Morocco's finance minister examines U.S.-Maghreb cooperation initiative

The U.S. initiative to encourage inter-maghreban economic exchanges topped talks held here on Wednesday between Moroccan economy and finance minister, Fathallah Oualalou and U.S Under-secretary of state for economic affairs, Stuart Eizenstat.

Oualalou told MAP bureau in Washington that the US initiative consists mainly of a strategy geared towards the promotion of commercial exchanges among Morocco, Algeria and Tunisia, on the one hand and between these countries and the USA, on the other.

The American approach "has a bilateral and regional dimension," Oualalou said.

The initiative was announced during Eizenstat's tour in the Maghreb last June.

The initiative revolves around establishing a permanent dialogue at the highest level between the USA and the Maghreban countries, encouraging these countries to lift barriers to ensure a better flow of trade exchanges and materializing inter-Maghreban complementarity leading to better political relations.

In a bid to materialize its initiative, Washington will host a ministerial meeting at the end of the year and a regional conference on investment will be convened by the U.S. administration early next year.

Oualalou and Eizenstat also reviewed ways to enhance economic cooperation between Morocco and the USA.