Morocco’s phosphates and fertilizer producer, OCP, has been awarded the Top Performers distinction by rating agency Vigeo Eiris. This award is an international recognition of the Group’s leadership in sustainable development. Vigeo Eiris ranked OCP 3rd in the world in sustainability performance among 206 companies in the Mining & Metals sector; and 1st in the […]
Business
Morocco, Israel set to unlock full potential of economic ties
Morocco and Israel agreed to resume their diplomatic ties in a move that is set to open new horizons for economic ties between the two countries. In the absence of diplomatic ties, trade between the two countries was limited to an annual 30 million dollars, a figure that will double now as the two countries […]
Russia’s fisheries agency chief discusses cooperation with Morocco in Laayoune, Boujdour
Head of Russia’s fisheries agency Saturday carried on his tour of the major cities of the Sahara with a visit to Boujdour. After a trip to Laayoune, Thursday, Mikhail Tarassov went to Boujdour on Saturday where he visited the city’s port and its industrial zone, mainly dedicated to fishing-related activities. The Russian official met with […]
A Moroccan-Israeli Trade Chamber in 2021 ?
A Moroccan-Israeli trade chamber will reportedly open its doors in 2021. The announcement was made by Israel-France Chamber of Commerce & Industries (CCIIF) on its website “Israel Valley”. The announcement comes few days following Morocco’s sovereign decision to resume diplomatic relations and air links with Israel. The Israeli-Moroccan trade chamber project will be discussed by […]
Belgian VM Steel makes foray in Morocco to conquer Africa
VM Steel, a Belgian stock-listed exporter of a wide range of steel products has launched a subsidiary, VM Steel Maroc, in Morocco from where it aims to conquer the African continent. The subsidiary is the first international branch of the Belgian steel giant. “The choice of Morocco is not due to chance. Morocco is indeed […]
Morocco expects 200,000 Israeli tourists next year
The number of Israeli tourists visiting Morocco is expected to rise from 50,000 to 200,000 as the two countries prepare to launch direct air links. Speaking to Israeli TV I24, Morocco’s tourism minister Nadia Fettah Alaoui confirmed the estimate, highlighting the bonds between Moroccan Jews in Israel and their ancestral land. The opening of direct […]
IFC provides Morocco’s Fez-Meknes Region $30 Mln for roads projects & Covid-19 response
The International Finance Corporation (IFC) supports Morocco’s Fez-Meknes region road projects and covid-19 response with a $30 million funding. Ten million dollars will be used for the purchase of disinfection and sterilization equipment, which will be used to sanitize public places. The remaining $20 mln will support the region’s plan to expand and upgrade […]
WB lends Morocco $250 mln to finance innovative agricultural projects
The World Bank said it has approved a $250 million loan in support of Morocco’s Green Generation plan that aims at doubling agricultural output by 2030. The World Bank said the financing is offered in cooperation with the French Development Agency (AFD) to promote profitable agricultural activities as well as environment friendly practices and sustainable […]
Morocco’s Central Bank upset at Fitch rating unprofessional move
The degradation of Morocco’s credit rating by Fitch on the eve of a Moroccan issuance of an international bond is unprofessional and unethical, said central bank governor Abdellatif Jouahri. Fitch has recently downgraded Morocco’s credit rating from investment grade to junk ahead of an international bond worth 3 billion dollars sold by Morocco earlier this […]
Morocco-Africa trade: Average annual increase of 6.1% between 2009 and 2019
Trade between Morocco and the rest of Africa showed an average annual growth of 6.1% over the period 2009-2019, according to “Al Maliya”, the magazine of the Moroccan Ministry of Economy & Finance. The share of this trade in the Kingdom’s overall trade volume stood at 5.1% in 2019, according to data from the Foreign […]