Morocco, Algeria trade exchanges drop by 6.8pc
Morocco-Algeria, Economics, 5/21/2005

Trade exchanges between Morocco and Algeria dropped from MAD 1.9 billion (USD 223 millions) in 2003 to MAD 1.77 billion (USD 208 millions) in 2004, i.e a regression of 6.8pc.

These figures have been revealed by Moroccan Foreign Trade Minister, Mustapha Mechahouri, at an international symposium held in Rabat on "Moroccan-Algerian cooperation and the construction of the Maghreb."

"Bilateral exchanges do not reflect the two countries' economic potentials," said the Moroccan official, highlighting the need to bolster two-way trade through an optimal exploitation of human and natural resources of the two neighboring countries.

The symposium underlined the need to profit of the current positive and promising climate marking Morocco and Algeria political relations in order to boost economic ties.

Relations between the two Maghreban countries were tense, notably because of Algeria's support to the Polisario Front in its claims for the separation of the Moroccan Sahara from the rest of the country.

However, bilateral relations have significantly improved after the visit of King Mohammed VI to Algiers last March (22-23) to take part in the Arab summit, and Algeria's decision to lift visa requirements for Moroccan citizens.

Amina Belkaydi, Secretary General of Centre Lyoussi for studies and political research, that organized the encounter, highlighted the positive aspects marking bilateral relations at present, including the inauguration of an air link between Casablanca and Oran.

"It is high time to give a new impetus to bilateral trade and economic relations," she insisted, noting that exchanges scarcely exceeded Euro140 million in 2004.

Participants underscored that economic relations are a "basic need" to achieve sustainable development in a climate of mutual trust.

Previous Stories:
  Creation of Moroccan-Algerian Chamber of Commerce   (4/26/2005)
  Moroccan and Algerian business operators consider ways to re-launch economic cooperation   (2/7/2005)
  Algerian business delegation in Morocco to boost bilateral cooperation   (1/26/2005)

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