First Independent Mena Newspaper
Morocco welcomed the creation by the African Union Commission (AUC) of the Africa Inclusive Markets Excellence Centre (AIMEC) which will have a key role to play to help African economies recover from the pandemic impact, Foreign Minister Nasser Bourita said. Inclusive business is conducive to post-Covid economic recovery, said Bourita on the sidelines of the […]
Marrakech will be the venue for the 24th General Assembly of the World Tourism Organization (UNWTO), an event that marks the beginning of the recovery of a sector hit-hard by the pandemic. A deal was signed between Moroccan Tourism Minister Nadia Fettah Alaoui and UNWTO Secretary General Zurab Pololikashvili. The Moroccan Minister highlighted that the […]
Morocco seeks to curb the imports bill by 34 billion dirhams ($3.7 bln), as part of measures to promote local production, head of the government Saad Eddine El Othmani said. The measure will help cut the cost of imports from 183 billion dirhams to 149 billion dirhams by 2023, he told MPs. Within the context […]
Despite challenges posed by the pandemic to international trade, Moroccan ports handled 92.5 million tons in 2020, that is a 5.1% rise compared to a year earlier, the national ports agency said. Imports rose 4.4% to 56.1 million tons due notably to a rise in cereal purchases by 33.4%, sugar (+8.9%), animal feed (+3.4%), coal […]
Turkish ready-to-wear stores operating in Morocco are looking for local suppliers after Morocco raised customs duty on clothes imports from Turkey. Defacto’s Morocco country manager Hassan Avsar said the company has already started textile production in Morocco. LC Waikiki is following suit seeking local suppliers for their stores, Medias 24 reported. This is a direct […]
The European Bank for Reconstruction and Development (EBRD) announced on Friday a €20 million risk-sharing facility (RSF) to enable Attijari Bank Tunisia, a subsidiary of the Moroccan Attijari Wafabank, support Tunisian small businesses to gain better access to financing. Since the outbreak of the coronavirus pandemic, existing challenges to access funding and liquidity have become […]
Morocco and Israel are set to exchange visits of high-level delegations in February to finalize the terms of cooperation agreements in various areas. The issue was discussed in a phone call Friday between Moroccan Foreign Minister Nasser Bourita and Israel’s National Security Adviser Meir Ben Shabbat. During the phone call, which takes place within the […]
Morocco and the USA have partnered to launch in the Beni Mellal-Khénifra region a socio-economic development program worth $18 million. The program is meant to promote an inclusive development of the region (North-central Morocco), with focus on the creation of economic opportunities for women, young people, people with special needs, and rural populations. The “Inclusive […]
The pandemic and the restrictive measures related to it have taken a toll on Moroccan firms with 38% having been forced to cut staff while 8% have suspended activity waiting for better conditions, Morocco’s statistics agency (HCP) said. Some 83% of all enterprises maintained business despite Covid-19 while 2.2% halted activity all together, the agency […]
The European Investment Bank (EIB) will support income-generating microcredit activities in Morocco with a €10 million loan. The loan to be extended to the financing company of microfinance organizations “Jaida” will strengthen the company’s capacity to finance microfinance institutions in Morocco and support its action meant to promote financial inclusion and social development, said a […]