First Independent Mena Newspaper
Morocco’s state-owned phosphates company, OCP, is planning to open subsidiaries in 13 African countries in line with the Kingdom’s strategy to boost economic ties and investments in the continent. As announced in the official gazette, the OCP’s board of directors approved the decision to establish 13 subsidiaries in the countries of Côte d’Ivoire, Senegal, Cameroun, […]
Morocco’s King Mohammed VI underscored that the greatest challenge thrown at Arab states lies in winning the battle for development, deeming that this goes through ensuring capacity-building, combating poverty and vulnerability and overcoming hurdles to inter-Arab economic and commercial cooperation. “The greatest challenge for us is to win the battle for development by making up […]
King Mohammed VI of Morocco made a strong case for reinforcing joint Arab action and unity in order to better address the multiple challenges facing stability, peace and development in the Arab region. This came in a speech readout on his behalf by Foreign Minister Salaheddine Mezouar at the Arab Summit on Monday in Mauritania’s […]
The African Development Bank (AfDB) commended Morocco’s commitment to economic development in Africa, saying that the Kingdom gears 85% of its foreign direct investments to the continent. In a statement issued following the visit of the AfDB President Akinwumi Adesina to Morocco last week, the Bank described the Kingdom as “one of AfDB’s best performing […]
The United States expressed support to Morocco’s decision to reintegrate the African Union (AU) saying this “reintegration will benefit the whole of Africa.” “We welcome Morocco’s request to reintegrate the African Union,” said Assistant Secretary of State, Tony Blinken, who was last week in Morocco, part of a Maghreb tour that also included Tunisia and […]
Morocco’s main tourist cities of Marrakech and Agadir saw French tourists’ reservation drop significantly in the aftermath of the Nice terrorist attack which left 84 dead on July 14. According to figures released by the French Travel Agencies’ Union, reservations by French tourists fell by 38% in Marrakech and Agadir since the attack took place, […]
Despite unfavorable regional and international conditions, Morocco’s economy is making strides in terms of reducing fiscal and external vulnerabilities, said Mitsuhiro Furusawa, IMF Deputy Managing Director and Acting Chair of the Board. “Despite the difficult global and regional environments, Morocco has made significant strides in reducing fiscal and external vulnerabilities and addressing medium-term challenges,” Furusawa […]
The Executive Board of the International Monetary Fund (IMF) approved on July 22 a two-year arrangement for Morocco under the Precautionary and Liquidity Line (PLL) for 3.47 billion dollars. The new PLL arrangement will provide Morocco with useful insurance against external shocks as the authorities pursue their reform agenda aimed at further strengthening the economy’s […]
It seems that economic cooperation between Morocco and India is gaining momentum since the historic visit paid last year by King Mohammed VI to that giant country. To boost further trade exchanges between the two countries, an Indian business delegation is expected in the North African country next week to explore the possibilities of partnership […]
More countries have joined the group of 28 member states of the African union, which addressed last Monday a motion to the AU chair expressing support to Morocco’s return to its African family and demanding the suspension of the self-proclaimed Sahrawi Republic from the pan-African organization. In this vein, Egypt’s Ambassador in Rabat, Ihab Jamaleddine […]