Confederation of British industry impressed by Morocco's economic reforms

"The Confederation of British Industry (CBI) is impressed by Morocco's economic reforms," CBI's director general, Digby Jones, said Thursday.

Digby made the statement at the opening of an economic conference on Morocco held here, in the presence of Moroccan minister of trade, industry, energy and mining, Mustapha Mansouri, and King's advisor, Andre Azoulay, Moroccan businessmen, and British secretary of state in charge of international commerce and investment, the Baroness Symons.

The two kingdoms' exchange volume which is rising constantly, reached 7.3% of Morocco's foreign trade in 2000, and 11.7% from its trade with the European Union, that is 14.6 Billion Dirhams ($ 12,6 Mln), which makes Britain Morocco's third commercial partner, the Baroness said.

Morocco-Britain commercial exchanges tripled in five years thanks to the political and economic reforms undertaken in Morocco, she added.

Morocco is the first country to have signed an association agreement with the European Union thanks to which, the Customs taxes will come down to zero by the end of the decade.