Morocco: Tanger-Med’s success story highlighted at WB-IMF Annual Meetings
The success story of Tanger Med, considered today as the first port infrastructure in the Mediterranean and Africa, was highlighted at the annual meetings of the World Bank and the International Monetary Fund held in Washington.
Speaking at a panel focused on the “contribution of trade in the post-Covid recovery”, Director General of the Tanger-Med Port Authority (TMPA), Mehdi Tazi Riffi, stressed that this global logistics hub, located on the Strait of Gibraltar, is the culmination of a vision of King Mohammed VI, to position Morocco among the best free trade platforms internationally.
The royal vision is based on two major pillars, namely to ensure the link between international trade at the level of the Strait of Gibraltar given the significant trade flow, in addition to developing a platform of competitiveness for businesses and multinational companies located in the area, he explained.
The purpose is to establish Morocco as a “key base” for global exports, said Tazi Riffi, noting that Tanger Med, now connected to more than 180 global ports, is the “hub” for nearly a thousand export-oriented companies.
This regional competitiveness facility also generates more than 80,000 jobs mainly focused on industrial and logistics activities operated by international players of reference in sectors such as aerospace, automotive, textiles, logistics and electronics, he noted, adding that the French car manufacturer Renault has been able to export, so far, nearly two million cars from its largest assembly site in Africa.
Citing the United Nations Conference on Trade and Development (UNCTAD), Tazi Riffi said that in terms of maritime connectivity, Morocco is now a “very important” stakeholder in world trade.
Tazi Riffi, who referred to the prospects for logistics, noted that there is a “strong” business opportunity offered by the African Free Trade Area Agreement, especially with regard to its logistical aspect.