Morocco: Business, Trade and Regionalisation

CREATING MARKETS IN MOROCCO

A SECOND GENERATION OF REFORMS: BOOSTING PRIVATE SECTOR GROWTH, JOB CREATION AND SKILLS UPGRADING

Country Private Sector Diagnostic

CREATING MARKETS IN MOROCCO World Bank Group – IFCDownload

Executive Editor: ​Dr. Said El Mansour Cherkaoui l’Africain

The Search of Relieve in the Gulf: Morocco Relations with the United Arabe Emirates The cooperation between Morocco and the United Arab Emirates [UAE  encompasses several areas since that the UAE has been the first country of the Gulf Cooperation Council to have established a strong and visible presence in the Moroccan economic landscape. Trade between Morocco and the UAE turn annually around 2.22 billion dirhams, according to the figures of the Moroccan Office des Changes.  The ties between the two countries were strengthened in June 2013 after the signing of a Memorandum of Understanding between the Kingdom and the Abu Dhabi Fund for Development, under which Morocco was granted a grant of 1 , $ 25 billion, to finance a series of development projects. Emirati investments in Morocco strengthen The Tangier-Casablanca high-speed line (TGV), the Tangier-Med port complex and the Mediterranean ring road are among the major projects financed by the Abu Dhabi Fund. As a result, Emirati investors are now among the leading Arab operators in the Kingdom in sectors as diverse as real estate, tourism, energy, agriculture and finance. Emirati economic support in Morocco is also reflected in the contribution of Aabar Investments PJS to the financing of the investment fund Wessal Capital, considered as the largest sovereign fund in Africa and which finances the realization of major structural and development projects in Casablanca and in Rabat. Recent years have seen a significant influx of Emirati investments in Morocco, operated by major institutions such as the Abu Dhabi Fund for Development, the Moroccan-Emirati Development Corporation, the companies Taqa, Etisalat and Al Maabar International Investments, between other. Linked by a free trade agreement that came into force in 2003, the UAE came third in the first decade of this century in terms of foreign investment in Morocco. The UAE also continues to support the national renewable energy development plan, which has benefited from financial facilities estimated at US $ 300 million. Supporting the development vision promoted by HM King Mohammed VI, the UAE is Morocco’s second largest trading partner in the Gulf region and the third largest investor in the Kingdom. Emirati investment projects include oil, telecommunications, renewable energy, in addition to phosphates. Emirati investments in Morocco rose from 1.15 billion dirhams in 2009 to more than 3 billion in 2013, with a peak in 2012 that reached almost 8 billion dirhams.  The year 2014 was marked by the € 4.1 billion deal between the UAE operator Etisalat and Vivendi for the acquisition of its shares, 53% in Maroc Telecom. In addition, they are also present in sectors such as tourism, air transport and real estate via Somed, Eemra, Wessal Capital, Air Arabia or Aabar Morocco Investment. Another company from the United Arab Emirates has recently entered the kingdom, it is holding Bin Omeir who holds the map of the Korean automaker KIA. On the other hand, the Sheikh Khalifa Ibn Zaïd Foundation was at the origin of the first private university in Morocco dedicated to the teaching of health professions. It should be noted that the said foundation has also built, via a public-private partnership, the Cheikh Khalifa hospital in Casablanca. The number of Moroccan nationals living in the Emirates amounts to more than 55 thousand, half of whom have settled in the country over the last four years as a result of increased employment opportunities in Abu Dhabi, he said.   