King Hassan calls Canadian investors to increase action in Morocco
Morocco-Canada, Economics, 2/26/1999

King Hassan II called Thursday Canadian investors to increase their action in Morocco and said the timidity of Canadian economic operators in Morocco, where they account only for 1 % of foreign investments, is not coherent with the proximity of the two countries' business communities.

The king made the statement at a luncheon hosted in honor of Canada's general governor, Romeo Leblanc, and his accompanying delegation of businessmen, artists, intellectuals, senators and Canadian minister of francophony and international cooperation.

The sovereign said Canadians have a very average performance in comparison with the legal and regulatory frame set forth to guarantee best chances of partnership between the two countries.He also affirmed that Canada hosts a Moroccan community estimated at 60,000 persons who in addition to their appreciated and appreciable contribution to community life should be privileged vectors for the promotion and diversification of exchanges and in restoring the trade balance which posts a large deficit for Morocco.

"Canada can propose, today, to Morocco partnership associating expertise, experience and capital while Morocco can be, for Canada, a regional launching pad to markets in the Mediterranean, the Middle East and Africa for its technology and products," the king stated.

After deploring Israel's systematic denial of its peace commitments with the Palestinians, as an attitude that weakens and jeopardizes the difficult contract of confidence-building which Madrid and Oslo accords started to establish between Arabs and Israelis, the king hailed Canada's efforts to alleviate the suffering of Palestinian refugees. Taking the floor, the Canadian official stressed that his country "is following with great interest changes in the kingdom and that are consolidating existing democratic and representative institutions." He added that these changes "have made of Morocco an island of stability and a model of progress."

The Canadian general governor who was referring to the appointment of a former leftist opposition leader as prime minister to lead a coalition government, said changes were made in the frame of representative institutions, in conformity with the will of the Moroccan people expressed through democratic elections."

Regarding Moroccan-Canadian cooperation, he said institutions from the two countries are carrying out a series of "strategic partnership" actions that offer young Moroccans training in high-tech fields such as data-processing and business management.

He added that this program is part of a long tradition of Moroccans studying in Canada, recalling that each year some 1,000 Moroccans follow higher education in Canadian institutes and colleges. He went on that the traditional exchanges between the two countries should be transcended as Canada which is a country of state-of-the art technology and recognized skills in mining, environment and transports also knows that Morocco has a lot to offer.

Previous Stories:
  Canada's general governor starts three-day state visit to Morocco   (2/25/1999)
  Morocco's candidate to WTO top position meets Belgian deputy-premier   (1/21/1999)
  Money transfers between Sweden and Morocco go electronic   (12/24/1998)

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