Morocco announced on Friday that it has adhered to the World Trade Organization (WTO) “Investment Facilitation for Development” joint initiative.
The Initiative, launched for the first time at the December 2017 WTO Ministerial Conference in Buenos Aires, aims to create an efficient, predictable and investment-friendly business climate. This is to facilitate the establishment of investor operations, the carrying out of their daily activities and the expansion of their investments.
Another objective is to foster international cooperation to facilitate investment and help developing and least developed countries to attract investment.
Speaking during a virtual meeting of the informal group of this initiative from Geneva, permanent Representative of Morocco in Geneva, Ambassador Omar Zniber recalled the Kingdom’s attachment to multilateralism and the need to strengthen international cooperation in matters related to investment promotion, particularly in the context of the current crisis.
He also stressed the importance of this initiative in meeting several development challenges in all countries, both developing and developed, notably in the current context.
“By joining this initiative, Morocco underlines not only its adherence to the multilateral trading system but also its conviction of the key role of private and public investment to achieve the objectives of sustainable development”, affirmed Zniber, recalling that the Kingdom has ratified several international conventions relating to the guarantee and protection of investments, which have had a positive impact on our national economy.
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