Exit Strategy for the Minister of Economy and Finance following his submission of the the 2019 Finance Bill Boussaid outlines the priorities of the 2019 PLF MAP Posted in The New Tribune on 13 – 07 – 2018 Economy and Finance Minister Mohamed Boussaid outlined the background for drafting the 2019 Finance Bill (PLF) before the government council meeting in Rabat on Thursday. According to Mr. Boussaid, the year 2019 will be marked by constraints and challenges related in particular to the rise of protectionist trends in the global economy and the rise in oil prices, said the Minister in charge of Relations with the parliament and civil society, government spokesman El Khalfi at a press conference after the council of government.These constraints also relate to the expectations of the national economic environment in the light of the challenges relating to private investment and tax revenues, as well as the expectations of citizens who hope to improve the quality of services and increase the power of purchase, added the minister.These constraints impose on the government a clear identification of priorities, namely the recognition of the social and economic vocation of the PLF2019 and the pursuit of structural reforms, particularly with regard to advanced regionalization and the reform of the judicial system. -he thinks. These priorities should also focus on reducing social and spatial disparities, supporting the national enterprise, especially small and medium-sized enterprises, stimulating private investment and consumer protection, as well as pursuing related reforms. in retirement, education and health, while paying particular attention to the fight against youth unemployment, the extension of social security and the fight against corruption, he pursued.Mr. Boussaid also presented a number of indicators that show the watermark “exceptional efforts” provided in the context of the execution of the 2018 Finance Act, including the tax effort to support the company and solve the problem. problematic of VAT credits, as well as subsidies dedicated to the social sectors, especially those of education, health and employment. The minister also highlighted the effort made to support public investment and reduce the indebtedness of the treasury, stating that he will present, at the next government council, the quantitative indicators of the execution of the current finance law.The government will hold a conference this month on the priorities of PLF 2019, El Khalfi said. ChroNiqueS MotriceS – Industrie Automobile au Maroc INDUSTRIE DE LA SOUS-TRAITANCE AUTOMOBILE AU MAROC Si le Maroc a pu concrétiser un tel envol dans l’automobile, c’est d’abord grâce aux atouts nombreux structurels que lui procurent particulièrement​  Sa stabilité institutionnelle, politique et macro-économique  Son ouverture sur l’extérieur par les divers accords de libre-échange conclus avec les partenaires du pays  Les réformes structurantes menées pour l’amélioration du climat des affaires qui ont permis au Maroc de faire un bond de 43 places en 5 ans dans le classement Doing Business, passant de la 130ème place en 2009 à la 87ème en 2014  Les efforts massifs consentis dans les infrastructures routières aériennes portuaires et industrielles qui permettent rapidité des déplacements des hommes, des flux de marchandises et des données. L’essor de l’industrie automobile marocaine est aussi le fruit de la vision tracée pour le secteur et de l’offre de valeur particulièrement attractive développée. Cette offre repose sur  La mise en place d’une infrastructure d’accueil de qualité avec 2 plateformes industrielles intégrées dédiées ayant un statut de zone franche a savoir Tanger Automotive City et Kénitra Automotive City. ​ Une stratégie de formation innovante et pragmatique adaptée au besoin du secteur: 3 instituts de formation aux métiers de l’industrie automobile (IFMIA) ont été mis en place :    La contribution de l’Etat à l’installation et à l’acquisition d’équipements via le Fonds Hassan II pour le Développement Economique et Social en vue d’alléger le coût de l’investissement initial (30% des coûts professionnels de construction, limités à 180 EUR/m², 15% des coûts d’équipements pour l’investissement en machines, contribution du fond à 15% du montant de l’investissement, plafonné à 30 millions de dirhams). Après Renault et Peugeot, c’est au tour ​ Build Your Dreams – BYD de s’implanter au Maroc​: ​Le constructeur automobile de la Chine BYD (Build Your Dreams) s’est engagé à ouvrir une usine de montage de voitures électriques au Maroc, près de Tanger.   Le PDG du groupe, Wang Chuanfu, a signé les contrats ce 9 décembre 2017 au  palais royal de Casablanca en présence du roi Mohammed VI.  Il est prévu, en plus de cette usine, trois autres unités de production, de batteries électriques, de bus et de camions électriques ainsi que de trains électriques, le tout dans la cité industrielle Mohammed VI Tanger Tech, bâtie par un autre groupe chinois, Haile.   