L'Economiste: IMF head recommends better Maghreb trade and economic integration

Managing Director of the International Monetary Fund (IMF), Rodrigo de Rato recommended, Wednesday, a better regional trade and economic integration at the level of the Maghreb (north Africa).

In an article published in the Moroccan daily "L'Economiste," Rato noted that Maghreb markets are "small and fragmented" and the key word to achieve development lies in "integration and openness."

He deplored the weak trade exchanges between the Maghreb countries as trade exchanges between Morocco and Algeria represent only 2% of the total trade exchanges of the two countries.

Integration would create a regional market of over 75 million consumers, which "would generate efficiency and make these countries more attractive to foreign investment," said the IMF official.