Moroccan economy and finance minister in London Sunday
Morocco-UK, Economics, 2/19/2000

Moroccan Economy and Finance Minister Fathallah Oualalou is expected in London Sunday on a three-day visit to the United Kingdom.

Oualalou, who will be accompanied by a large delegation of businessmen, will confer with British finance secretary of state, Mrs. Dawn Primarolo, and will chair a meeting between the two countries' economic operators.

He will also moderate a conference on Moroccan economy-- sponsored by the British company for the promotion of financial services "British Invisibles"-- that will debate the liberalization of the telecommunication sector in Morocco, the privatization of the carrier, Royal Air Maroc, and the reform of the banking sector.

The conference will be attended by bankers, legal and financial experts, accountants, as well as delegates of British companies operating in Morocco.

Maroc-Telecom will be sold to the private sector in 2000, and the telecom sector will be fully liberalized in the course of 2002. La Banque Centrale Populaire and La Regie des Tabacs (the tobacco company) are also on the privatization list.

The privatization will take place either through tender bids, the stock of exchange or by private contract.

Oualalou will dedicate the new offices of the London branch of La Banque Du Commerce Exterieur (BMCE bank), the first Moroccan bank to open offices in the city.

The British ambassador to Morocco, who will also make the trip to London, said in a statement sent to MAP that the visit will encourage British investors to show interest in the Moroccan market. "Opportunities do exist and it is necessary to present them to the appropriate people in the appropriate way," he said, adding that he would tell British economic operators that time is thrilling to work in Morocco and that they should not miss the opportunity.

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