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Moroccan fishery sector brings home $500 million in hard currency
Morocco, Economics, 3/18/2000
The Moroccan fishery sector's share of hard currency remittances totals $500 million, accounting for 15% of the country's hard currency revenues and 50% of food products exports.
The Moroccan fleet comprises 446 high-sea fishing boats, 226 coastal fishing units and 12,000 traditional boats.
A total of 477 European ships, mostly Spanish ones, left Moroccan waters at the end of last November after Morocco refused to renew a fishing agreement with the EU and asked for other forms of cooperation rather than direct exploitation.
The Moroccan government said it intends to invest a budget of $700 million, including 70% of private capital, part of the 1999-2003 development plan.
Previous Stories:
Radi critical of classical Morocco-EU fishery relations
(3/10/2000)
Cephalopod fishery probes prospects in light of EU departure
(3/4/2000)
Harbor traffic increases by 9.1% in 1999
(2/10/2000)
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