2500 emplois sont attendus de ces projets industriels. Editeur: ​Dr. Said El Mansour Cherkaoui l’Africain Pour en savoir plus, lire: Le Secteur Automobile au Maroc COUNTRY AT A GLANCE Population 33.92 million 2014 GDP $110.0 billion 2014 GDP growth 2.4% 2014 Inflation 0.4% 2014 More Data »  Amid the historic events that swept the Middle East and North Africa early in 2011, Morocco initiated important political and social changes of its own, with King Mohammed VI spearheading the drafting of a new Constitution, as well as laying out a broad range of reforms to respond to popular demands for more democratic governance and better economic opportunities. Read Overview Boussaid expose les priorités du PLF 2019 MAP Publié dans La Nouvelle Tribune le 13 – 07 – 2018 Le ministre de l’Economie et des Finances, Mohamed Boussaid, a exposé le contexte de l’élaboration du projet de loi de finances 2019 (PLF) devant le conseil de gouvernement réuni jeudi à Rabat. Selon M. Boussaid, l’année 2019 sera marquée par des contraintes et défis liés notamment à la montée des tendances protectionnistes au niveau de l’économie mondiale et à la hausse des cours du pétrole, a indiqué le ministre délégué chargé des Relations avec le parlement et la société civile, porte-parole du gouvernement, M. El Khalfi lors d’une conférence de presse à l’issue du conseil de gouvernement.Ces contraintes se rapportent aussi aux attentes du milieu économique national à la lumière des défis relatifs à l’investissement privé et aux recettes fiscales, ainsi qu’aux attentes des citoyens qui espèrent une amélioration de la qualité des services et une augmentation du pouvoir d’achat, a ajouté le ministre. Ces contraintes imposent au gouvernement une identification claire des priorités, à savoir la consécration de la vocation sociale et économique du PLF2019 et la poursuite des réformes structurelles, particulièrement ce qui a trait à la régionalisation avancée et à la réforme du système judiciaire, a-t-il estimé. Ces priorités doivent aussi porter sur la réduction des disparités sociales et spatiales, l’accompagnement de l’entreprise nationale, particulièrement les petites et moyennes entreprises, la stimulation de l’investissement privé et la protection du consommateur, ainsi que la poursuite des réformes relatives à la retraite, l’enseignement et à la santé, tout en accordant un intérêt particulier à la lutte contre le chômage des jeunes, à l’élargissement du régime de la couverture sociale et à la lutte contre la corruption, a-t-il poursuivi. M. Boussaid a également présenté un nombre d’indicateurs qui montrent en filigrane les « efforts exceptionnels » fournis dans le cadre de l’exécution de la loi de finances 2018, notamment l’effort fiscal destiné à appuyer l’entreprise et à résoudre la problématique des crédits de TVA, ainsi que les subventions dédiées aux secteurs sociaux, en particulier ceux de l’enseignement, la santé et de l’emploi. Le ministre a aussi mis en exergue l’effort déployé en matière d’appui à l’investissement public et de réduction de l’endettement du trésor, précisant qu’il va présenter, lors du prochain conseil du gouvernement, les indicateurs chiffrés de l’exécution de la loi de finances actuelle. Le gouvernement tiendra, au cours de ce mois, une conférence sur les priorités du PLF 2019, a fait savoir M. El Khalfi. Advertisment American Institute of Entrepreneurship in Africa ADIL DIANI International Trade and Government Affairs Expertise Kingdom of Morocco recorded a historic jump in 2017 #FDI flows, almost +23%, contreversely, foreign direct investment #FDI flows to #Africa slumped to $42 billion in 2017, a 21% decline from 2016. #UNCTADWIR 2018. https://bit.ly/2JijJ9s

Morocco’s Growing Foreign Trade Deficit: Diagnosis and Policies Phosphates and textiles are central to Morocco’s export industry.Other exports items include electric components, inorganic chemicals, transistors, citrus fruits, vegetables, fish. Morocco main exports partners are European Union countries with Spain, France and Italy being the most important. Morocco imports crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics.Its main imports partners are: France, Spain, China, Italy, Germany, United States and Saudi Arabia. This page provides the latest reported value for – Morocco Balance of Trade – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.Morocco’s trade deficit increased by 10.6 