Morocco - sub-saharan trade reach $440 million
Morocco-Regional, Economics, 4/24/2003

Morocco's trade exchanges with sub-Saharan countries reached an annual average of 4.4 billion Dirhams (US$ 440 million) between 1996 and 2002, the foreign trade department said Wednesday. These countries received 4% of Morocco's exports during the same period.

Imports make up $ 130 million, which is less than 3% of the kingdom's overall exports, and exports 270 million, i.e. 2.2% of total exports, an executive from the trade ministry told MAP.

Morocco's exports to sub-Saharan countries are mainly made of food, semi-finished products, phosphate products, industrial goods and equipment, canned foods, fish flour and garments.

It imports oil products, cotton, wood, coffee and coal. In order to make up for the low level of trade exchanges with sub-Saharan countries, Morocco has adopted recently a set of encouraging legal texts meant to increase partnership ties between Moroccan and African business operators, he said recalling the initiative taken by King Mohammed VI in April 2000 to exempt imports from these countries from customs duties and the conclusion of a package of trade agreement to consolidate the most-favored nation principle with 15 African countries. He also announced that Morocco and Gabon are projecting to sign a free trade agreement.

Previous Stories:
  Failure of WTO agricultural negotiations: morocco expresses disappointment of African group   (4/3/2003)
  Moroccan business delegation prospects Mali and Niger markets   (3/28/2003)
  Morocco decries alarming state of fisheries resources in Mediterranean Sea   (2/21/2003)

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