- According to a new report, further trade reforms in Morocco would improve the country's economic efficiency. The World Trade Organisation (WTO) yesterday "applauded" Morocco's recent economic performance and urged it to "accelerate its trade reforms with a view to improving efficiency and fully benefiting from its participation in the multilateral trading system."
A relatively diversified economy and sound macroeconomic policy had helped Morocco to contain the negative effects of recurrent droughts and have contributed to the stabilisation of its currency, according to a report on the trade policies and practices of Morocco released yesterday by the WTO Secretariat.
The report noted that by expanding its multilateral commitments in the services sector, which account for 60 percent of real GDP, Morocco would reinforce the predictability of its trade regime, make its economy more attractive for foreign capital, and consolidate reforms in areas such as tourism and others in which the country has comparative advantages.
The report also says that liberalisation of the agricultural sector and simplification of customs tariffs would improve economic efficiency and enhance Morocco's adherence to the principles of the WTO.
- Such reforms could include the abolition of variable duties and the reduction of the number and levels of tariff rates, WTO says. "This would somewhat simplify Morocco's trade regime, further complicated by membership of several overlapping trade agreements."
According to a Moroccan government document presented to WTO, the long-term goal of the country's economic and trade liberalisation policy is "sustainable human development, while the short- and medium-term objective is to generate strong, employment-generating economic growth by upgrading the economy, promoting investment and rural development and diminishing social and regional disparities."
Measures have also been taken to bring domestic legislation into line with the WTO principles and rules, to overhaul the legal framework for business, and to enhance institutional facilities for cooperation with the private sector, the Moroccan government paper said.
In addition to the Association Agreement with its main trade partner, the European Union, Morocco has concluded free-trade agreements with EFTA and Members of the Arab League at both bilateral and regional level (Arab free-trade area) and has entered into preferential agreements with several African and Arab countries.
The WTO Secretariat - which had appreciated Morocco's high-level delegation, led by Minister Mustapha Mechahouri - said it would encourage all WTO members to "support Morocco in its efforts to take up its challenges, guaranteeing market access for its products and assisting it to improve competitiveness."
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español