percent, a rise of MAD 48.70 billion in March 2018, compared to MAD 44.02 billion registered during the same period of the previous year. The Foreign Exchange Office numbers showed that Morocco’s imports reached MAD 117.14 billion at the end of March 2018, against MAD 108.21 billion in March 2017, marking an increase of 8.2 percent, which they largely attributed to the increase in purchases of capital goods (+ 12.4%), finished consumer products (+ 7.8%) and food products (+ 14.3%), especially wheat (+ 29.2%). Meanwhile, exports rose by 6.6 percent, MAD 68.45 billion instead of MAD 64.19 billion one year earlier, which was mainly due to the increase in sales in all other sectors, especially in the automotive sector (+ 16.5%), agriculture and agri-food (+ 3%), and aeronautics (+ 18.8%), as well as Textile and Leather (+ 2.4%), the same source adds. Thus, the coverage rate of imports by the exports, stood at 58.4 percent in March 2018, against 59.3 percent one year earlier. Source: Monthly external trade indicators for March 2018, issued by the Moroccan Foreign Exchange Office of External Trading FOREIGN TRADE DEFICIT: A WORRYING AND UNSUSTAINABLE TREND foreign trade deficit has been worsening in recent years, with imports at twice the level of exports. The country’s trade deficit now accounts for 23 percent of GDP, a level unprecedented in Morocco’s recent history. An Alarming Trend: Benayad, Ouljour, and Abdelkhalek agreed that the emerging trend in Morocco’s foreign trade is alarming. The gap between Morocco’s merchandise imports and exports is widening. Exports of services and transfers of money from Moroccans living abroad, which for years helped to reduce the trade deficit, are no longer sufficient, they said. Deteriorating Foreign Exchange Reserves: The current account had a deficit of eight percent of GDP in 2011 and is likely to further deteriorate by end of 2012. “Foreign exchange reserves are being depleted and their level can cover no more than four months of imports, compared to ten months five years ago,” Achy said. The current trend is no longer sustainable and exposes the country to real risks. International Implications: In August, the IMF opened a “precautionary” $6.2-billion line of credit to protect Morocco’s economy from further external shocks, Ouljour explained. More recently, Standard & Poor’s downgraded Morocco’s outlook to negative from stable, citing its economic vulnerability and increasing budget and current account deficits. External Shocks: Part of the growing trade deficit is due to factors that are beyond the government’s control, such as the price spikes of oil and food on the international markets and the bleak economic outlook in Europe, the key partner of Morocco, added Abdelkhalek. STRUCTURAL DEFICIT AND POLICY FAILURES Domestic Disadvantages: Most of the deficit is structural, resulting from the inability of Moroccan products to compete both domestically and on foreign markets, Abdelkhalek explained. The country has been lagging behind in its industrialization process, with modest product and export diversification, Benayad argued. He added, “Morocco opened its economy through its commitments under the WTO and in the free trade agreements with Europe, the United States, and Turkey. Yet, the country was ill-equipped, with poor productivity and unskilled labor.” Global Competition: With the rise of China in international trade, many countries have been driven out of labor-intensive sectors because of their uncompetitive wages, said Achy. Yet some countries have managed to maintain export growth by producing more sophisticated products that use higher technology and skilled labor. Morocco has not done this, due its poor human capital and modest investment in research and development. Exchange Rates: A steady appreciation of the real effective exchange anchored to the Euro has exacerbated Morocco’s competitive position, Achy explained. Meanwhile, many of the countries that compete with Morocco have seen real depreciations of their respective currencies. The Role of the Moroccan Government: The government recently designed policies to support manufacturing and promote exports, said Benayad. Most policies, however, are sectoral and uncoordinated. The government needs a comprehensive vision and consistent package of policies to manage short term constraints and lay the foundation for a more ambitious development agenda.

