During the monthly session devoted to questions on general government policy, the Head of Government, Aziz Akhannouch, highlighted the significant progress made by Morocco in the foreign trade sector. Faced with complex global challenges, he presented a positive economic record, highlighting the Kingdom’s successes in exports and investment attractiveness.
During the plenary session devoted to monthly oral questions addressed to the Head of Government on the subject of general policy, devoted to “the centrality of the foreign trade sector in the development of the national economy”, Aziz Akhannouch presented an optimistic vision of the foreign trade sector, which it considers as a strategic pillar of national economic development. In his interaction with the deputies after his grand oral, he recalled the notable achievements of the Kingdom despite complex global economic conditions and a difficult international environment.
A positive economic outcome, despite global challenges
The Moroccan government welcomes the significant results recorded in the field of foreign trade. According to data presented by the Head of Government, export performance has reached new heights, marked by a substantial increase in turnover in several sectors. This dynamic is also illustrated by a notable improvement in the coverage rates of the goods and services deficit, with figures that are close to records. These results reinforce the observation that Morocco has been able to transform challenges into opportunities, demonstrating admirable economic resilience.
The business climate is also characterized by positive developments. Indeed, 72% of Moroccan companies consider that the business climate is “normal and conducive” to development. These indicators are also reflected in strong growth in foreign direct investment, which jumped by more than 50% compared to the previous year. This trend demonstrates the dynamics of the Moroccan economy and its growing attractiveness for international investors.
Likewise, underlines Mr. Akhannouch, The recent “Business Ready” report from the World Bank, which assesses the conditions of the business environment in 50 emerging economies, places Morocco above the average in six of the ten areas evaluated , including foreign trade, tax transparency and financial services.
Ambitious strategies for strengthened foreign trade
The Moroccan government does not intend to stop there. During his presentation, the Head of Government underlined the importance of the reforms put in place, in particular the creation of a ministerial sector specifically dedicated to foreign trade, in order to implement more targeted and ambitious policies to support the sector. These efforts should help propel Moroccan exports to a higher level, with an estimate of 100 billion additional dirhams in added value, provided that Moroccan companies engage in new markets.
A priority of the government will be to support Moroccan SMEs in their international expansion. To achieve this, emphasis will be placed on complying with international standards, obtaining certifications and improving their competitiveness in global markets. This desire is also materialized through Morocco’s active participation in 12 free trade agreements, facilitating access to international markets for national products.
Challenges to overcome for sustainable free trade agreements
The Head of Government also stressed that there are still challenges to be met regarding certain free trade agreements. Although the majority of agreements have positive effects on the economy, he expressed a desire to carry out more in-depth evaluations of some of them to correct possible shortcomings and optimize their benefits for Morocco.
Thus, in 2024, Morocco’s ambition is clear: to strengthen its foreign trade and diversify its commercial partners while supporting the export of its products. The Moroccan government’s efforts, supported by a coherent national strategy and structural reforms, should enable the country to play an even more central role in the global economy.
