Moroccan premier returns home after successful visit to France
Moroccan Premier Abderrahmane Youssoufi returned Saturday home after a successful visit to France during which he managed to get a $ 750 Mln French aid to enable the new Moroccan Socialist led-government carry out several socio-economic development projects and alleviate the heavy debt burden.
The Moroccan Premier had co-chaired in Paris with his French peer, Lionel Jospin, the 2nd annual Moroccan-French High cooperation commission which wrapped works with the signing of a package of cooperation accords.
These accords deal with the alleviation of Morocco's debt, financial assistance to Moroccan small and medium enterprises, education promotion, vocational training in addition to water and electricity projects in rural zones.
The visit of Youssoufi to France was also marked by the signing of a $ 53 Million deal between Moroccan Electricity Office and a French Consortium for the construction of a 50.4 megawatt (MW) wind power plant in Northern Morocco.
The plant, first of its kind in Morocco, is expected to produce about 2 percent of Morocco's energy needs.
While in Paris, the Moroccan Premier was received by President Chirac and had talks with French peer Lionel Jospin, Speaker of the National Assembly, Laurent Fabius, and several leaders of French political parties.
Talks focused on Moroccan-French partnership in various sectors, the situation of Moroccan community in France as well as Morocco's political alternation experience and efforts to promote human rights culture and enhance the competitiveness of Moroccan enterprises.
At a news conference he held with Lionel Jospin following the commission's meeting, Youssoufi said the new French aid package will bring a new breath to Moroccan economy and will contribute to the success of Morocco's alternation experience.He also hailed the understanding shown by French officials regarding Morocco's problems, social development program and strategic priorities.
For his part, Lionel Jospin said the signed accords, which will level up the bilateral cooperation to the aspired goals, show France's strong determination to assist Morocco upgrade its economy, enhance its performance and preparing it for upcoming globalization challenges.
Morocco's foreign debt amounts to about usd 23 billion. About 19 percent of this debt, or some usd 4 billion, is owed to Paris.
France decided to covert about usd 125 Mln of the Moroccan debt into direct French investments. It is the 2nd debt swapping made by France in favor of Morocco in less than two years.
Before and during the visit of Moroccan premier to France, Morocco launched repeated calls to France for the alleviation of the debt burden to back Morocco's development process and political alternation experience.
France is Morocco's major client and supplier. In 1997, Morocco exported to France usd 1.2 billion goods, a figure representing 26.9 percent of Morocco's overall exports while imports from Paris stood at usd 1.6 billion during the same year.