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Director General of WTO:Morocco’s status as the second African investor in Africa reflects the growing trend of its economy
Morocco’s role in promoting south-south cooperation reflects the openness of the Moroccan economy as well as its dynamism and attachment to cultural roots, said Director General of the World Trade Organization (WTO) Roberto Azevêdo.
In an interview with MAP prior to his visit to attending an African conference in Morocco on the occasion of the 20th anniversary of the WTO, Azevêdo said that Morocco’s status as the second African investor in Africa reflects the growing trend of its economy.
“Morocco recognizes the importance of the African market as a driver for future growth,” said Azevêdo.
The WTO is closely following the development of the Moroccan economy which showed remarkable resilience in the wake of the economic crisis and the fluctuations it engendered in European markets, the WTO chief said, noting that growth prospects in Morocco for 2015 are estimated at 4.5%.
While recognizing the work that remains ahead in terms of reducing unemployment, the WTO Director General highlighted the sound foundations of political stability in Morocco that enable the implementation of efficient economic and trade policies with promising results.
“Since it joined the international multilateral trade system, the Moroccan economy successfully managed to transform and to diversify exports,” he said.
Azevêdo recalled that Morocco remains the world largest phosphate exporter and a leading producer of citrus fruits, agri-food products and textile.
In the same vein, he noted the growing exports of high added value goods such as cars, electronic devices and airplane parts.
He also pointed out to the important infrastructure investments in Morocco, notably the Tanger-Med ports and its role in promoting large-scale investments in car making and aviation.
Azevêdo will be visiting Morocco to attend the ministerial conference on the occasion of the 20th anniversary of the WTO.
The conference is held under the high patronage of King Mohammed VI with the participation of several African trade ministers.
