Concrete measures contemplated to promote textile sector
Morocco, Economics, 9/21/2000

A set of concrete measures are being finalized to pull Morocco's textile sector out of its crisis, Mohamed Lahlou, chairman of the Moroccan textile and garments industry association (AMITH) announced.

"The ministry of industry, trade, energy and mining assured us that exports-related problems are being examined and that concrete measures will be implemented in the few coming weeks," Lahlou told MAP news agency.

These measures are needed to limit the losses and the hemorrhage in several firms, following the increase of the value of the dirham against the European single currency (Euro) and the French Franc, he said, adding that most of Moroccan textile and garments transaction are made in these two currencies.

The Moroccan Dirham increased by 20% compared to the French Franc within one year and a half (1 dh is 1.44 FF), he said, adding that this slump in the two European currencies put several Moroccan enterprises in disarray.

According to Lahlou, a return of the dirham to its normal value (1 FF for 1.73 dh) can contribute to boosting the sector's performance.

Despite the slump of the Euro and the FF, some Moroccan firms managed to consolidate their position in Britain, Spain and the United States. Some professionals say the sector posted a 6% increase during the first half of 2000, thanks to hosiery products.

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