Morocco is the 60th largest export economy in the world and the 104th most complex economy according to the Economic Complexity Index (ECI). In 2016, Morocco exported $27.5B and imported $41.5B, resulting in a negative trade balance of $14B. In 2016 the GDP of Morocco was $103B and its GDP per capita was $7.86k. The top exports of Morocco are Cars ($3.3B), Insulated Wire ($2.73B), Mixed Mineral or Chemical Fertilizers($2.08B), Phosphoric Acid ($1.21B) and Non-Knit Women’s Suits ($1.21B), using the 1992 revision of the HS (Harmonized System) classification. Morocco top imports are Refined Petroleum ($3.13B), Cars($1.97B), Wheat ($1.15B), Petroleum Gas ($1.08B) and Insulated Wire ($891M). The top export destinations of Morocco are Spain($6.16B), France ($4.72B), Turkey ($1.11B), Germany($1.03B) and the United States ($1.02B). The top import origins are Spain ($6.76B), France ($5.18B), China ($3.77B), the United States ($2.55B) and Germany ($2.4B). Exports In 2016 Morocco exported $27.5B, making it the 60th largest exporter in the world. During the last five years the exports of Morocco have increased at an annualized rate of 2.1%, from $24.8B in 2011 to $27.5B in 2016. The most recent exports are led by Cars which represent 12% of the total exports of Morocco, followed by Insulated Wire, which account for 9.9%. Explore on Visualizations page Data Sources  Imports In 2016 Morocco imported $41.5B, making it the 52nd largest importer in the world. During the last five years the imports of Morocco have decreased at an annualized rate of -1.3%, from $43.8B in 2011 to $41.5B in 2016. The most recent imports are led by Refined Petroleum which represent 7.55% of the total imports of Morocco, followed by Cars, which account for 4.76%. Explore on Visualizations page Data Sources  Trade Balance As of 2016 Morocco had a negative trade balance of $14B in net imports. As compared to their trade balance in 1995 when they still had a negative trade balance of $2.03B in net imports.Explore on Visualizations page Data Sources  Destinations The top export destinations of Morocco are Spain ($6.16B), France ($4.72B), Turkey ($1.11B), Germany ($1.03B) and the United States ($1.02B).Explore on Visualizations page Data Sources  Origins The top import origins of Morocco are Spain ($6.76B), France ($5.18B), China($3.77B), the United States ($2.55B) and Germany ($2.4B).Explore on Visualizations page Data Sources  MOROCCAN FOREIGN TRADE IN FIGURES Morocco has an open economy. Trade represents 80% of the GDP (World Bank, 2017). Morocco’s main trade partners are France and Spain, followed by the United States and Italy. The country mainly imports crude oil, telecommunications equipment, wheat, gas and electricity. It mainly exports textiles, electrical components, fertilisers, citrus fruits and vegetables.Morocco has a structurally negative trade balance, which continues to deplete its foreign exchange reserves. The deficit has been gradually declining as exports grow at a faster rate than imports. Exports rose by 9.4% to MAD 245.1 billion while imports grew 6.4% to MAD 435.3 billion. On the other hand, Morocco’s energy bill, which comprises a considerable share of its imports grew faster than any type of exports owing to an increase in gas prices (27.4% y-o-y increase to MAD 69.5 billion, 16% of imports).The authorities are trying to address the trade deficit through a series of sectoral plans: ‘Emergence’ for industry, ‘Green Morocco’ for agriculture and Morocco Export Plus, which aims to triple the volume of exported goods and services over the next ten years. Free trade agreements have been signed with the United States, Turkey, Tunisia, Egypt and Jordan. Morocco has also been strengthening its commercial integration with the European Union. ECONOMIC COMPLEXITY OF MOROCCO Product Space The product space is a network connecting products that are likely to be co-exported and can be used to predict the evolution of a country’s export structure.The economy of Morocco has an Economic Complexity Index (ECI) of -0.556 making it the 104th most complex country. Morocco exports 166 products with revealed comparative advantage (meaning that its share of global exports is larger than what