Business / Trade in Morocco
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BOTSWANA, 2017/07/14
Access to data across African economies, which has been hindered by the fragmented nature of the respective markets, is currently threatening a $400 billion intra-Africa trade potential.
Africa Export-Import Bank (Afreximbank) said the present transactions price at $170 billion remained their due to wide gap in market data, which presently needs to be closed to foster accelerated trade integration.
Meanwhile, the size of intra-African trade could be doubled from the current level of about $170 billion per year to almost $400 billion by addressing the issue of availability of market data on the continent.
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EGYPT, 2017/07/09
King Mohammed VI has been practically living in Africa in the last few years moving from one country to an extra to propose development programs and cooperation ventures in a transparent win-win approach. So, at the same time as on re-admission of Morocco in the African Union in the Addis Abeba summit on January 31, 2017, he declared with tears in his eyes, to be happy to be back home. The truth of the matter he has always been home though not officially, hoping on his Boeing 747 from one country to an extra bringing bounty and goodwill.
What is additional, for a lot of African Muslims, disciples of the Tidjane Sufi order, Mohammed VI is additional than a temporal leader of a northern country, he is a religious symbol bearing the traditional title of amir al-mu’minin “Commander of the Faithful” of the Islamic community of Africa.
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CASABLANCA, 2017/07/01
A decision made before this month by the Economic Community of West African States (ECOWAS) to acknowledge in principle to Morocco’s request to join the union could allow the kingdom to further expand its trade ties in West Africa, leveraging its strong relations with the EU and a growing industrial base.
While none of the members of the 15-country bloc share a border with Morocco, its accession would allow it to reap the benefits of free trade and movement of people with other ECOWAS states, which have a combined GDP of around $562.2bn, according to IMF data.
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BOTSWANA, 2017/06/24
Trade between African nations has long been outstripped by intra-regional trade in other parts of the world – for Africa as a whole, intra-regional trade is between 10% and 13% of total trade. This is far lower than in regions such as the EU, where about 60% of trade is between member states, and the Association of South-east Asian Nations, which has a rate of about 25%. Intra-regional trade in North America is put at about 40%.
However, the ratification of the Tripartite Free Trade Sector(TFTA) – potentially later in 2017 – could help change that and push the development of additional intra-regional trade increase. A pan-regional free-trade zone, the TFTA stretches from Cairo to Cape Town and encompasses 26 African nations.
Africa’s Tripartite Free Trade Area would reduce regional tariffs and create a pan-African single market, to aid development and cash in on a growing middle class in the continent. But with member countries often belonging to multiple economic areas, progress is both complex and slow, as Kit Gillet reports.
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BOTSWANA, 2017/06/15
Importers have threatened to increase the prices of goods if the government implements the 0.2% import tax to fund the AU.
Mr Samson Awingobit Asaki, Executive Secretary of the Importers and Exporters Association, told the Ghana News Agency that the implementation of the tax would increase the cost of operation for importers.
Mr Asaki added that at the same time as it happens like that, they would have no other choice than to transfer the cost onto the prices of goods for the consumers.
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MADAGASCAR, 2016/11/28
Morocco has donated Madagascar a batch of security equipment to help Madagascar shore up security at the Francophonie Summit, held in Antananarivo this November 26-27.
The scanners, metal detectors and other security equipment were installed in the Ivato center in the capital Antananarivo instantly next the arrival of the Moroccan military cargo ship.
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CASABLANCA, 2016/06/28
With growing economic prosperity and continuing political stability, Morocco continues to attract foreign investors. With an increasing focus on encouraging international commercial dispute resolution in Casablanca, the country is seeking to present itself as a business hub, as law firms push to open up in the region. Natasha Mellersh reports.
For Morocco, its proximity to Europe has been significant throughout its history. The late King Hassan of Morocco described Morocco as “a tree whose roots reach deep into the African soil and whose leaves breathe in the winds of Europe”.
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BOTSWANA, 2016/05/13
The collapse of virtual borders is one of the majority remarkable things to have happened in our lifetimes. In the world of cyberspace, time and distance have become almost peripheral considerations at the same time as it comes to doing business. Services from software development to accounting can be delivered across the world in the blink of an eye. Next business leaders will struggle to imagine an era at the same time as communication was neither immediate nor virtually free.
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CHINA, 2016/05/12
Chinese President Xi Jinping and King Mohammed VI of Morocco signed a joint statement on establishing a strategic partnership between the two nations.
They signed the statement next talks at the Great Hall of the People, Beijing.
The strategic partnership will be a milestone for the development of the bilateral ties and bring new opportunities for bilateral cooperation in all areas, Xi said.
He added that China always attaches high importance to relations with Morocco, and will steadily support its efforts to maintain national stability and promote social and economic development. China as well appreciates Morocco's adherence to the one-China policy and its support on major issues concerning China's core interests.
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CHINA, 2016/05/12
China has proposed a free trade agreement with Morocco, according to a statement by the local news source Les Eco.
The national-run press agency of the People’s Republic of China (PRC) said the two nations “are on track to conclude a series of strategic agreements covering the economy, trade, and investments in Africa.”
News of the proposition comes less than a week next King Mohammed VI gave a speech at the joint Gulf Cooperation Council (GCC) summit in Riyadh, during which he said Morocco was looking to “diversify” its economic and political relationships by seeking stronger partnerships with major Asian nations, such as China and India.
