Moroccan-Italian industrial partnership days in Italy
Morocco-Italy, Economics, 2/26/2000

Moroccan-Italian industrial partnership days were held in the Italian cities of Catane, Napoli and Bari, February 21-25.

Moroccan and Italian industrialists and businessmen explored at seminars and workshops partnership opportunities and discussed the advantages provided to foreign investors in line with the Moroccan investment code that came into force in 1995.

The Moroccan side to the event-- sponsored by the Moroccan Office de Developpement Industriel (ODI) and the Italian foreign trade institute (ICE)-- pointed out that the number of industrial joint ventures set up by Moroccan and foreign partners amounts to 1,030.

As to Italian investments in Morocco, they amounted to $6 million in 1998 compared to $3.4 million in 1997. Italian capital was mainly injected in the sectors of car industry, textile and ready-to-wear, public works, electronics, packaging and telecommunications.

Agri-industry, chemistry, mechanical and electromechanical industries are other sectors offering great investment possibilities.

The Moroccan delegation stressed the need to consolidate cooperation between the two banks of the Mediterranean to face up the growing competitiveness of Southeast Asian firms and US giants.

Italy decided a few months ago to swap $100 million in debts owed by Morocco into investments by Italian small and medium-sized enterprises. The debt is assessed at nearly $636 million (6.36 billion DH), i.e. 3.6% of Morocco's public debt and 9.2% of debts to the club De Paris.

Italy equally decided to open over the three coming months a credit line of about $16 million (30 billion Liras) for Moroccan small and medium-sized enterprises.

Morocco is Italy's third trade partner and trade exchanges between the two countries totaled $679 million in the January-September period last year.

During the period, Moroccan imports were worth $419 million and exports totaled $260 million. Exports to Italy are made up mainly of fertilizers, fresh fish and garments, while imports are made up mostly of cars, machinery and various industrial tools.

Previous Stories:
  Moroccan-Italian partnership day in Casablanca   (2/3/2000)
  Italian official calls for enhanced cooperation with Morocco   (2/3/2000)
  Moroccan-Italian joint working group set up   (2/2/2000)

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