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According to a WTO Secretariat report on Morocco's trade policies and practices, the reforms enabled the north African country to achieve an annual real GDP growth rate of 4.5% on average during the period 2002-2007, and 5.8% in 2008.
"Morocco has taken steps to liberalize its economic sectors, in particular key services." "It has reduced the level of its average tariff protection by 13.2 percentage points to 20.2%," the report noted.
It added that "a taxation reform, including the simplification of the tariff structure through the elimination of variable duties, and a reduction of the number and levels of rates, particularly in the agricultural sector, would help Morocco to fully honour its multilateral commitments and would further simplify its trade regime."
Quoting the International Monetary Fund (IMF), the report underlined that “the outlook for Morocco's economy remains positive,” noting that the north African country “has been spared to some extent the global financial upheavals because its external debt is relatively low and long?term, and because its macroeconomic policies have been strengthened.”
For the WTO, Morocco’s economic growth “will probably remain relatively strong in the medium term and the balance in the external current account stable, even though a small deficit may emerge in the medium term.”
Earlier in the day, Moroccan Foreign Trade Minister, Abdellatif Maazouz, highlighted during the opening session of the 4th meeting to review Morocco’s trade policy by the WTO the good performances of the kingdom’s economy since 2003.
The emergence of new businesses reduces the volatility of our growth and GDP per capita has almost doubled between 2002 and 2007, he said.
Maazouz noted that foreign direct investments (FDI) have increased, jumping from 6 billion dirhams (747 million dollars) in 2002 to 36.4 billion dirhams (4.5 billion dollars) in 2007, adding that since 2000, Morocco is among the top three countries in Africa being the most attractive in terms of FDI.
"Morocco has taken steps to liberalize its economic sectors, in particular key services." "It has reduced the level of its average tariff protection by 13.2 percentage points to 20.2%," the report noted.
It added that "a taxation reform, including the simplification of the tariff structure through the elimination of variable duties, and a reduction of the number and levels of rates, particularly in the agricultural sector, would help Morocco to fully honour its multilateral commitments and would further simplify its trade regime."
Quoting the International Monetary Fund (IMF), the report underlined that “the outlook for Morocco's economy remains positive,” noting that the north African country “has been spared to some extent the global financial upheavals because its external debt is relatively low and long?term, and because its macroeconomic policies have been strengthened.”
For the WTO, Morocco’s economic growth “will probably remain relatively strong in the medium term and the balance in the external current account stable, even though a small deficit may emerge in the medium term.”
Earlier in the day, Moroccan Foreign Trade Minister, Abdellatif Maazouz, highlighted during the opening session of the 4th meeting to review Morocco’s trade policy by the WTO the good performances of the kingdom’s economy since 2003.
The emergence of new businesses reduces the volatility of our growth and GDP per capita has almost doubled between 2002 and 2007, he said.
Maazouz noted that foreign direct investments (FDI) have increased, jumping from 6 billion dirhams (747 million dollars) in 2002 to 36.4 billion dirhams (4.5 billion dollars) in 2007, adding that since 2000, Morocco is among the top three countries in Africa being the most attractive in terms of FDI.
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