would be expected from the size of its export economy and from the size of a product’s global market). Explore on Visualizations page Data Sources  Complexity and Income Inequality In this version of the product space products are colored according to their Product Gini Index, or PGI. The PGI of a product is the level of income inequality that we expect for the countries that export a product. For more information see: Linking Economic Complexity, Institutions and Income Inequality and The structural constraints of income inequality in Latin America.Explore on Visualizations page Data Sources  Economic Complexity Ranking In this version of the product space products are colored according to their Product Gini Index, or PGI. The PGI of a product is the level of income inequality that we expect for the countries that export a product. For more information see: Linking Economic Complexity, Institutions and Income Inequality and The structural constraints of income inequality in Latin America.Explore on Visualizations page Data Sources  MORE ON MOROCCO FROM OUR OTHER SITES Morocco is the 60th largest export economy in the world and the 104th most complex economy according to the Economic Complexity Index (ECI). In 2016, Morocco exported $27.5B and imported $41.5B, resulting in a negative trade balance of $14B. In 2016 the GDP of Morocco was $103B and its GDP per capita was $7.86k.The top exports of Morocco are Cars ($3.3B), Insulated Wire ($2.73B), Mixed Mineral or Chemical Fertilizers ($2.08B), Phosphoric Acid ($1.21B) and Non-Knit Women’s Suits ($1.21B), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($3.13B), Cars ($1.97B), Wheat ($1.15B), Petroleum Gas ($1.08B) and Insulated Wire ($891M).The top export destinations of Morocco are Spain ($6.16B), France ($4.72B), Turkey ($1.11B), Germany ($1.03B) and the United States ($1.02B). The top import origins are Spain ($6.76B), France ($5.18B), China ($3.77B), the United States ($2.55B) and Germany ($2.4B). Morocco: Deepening of Foreign Trade Deficit 6/5/2014 Morocco in Dire Need to Design and Implement New Models of Global Negotiation and Different International Trade Strategy to Open Foreign MarketsIt is becoming crucial for Morocco to establish new entry strategies to open foreign marketplaces and stimulate international demands for its products.Morocco needs to revise its export strategy and set up new model of negotiation to open truly foreign marketplaces to increase the visibility, knowledge and demand for Moroccan Made Products.Morocco’s foreign trade deficit is deepening with continual increase of imports and structural deficit that was multiplied fourfold and still growing during the last decade which is affecting the country’s financial situation and international standing.Article in English and French Languages on the situation of the Trade Balance of Morocco: http://carnegie-mec.org/2012/10/10/morocco-s-growing-foreign-trade-deficit-diagnosis-and-policies/eytj Article en Français sur la détérioration de la balance commerciale du Maroc. http://www.aujourdhui.ma/maroc/finances/balance-commerciale-le-gouffre-se-creuse–109979#.U5A1NfldVig The deterioration of “cash flow” and liquidity for Morocco has imposed even the end of the Moroccan State’s subsidies of the essentials goods such as bread for all Moroccans without distinction in their respective level of income given the “Moroccan Welfare” system is socially blind..Fortunately, the so-called “Arab Spring” was not translated in Amazigh and therefore could not really affect countries such as Morocco that are rooted in such civilization. Otherwise, any government who touches the Bread breaks the alliance and unity with people. An adage in Morocco says: “We are united by the Bread we divide between us together and share.”Morocco needs to learn again how to negotiate its ways through the traps of the international trade and the related self-oriented Free Trade Agreements that are tailored to reinforce the position of dominant traders in the world market.Here below are some of the first layers of understanding the principles of global negotiations that Morocco needs to integrate and adapt to its own needs and objectives to expand the outreach of the