A proud member of the Arab, Islamic and African family, Morocco is keen to continue exchanging experiences in various fields, and putting its expertise and qualified human resources at the disposal of its friends and sister nations, stressed king Mohammed VI.
In a message addressed to participants in the Annual Joint Meetings of Arab Financial Institutions, which kicked off Saturday in Rabat, the Sovereign affirmed that “I cannot imagine my country’s progress and development without that of our Arab and African brothers and sisters”.
The Kingdom of Morocco has embarked on several joint projects aimed at strengthening Arab and African economic integration, added the Sovereign in this message, which was read by the Head of Government, Aziz Akhannouch, citing as an example the gas pipeline project between Morocco and Nigeria, a strategic project that seeks to promote peace and shared development and enhance energy security at continental and international levels.
On this occasion, the king commended the support provided by regional and international financial institutions, which have contributed to financing the studies relating to this promising project and expressed their willingness to contribute to the implementation of this major, continental structural project.
The Sovereign also expressed His sincere thanks to Arab financial institutions for supporting economic and social development in the Kingdom of Morocco by continuing to fund development and investment projects and provide technical assistance in various domains.
The king praised the efforts made by Arab financial institutions to provide “financial support to our Palestinian brothers”, while calling on them to continue backing the development process in Palestine and supporting the steadfastness of the Palestinian people.
The Sovereign also indicated that Morocco, which has the privilege of hosting this event for the sixth time, confirms the special interest it attaches to joint Arab action, noting that this annual meeting of Arab financial institutions is an essential event that allows to take stock of what has been achieved and to commend their meritorious contribution to the general development effort.
“They also give participants the chance to anticipate what is at stake in a rapidly changing world, and to exchange views on ways to support Arab countries’ efforts to address related key issues,” underlined the king.
The Sovereign added that the Annual Joint Meetings of Arab Financial Institutions for the year 2023 are being held in a climate of instability and uncertainty as far as the performance of the global economy is concerned.
“This is due to the continuing repercussions of the Ukrainian crisis, international geopolitical tensions and the ensuing exacerbation of growing inflationary pressures, the tightening of credit terms and the growing risks associated with banking crises, not to mention disturbing and accelerating climate changes, which negatively impact the prospects for economic growth and market stability on a global scale,” stressed the king.
Given the dangers these rapid developments pose to energy and food security in the medium and long terms, the Sovereign added, “we clearly need to continue pooling Arab development efforts, adapt development strategies and programs, and make sure they fulfil the aspirations and needs of Arab citizens, especially our youth”.
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