Morocco takes part in Crans Montana Forum Africa in Brussels

Morocco is taking part in the 33rd session of the Crans Montana Forum Africa , held in Brussels under the theme ”the world at the time of African economic sovereignty”.

The three days extraordinary session of the forum will discuss the construction of a new Africa-Europe partnership, security challenges, the strengthening of public health systems, the financing of public investment and the place of African women in the fight for food security.

Jean-Paul Carteron, president and founder of the Crans Montana Forum, said at the opening of the forum Thursday that this extraordinary session aims to “create an international network to support the efforts of African countries, which advocate a new roadmap, based on good governance, human development, innovation and the quest for economic sovereignty”.

“With the Covid19 pandemic, the war in Europe, the economic and financial crisis that is looming, the world is today in an extremely serious situation,” he said.

‘One of the first conclusions we draw from this situation is that the world is now at the end of this unbridled globalization and deregulation”, Mr. Carteron stressed, insisting that ”only good state governance can enable us to deal with this disruption and the multiple crises that arise”.

”Faced with the failure of the role of the international community to face the multiple difficulties which arise, Africa, which has directly suffered from the consequences of the crises, today needs to recover and impose itself,” he argued, adding that it is appropriate today to “reflect on how to transform resilience into opportunities for the continent to establish itself as a key player in international decisions.”

Treasurer General of the Kingdom of Morocco Noureddine Bensouda underlined in a presentation before a roundtable held in the framework of the forum that the development of Africa must rely on the conjunction of public and private funding.

“The State, the public sector, development banks, private capital and capital markets each have a fundamental role to play in financing the development of the African continent,” said Bensouda, explaining that in Africa, where the private sector is characterized by a certain concentration, the public sector must play the role of engine and propeller.

He stated further that various public policies conducted today in Africa need international financing, and noted that voices are being raised to call on rating agencies to take into account African realities.

It is appropriate, however, he said, “to be aware that there are efforts to be made on the institutional level, an efficient administration, public enterprises that properly manage the state’s money and a solid and credible financial and banking system that respects the main international principles in this area.”

These issues are fundamental insofar as capital is generally “fearful and goes where there is stability and security, where the aspects related to payment and foreign exchange reserves are well defined,” said Bensouda.

In the same respect, the Moroccan official called for “joint actions with international partners to integrate all these issues and allow Africa to benefit from the financing necessary for its development.”

He also emphasized the importance of “the effective management of public funds, the adoption of a vision of results, the proper use of natural resources in Africa, to make them levers of development.”

Moroccan Minister of Industry and Trade, Ryad Mezzour, who is partaking in the forum surveyed at the opening session Morocco’s choices and actions to ensure its development.

”In Morocco, which does not have large natural reserves, the decision was taken at the highest level of the State to promote action, to build infrastructure, to work over the long term and within the framework of plans, and to ensure that each generation builds for the next one, each time with visions extending over thirty years,” he underlined.

Morocco has opted for a strategy of openness, materialized by free trade or commercial cooperation agreements with more than 100 countries.

“Rather than being afraid of change, of spending too much energy trying to stabilize very unstable situations and balances, at the risk of leaving the essential aside, we must show ambition”, said Mr. Mezzour, explaining that Morocco has not taken the path of “passivity” but reached out to its partners to work together and bring out new economic poles.

The Crans Montana Forum is a Non-Governmental International Organization established since 1986. The Founding Fathers’ philosophy has always been to build a better World, “Towards a more Humane World”.

The Crans Montana Forum encourages international cooperation and works to promote best practices to ensure a permanent dialogue between all those who handle high-level responsibilities around the World.