foreign trade: Pour traduire ce passage en Français ou toute autre langue, veuillez copier tout ce texte dans le transférer à ce site: https://translate.google.com/http://www.businessinsider.com/communication-charts-around-the-world-2014-3 Morocco’s Growing Foreign Trade Deficit: Diagnosis and Policies carnegie-mec.org http://california.think.global/ceg2017/ceg17/index.html#https://www.facebook.com/permalink.php?story_fbid=1968857330007969&id=1931293430431026 « Nous nous engageons à promouvoir à l’échelon national et mondial des systèmes économiques reposant sur les principes de la justice, de l’équité, de la démocratie, de la participation, de la transparence, de la responsabilité et de l’ouverture. » Rapport de la Conférence internationale sur le développement, Monterrey, (Nations Unies 2002, p. 9) M O R O C C O ’ S  G R O W T H  D I A G N O S T I COne of the paradoxes of the Moroccan economic model is the fact that, although the country has one of the highest investment rates in the world (31.7% of GDP in 2012), the growth rate remains below expectations and is driven by private and public consumption. In the last ten years, Morocco has become one of the main destinations of foreign direct investment in the MENA region. Nevertheless, foreign direct investment inflow remains structurally limited compared to those received by comparator countries. This paradox can be explained by the fact that the increase in total factor labor productivity increased at a relatively lower pace and that the investments have been undertaken in sectors known for low value added.Ensuing from this first paradox, the second paradox is the economy’s lack of structural transformation and low industrialization. Regarding production, the breakdown of value added by sector shifted slightly towards services but has not evolved significantly since the nineteen eighties; agriculture still occupies an important position in wealth creation. Investments are undiversified and are increasingly concentrated in mechanical and electrical industries, as well as in the building and construction sector, which are high importers of intermediate consumption. Value chains are consequently undeveloped and the innovation process has slowed down. The third paradox is the fact that the private sector is not sufficiently dynamic and lacks small and medium-sized enterprises (“missing middle”), which is the private sector component that tends to show the greatest innovation in other countries. The rest of the economy is made of suboptimal firms with unproductive activities (often in the informal sector) and characterized by low profits.Despite the progress made, significant development challenges remain and only stronger private sector-driven growth will be able to address them. Absolute poverty has dropped sharply, but economic vulnerability is still a concern. Youth unemployment is relatively high and social protection coverage is limited. Access to education has increased remarkably, but the illiteracy rate (39% of the total population aged 10 years and above, 50% of rural people and 65% of rural women) and gender disparities in secondary education are still highly significant. The results in terms of education and learning quality are far behind those of countries with similar income and the mismatch between labor market supply and demand is increasingly significant. BOURSE & FINANCES Vendredi 09 Fevrier 2018 Fitch évalue l’impact de la norme IFRS 9 sur les banques marocaines Vendredi 09 Fevrier 2018 La Douane précise les conditions d’exonération des pénalités pécuniaires ECONOMIE Vendredi 09 Fevrier 2018 6ème Forum Centraliens Supélec : Des pistes pour industrialiser l’Afrique Vendredi 09 Fevrier 2018 Tourisme : le Maroc vise 500.000 touristes chinois à l’horizon 2020 DÉVELOPPEMENT DURABLE Lundi 05 Fevrier 2018 Maroc/Finlande : vers une intensification de la collaboration Jeudi 01 Fevrier 2018 Le Maroc pourrait passer d’importateur à exportateur d’électricité dès 2019 BOURSE NEWS Samedi 10 Fevrier 2018 Marché des changes : BAM a servi 96 millions de dollars servi cette semaine Vendredi 09 Fevrier 2018Intermédiation en bons du Trésor : Les banques d’affaires qui ont dominé le marché en 2017 English: