Morocco's economic policy must meet EU cooperation requisites

Morocco's economic policy must meet the requirements of cooperation with the European Union, Moroccan minister of finance and privatization, Fathallah Oulaalou, said.

The country's economic policy must be harmonious with EU cooperation, Oulaalou said at a meeting with Christoph Zypel who leads a German parliamentary delegation of the Social Democrat Party (SPD).

The minister underscored the "importance of EU's role in accompanying Morocco's economic and social development process," recalling that Morocco's trade with the union makes 70% of the overall.

"Our country remains the closest candidate to striking an economic partnership deal with Europe," he said, deeming it necessary that Morocco-EU cooperation become more effective to boost the kingdom's economic and social take-off.

Touching on Morocco's reforms, the Moroccan minister said "housing, administration modernization and justice reforms are major issues in Morocco's democratic project," adding that they remain, however, dependent on EU's support in the framework of the MEDA program.

On his part, Christoph Zypel said "EU member countries should coordinate their action to develop the prospective cooperation with Morocco, adding that "the union's grants to Maghreban countries in the framework of MEDA can not solve these countries' economic problems alone.

The EU should be a mediator between countries of the south shore of the Mediterranean for better cooperation.