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Friday 30 November 2018

Morocco, Privileged Partner to Channel Investments to Africa

Vocal synthesis
Morocco, Privileged Partner to Channel Investments to Africa

Morocco is a privileged partner to channel investment to African countries in order to achieve their sustainable development goals, said, Wednesday in Casablanca, Belgian deputy Prime minister and minister of Foreign and European Affairs, Didier Reynders.

"African countries need $3.3 to $4.5 billion in investment annually to achieve their sustainable development goals, while the current level of public and private investment is estimated at $1.4 billion," he told a conference themed "Together to Africa".

By expanding their activities to other countries on the continent, African companies are contributing to local regional integration, which is encouraged by the signing of the agreement on a continental free trade area during the African Union (AU) summit last March in Kigali, he said.

Reynders said that providing support to regional economic actors such as Morocco is a very important step to enable this area to increase foreign direct investment in Africa.

For his part, minister delegate for African Cooperation, Mohcine Jazouli, said that Morocco's location as a gateway to Africa, combined with Belgium's central position in Europe, opens up new horizons for playing together and with other partners, a key role in Africa's emergence.

This role, he noted, can be part of a win-win partnership between the two countries but also in the context of triangular cooperation with other African nations.

Initiated by Belgium’s embassy in Morocco and the Moroccan Association of Exporters (ASMEX), this conference was held on the occasion of the visit paid to Morocco by Princess Astrid, representative of HM the King of Belgium, who is leading a large delegation of several federal as well as regional ministers and some 400 economic operators representing over 250 companies.

MAP 28 November 2018