EU carbon tax, a chance for Moroccan industry to boost competitiveness- Minister

The EU’s carbon tax, agreed recently, is a chance for Moroccan industry operators to enhance their competitiveness.

“We should not look at this measure as a burden on our industries. It is rather an advantage to overcome competition,” Minister of Industry and trade Ryad Mezzour told local media le360.

EU governments reached a deal over the carbon border tax as part of the bloc’s efforts to make its economy carbon-neutral by 2050.

The measure will apply first to iron and steel, cement, aluminum, fertilizers, electricity production and hydrogen before being extended to other goods.

“Multinationals are already engaged using their own means to reach zero carbon goals,” Mezzour said, noting that “Renault factory in Tangier has a carbon footprint close to zero.”

He said his department is supporting funding for low-carbon transition of small and medium enterprises.

Renewable energy represents 38% of Morocco’s installed capacity in 2022 as the country aims to bring the share of clean energy in its energy mix to 52 before 2030.