Morocco recorded a significant increase in Foreign Direct Investment flows, according to Minister of Industry and Trade, Ryad Mezzour.
In the last decade, FDIs to Morocco went from MAD 97 billion between 1991 and 2000 to MAD 350 billion in 2011 to 2020, announced the minister this Monday.
This five-time increase is highly significant and is expected to continue evolving in that direction.
During a questions session in the House of Representatives this Monday, Mezzour spoke of the “pros and cons” of free trade agreements, and highlighted the government’s protective measures, to ensure the safety of the national economy in the face of foreign competition.
Mezzour said that Moroccan exports to the United States recorded an annual growth rate of 16%, while trade with The Arab League member states noted a 13% spike in the last year, and to Arab Mediterranean countries increased by 16%.
Moroccan exports to the United Arab Emirates alone increased by 12%, while imports from the UAE rose 30%, and 6% with the EU.
The official said that his ministry “is working for the benefit of national companies, especially small and medium ones, to benefit from the various advantages free trade agreements can offer.”
The minister highlighted the enlargement of Moroccan companies’ customer base, a direct effect of free trade treaties, which Morocco has been slowly implementing since the 80s.
In regards to the national industrial sector, Mazour said that the government’s aim is to accelerate the growth and development of the sector, as his ministry and other governmental bodies are working on implementing “a program aimed at making employment the main focus of public policies, with an ambition of creating 400,000 jobs.”
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