Fitch Solutions

Morocco set to reduce its industrial trade deficit

Morocco has launched an ambitious plan to cut its trade deficit by $3.7 billion by offering incentives to local investors to produce imported goods locally, Morocco’s trade minister said. So far 731 industrial projects were eligible for state subsidies, of which 90% will be funded by a Moroccan capital, minister Riad Mezzour told MPs. Most […]

Morocco & Indonesia Negotiate Trade Agreement in November

Indonesia and Morocco agreed to start negotiating a preferential trade agreement (PTA) in November to increase trade volume, the Jakarta Post reported. The agreement was reached at the second Indonesia-Morocco Joint Commission Session in Jakarta last Friday. The two countries’ delegations were led by Indonesian Deputy Foreign Minister AM Fachir and Mounia Boucetta, the secretary […]

Somalia’s banking: Turkish and Egyptian banks issued first post-war licenses

Central Bank of Somalia (CBS) has recently granted its first two foreign banking licenses — to Turkey’s Ziraat Katılım bank and Egypt’s Banque Misr — in decades as the country seeks to rebuild its financial sector and attract international investment. Both state-owned financial institutions were approved by Somalia’s central bank at the start of July. […]