The regionalisation in Morocco needs to have the same regional institutions and organizations that focus on the promotion of the potentialities of the regions and the development of their international trade without having to be subject to the Central Government for reaching or seeking marketplaces in foreign countries. I have worked with the CITD in Oakland and Berkeley. I was among the first members who joined this organization in 1992-1993 and worked with the CITD that was located within the Vista Community College. I participated in the first Statewide meeting of the CITD and contributed in drawing the organizational and working strategies of the California CITD. At this date, only 5 CITD existed and Dr. Barbara Beno was the President of Vista Community College. In fact, I have during all the years since 1994 to 1998 and from 2001 to 2007, I have drafted all the strategies and the planning of the activities of the CITD and the East Bay Center for International Trade Development respectively located in Berkeley, Oakland and later on in Berkeley again. Furthermore, I have organized outbound and inbound trade delegations from many countries including from China (several delegations), Egypt, Morocco, East and Western African countries, Vietnam, Japan along visits by foreign officials and entrepreneurs from various countries. Français:La régionalisation au Maroc doit avoir les mêmes institutions et organisations régionales qui se concentrent sur la promotion des potentialités des régions et le développement de leur commerce international sans avoir à être soumis au gouvernement central pour atteindre ou chercher des marchés à l’étranger. J’ai travaillé avec le CITD (Center for International Trade Development) à Oakland et à Berkeley. J’ai été parmi les premiers membres qui ont rejoint cette organisation en 1992-1993 et avoir travaillé avec le CITD lorsque il était situé au sein du Collège Académique “Vista Community College”.J’ai participé à la première réunion des CITD opérant dans tout l’Etat de Californie comme j’ai aussi contribué directement à l’élaboration des stratégies organisationnelles et de travail du CITD de toute la Californie. À cette date, il n’existait que 5 CITD et la Dr Barbara Beno était la présidente du Vista Community College.En fait, pendant toutes les années, de 1994 à 1998 et de 2001 à 2007, j’ai rédigé toutes les stratégies et la planification des activités du CITD, du Centre pour le développement du commerce international de East Bay CITD qui furent respectivement situés à Berkeley, Oakland et Plus tard à Berkeley à nouveau.De plus, j’ai organisé des délégations commerciales en partance de la Californie et des Etats Unis comme celles arrivant en Californie et cela incluait de nombreux pays, tel que la Chine (plusieurs délégations), l’Égypte, le Maroc, les pays de l’Afrique de l’Est et de l’Ouest, le Vietnam et le Japon, ainsi que des visites de fonctionnaires étrangers et d’entrepreneurs de divers pays. العربية إضفاء الطابع الإقليمي في المغرب يحتاج الى المؤسسات والمنظمات الإقليمية ذاتها التي تركز على تعزيز إمكانات المناطق وتنمية تجارتها الدولية دون أن تكون خاضعة للحكومة المركزية للوصول أو السعي الأسواق في البلدان الأجنبية.لقد عملت مع CITD في أوكلاند وبيركلي. أنا كنت من بين الأعضاء الأوائل الذين انضموا إلى هذه المنظمة في الفترة 1992-1993، وعملت مع CITD التي كانت تقع داخل كلية المجتمع فيستا.شاركت في اجتماع على مستوى الولاية الأولى للCITD وساهمت في رسم الاستراتيجيات التنظيمية والعمل في كاليفورنيا CITD. في هذا الوقت، فقط 5 CITD كانت موجودة وكانت الدكتورة باربرا بينو رئيس فيستا كلية المجتمع.في الحقيقة، لدي طيلة سنوات منذ 1994-1998 و2001-2007، ولقد وضعت جميع الاستراتيجيات والتخطيط للأنشطة CITD ومركز الشرق خليج لتنمية التجارة الدولية تقع على التوالي في بيركلي، اوكلاند و في وقت لاحق في بيركلي مرة أخرى.وعلاوة على ذلك، لقد نظمت الوفود التجارية الصادرة والواردة من العديد من البلدان بما في ذلك من الصين (عدة وفود)، مصر، المغرب، دول شرق وغرب أفريقيا وفيتنام واليابان إلى جانب زيارات المسؤولين الأجانب ورجال الأعمال من مختلف البلدان.

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CCherkaoui Journal and American Institute for Entrepreneurship in Africa by Dr. Said El Mansour Cherkaoui is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.