British enterprises interested by Morocco's privatization program
Morocco-UK, Economics, 11/25/1998

British enterprises are interested in the Moroccan privatization program and several of these enterprises will apply to purchase the Moroccan companies that will be privatized, said chairman of the British Overseas Trade Board, Martin Laing.

Martin Laing, who is visiting Morocco on the occasion of the British week in casablanca (November 23-27), said at a news conference in Casablanca that some 40 British enterprises are already operating in Morocco in the sectors of water, sanitation, mining and industry, MAP reported.

He added that trade exchanges between Morocco and Great Britain have been multiplied by three folds during the past five years and that the number of British enterprises settled in Morocco has recorded a noteworthy increase.

Martin Laing surveyed the program of the British week that features a British education Fair, the first of the kind ever held in Morocco, a seminar on vocational qualifications aimed at professionals active in the field of vocational training in both the private and public sectors in addition to several cultural events such as a film festival, music concerts and exhibitions.

In another development, Martin Laing said in an interview published by "First Magazine" in a special report dubbed "Emerging Morocco," that trade links with Morocco go back to the late middle Ages and in the late 19th century Britain was one of Morocco's most trading partners.

Recently, he added, there has been a significant increase in bilateral trading activity with UK exports in 1997 totalling a record $357 million and Moroccan exports to the UK being of approximately the same value. Britain is now Morocco's 7th largest supplier and is Morocco's 6th largest market.

Trading partnership between Britain and Morocco is a strong and healthy one and Morocco is a country with an emerging economy that offers enormous opportunities for british products and services, he said.

As to the priority sectors which offer good potential to British companies, Laing mentioned agriculture, fisheries, water and waste water, industrial machinery, medical, textiles, power generation, food packaging and processing and transport.

The British executive also surveyed the Moroccan financial and banking sectors saying these sectors are developing "at an impressive rate" and the stock exchange has grown dramatically in recent years, with market capitalization rising 8 fold in the space of 5 years.

Martin Laing is leading a delegation of 7 British companies.

Previous Stories:
  Morocco needs 60,000 additional beds to meet tourist needs   (11/20/1998)
  Morocco wants more British investments   (11/18/1998)
  Moroccan exports of textiles cost billion dollars   (11/17/1998)

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