2024-05-20 09:50:19
Financial integration in Africa constitutes a precedence for Morocco, affirmed Mr. Amrani throughout a spherical desk organized, Monday in Washington, by the Heart for Strategic and Worldwide Research (CSIS) on the renewal of the Regulation on Development and Financial Alternative in Africa (AGOA).
Though it isn’t a member of AGOA, Morocco, he recalled, is linked to america by a free commerce settlement which has “allowed our two international locations to construct, over the course of those twenty years, an revolutionary, virtuous partnership with promising prospects”.
“Morocco firmly believes within the transformative energy of free commerce, as a catalyst for the prosperity of countries and the creation of socio-economic advantages,” indicated the ambassador of HM the King, specifying that the settlement of Free Commerce Settlement (FTA) between america and Morocco has performed a central function in increasing enterprise alternatives, selling commerce, and creating 1000’s of jobs in each international locations.
Because the FTA took impact in January 2006, commerce between america and Morocco has elevated considerably, inserting the Kingdom because the fourth largest buying and selling accomplice of america in Africa. The quantity of American direct investments is experiencing the identical dynamic of development, as evidenced by the presence of a lot of firms working in numerous revolutionary sectors.
In his intervention throughout this assembly through which ambassadors and eminent consultants took half, the Moroccan ambassador additionally famous the significance of the synergy between the African Continental Free Commerce Space (AfCFTA) and the AGOA.
“As we speak, with the implementation of the AfCFTA, our continent will supply American companies a bigger market of over a billion folks with a GDP of roughly US$2.6 trillion,” he stated. -He underlines.
Whereas recalling Morocco’s fixed dedication to such initiatives geared toward selling larger regional integration, the ambassador of HM the King reaffirmed the Kingdom’s willingness, throughout the framework of South-South cooperation, to share its expertise to strengthen the export capacities of African firms and improve commerce with america.
For instance this dedication, he stated, a mechanism was lately applied with the signing of a memorandum of understanding final October with the African Export-Import Financial institution (Afreximbank) meant to develop a program promotion of Morocco-Africa commerce and investments of 1 billion {dollars} to advertise intra- and extra-African commerce, notably via the implementation of business info and advisory companies.
Mr. Amrani lastly highlighted HM the King’s Initiative geared toward enhancing the entry of Sahel international locations to the Atlantic Ocean, stressing that its advantages will assist promote the financial improvement of the area and improve its participation within the worldwide commerce.
2024-05-20 09:50:19