observatory for the Middle East and North Africa.

Despite all these moves, but the economic activity affected agricultural season is encouraging affected him several sectors fell with the public treasury income due to the drought that affected the north of Africa.

Experts said the Moroccan economy has been hit hard because of the drought that occurred last year, impacted negatively on the level of grain production in the current season, and pointed out the emergency plan drawn up by the authorities to save the livestock and the protection of plant resources.

The government decided earlier this year, allocating $ 450 million for anti-entrapment scheme rain effects, as well as compensation valued at $ 125 million, but it seems that such a move is not enough to save the agricultural season.

In an effort to implement his vision, Morocco prepares to launch a project to float DRAM next year, after months of consultations between the Ministry of Finance officials, the economy and the central bank was broken by official talks with the International Monetary Fund.

Analysts say the reassuring message sent by the Fund to Morocco after he decided to edit the local currency exchange rate reflects the strength of the financial system of the country, thanks to the policy pursued by Morocco's King Mohammed VI to accelerate the development of growth indicators.

Bank of Morocco and is expected to grow in 2017 jumps to about 4.2 percent due to the strategy followed in all sectors, especially agriculture.

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