In recent times, Morocco has experienced vast improvements in their economic growth; according to the government’s 2016 national budget draft,
there is a three percent rise in the kingdom’s Gross Domestic Product
(GDP). Also, total public investment would reach 189 billion Moroccan
Dirhams (about $19.7 billion) in 2016. With Morocco’s official
unemployment rate at 8.7 percent this year, the government intends to
create 26,000 jobs in 2016 and expects more jobs to come from state
investments.
there is a three percent rise in the kingdom’s Gross Domestic Product
(GDP). Also, total public investment would reach 189 billion Moroccan
Dirhams (about $19.7 billion) in 2016. With Morocco’s official
unemployment rate at 8.7 percent this year, the government intends to
create 26,000 jobs in 2016 and expects more jobs to come from state
investments.
The European Union and Morocco have since 2012, signed a duty free
access agreement which is an agricultural agreement that gives the EU,
duty access to 55 percent of Moroccan agricultural products, and will
also give duty free access to 70 percent of the EU’s agricultural
products in Morocco.
access agreement which is an agricultural agreement that gives the EU,
duty access to 55 percent of Moroccan agricultural products, and will
also give duty free access to 70 percent of the EU’s agricultural
products in Morocco.
Analysts believe that Morocco has the ability to improve and sustain
its economic growth especially with the improvement in its agricultural
sector, which account for over 15 percent of the country’s economy. According to recent media reports,
2015 cereal harvest hit a record of 11 million tonnes, a vast
improvement from 6.7 million tonnes in 2014. As a result of the trade
agreement, Morocco has experienced a rise in imports. Trade deficit rose
from €1.8bn in 2003 to €7.26bn in 2013, Oxford Business Group (OBG) analysts say.
its economic growth especially with the improvement in its agricultural
sector, which account for over 15 percent of the country’s economy. According to recent media reports,
2015 cereal harvest hit a record of 11 million tonnes, a vast
improvement from 6.7 million tonnes in 2014. As a result of the trade
agreement, Morocco has experienced a rise in imports. Trade deficit rose
from €1.8bn in 2003 to €7.26bn in 2013, Oxford Business Group (OBG) analysts say.
On the 14th of December 2011, the European Commission became mandated
to begin negotiations to establish deep and comprehensive free trade
areas with Morocco, Egypt, Jordan and Tunisia, with the aim of
“improving market access opportunities, and the investment climate and
supporting economic reforms undertaken in these four countries”. In
reaction to this, the Arab NGO Network for Development
(ANND) sent a letter to the European institutions, noting the need for
the EU to thoroughly assess the conditions attached to the DCFTA. They
also expressed fears that the conditions may be lopsided towards the
sole aim of providing unconditional maximum protection to the European
investors and investments abroad, thereby threatening the democratic
sovereignty of the countries.
to begin negotiations to establish deep and comprehensive free trade
areas with Morocco, Egypt, Jordan and Tunisia, with the aim of
“improving market access opportunities, and the investment climate and
supporting economic reforms undertaken in these four countries”. In
reaction to this, the Arab NGO Network for Development
(ANND) sent a letter to the European institutions, noting the need for
the EU to thoroughly assess the conditions attached to the DCFTA. They
also expressed fears that the conditions may be lopsided towards the
sole aim of providing unconditional maximum protection to the European
investors and investments abroad, thereby threatening the democratic
sovereignty of the countries.
However, in March 2013, Deep and Comprehensive Free Trade Agreement
(DCFTA) negotiations were launched between both the EU and Morocco,
where the EU proposed further strengthening of trade agreements with
Morocco. This would mean an extension beyond the trade in goods into
services. For instance, the harmonization of regulations in intellectual
property, investment and procurement as well as a gradual integration
of both markets.
(DCFTA) negotiations were launched between both the EU and Morocco,
where the EU proposed further strengthening of trade agreements with
Morocco. This would mean an extension beyond the trade in goods into
services. For instance, the harmonization of regulations in intellectual
property, investment and procurement as well as a gradual integration
of both markets.
In a 2015 Morocco analysis report by OBG, country economist for Morocco at the World Bank,
Jean-Pierre Chauffour, supports the DCFTA, “The DCFTA can provide a
transformational platform to improve the regulatory environment,” he
said. The report provides figures showing a slow economic growth rate
of 12 percent from the country’s Ministry of Economy and Finance. Trade
rose from Dh4.7bn (€511.3m) to Dh14.4bn (€1.57bn) between 2003 and 2013.
Jean-Pierre Chauffour, supports the DCFTA, “The DCFTA can provide a
transformational platform to improve the regulatory environment,” he
said. The report provides figures showing a slow economic growth rate
of 12 percent from the country’s Ministry of Economy and Finance. Trade
rose from Dh4.7bn (€511.3m) to Dh14.4bn (€1.57bn) between 2003 and 2013.
This recently updated EU report
shows that DCFTA negotiations between Morocco and the EU are actively
engaged, the question is, will there be a solid agreement and will this
agreement take morocco to the plane they want to be economically? OBG notes that the economic and commercial
counsellor at the Spanish Embassy to Morocco, Ines Pérez-Durántez
Bayona, says the DCFTA will benefit both the EU and Morocco, “It would
also boost competition in government tenders as the government has not
yet signed the World Trade Organization (WTO) agreement on tenders and
many contain national content requirements,” she said
shows that DCFTA negotiations between Morocco and the EU are actively
engaged, the question is, will there be a solid agreement and will this
agreement take morocco to the plane they want to be economically? OBG notes that the economic and commercial
counsellor at the Spanish Embassy to Morocco, Ines Pérez-Durántez
Bayona, says the DCFTA will benefit both the EU and Morocco, “It would
also boost competition in government tenders as the government has not
yet signed the World Trade Organization (WTO) agreement on tenders and
many contain national content requirements,” she said
