Morocco Showcases its Economic Strengths in Canberra

Morocco’s ambassador to Australia, Karim Medrek, on Thursday in Canberra, presented Morocco’s economic assets, which make the Kingdom a privileged investment destination and a gateway of choice to Europe and Africa. The Kingdom, which has a strategic geographical location and political stability, has strengthened in recent years its position as a gateway to Europe and Africa, said Mr. Medrek at a conference held at the Australian National University (ANU) in the presence of several ambassadors accredited in Canberra, university professors and students of the prestigious Australian university. Highlighting the growing interest of foreign investors in Morocco’s promising sectors, including renewable energy, agriculture, infrastructure and transport, the ambassador noted that the Kingdom is now establishing itself as a global platform for investment and trade thanks to the free trade agreements signed with 56 countries, including the EU, Turkey and the United States.

Morocco has launched major development projects (Green Morocco Plan, Halieutis Plan, Tourism Vision 2020, Emergence Plan, Logistics Plan, etc.) to boost its economy, Mr. Medrek stressed, recalling that the Kingdom has initiated a a wide range of reforms to encourage investment, including the adoption of the Investment Charter, the creation of several free zones, the establishment of commercial courts, the creation of regional investment centers, the gradual modernization of the banking and financial sector and the reduction of corporate tax burdens. With regard to economic relations and trade between Rabat and Canberra, Mr Medrek said that they remained below the level of the excellent political relations between the two countries, stressing the need to consider initiatives to develop economic relations and diversify investment. Furthermore, the Ambassador stressed that the Kingdom has adopted, thanks to the far-sighted vision of H.M. King Mohammed VI, an inclusive and democratic approach, encompassing the different aspects of human development for the construction of a true model of society. Thus, Morocco attaches great importance to the implementation of programs aimed at the inclusion of young people in urban and rural areas by contributing to the Kingdom’s economic activities, he said.