Moroccan official chairs economic debate and gala in memphis-in-may festival

Moroccan secretary of state for cooperation, Aicha Belarbi, chaired last week in Memphis, Tennessee, an economic debate and a gala held as the city featured Morocco as guest of honor in its Memphis in May Festival.

Debates centered on advantages of doing business in Morocco, especially after the multiple reforms adopted to improve production and exports and in view of the encouraging macro-economic indicators. The Moroccan official told the attendance that the Kingdom posted in 1998 a 6.3% growth rate and its budget deficit did not exceed 3% while inflation stood in March 1999 at 2.8%.

She also underscored the major modernization of the laws governing enterprises, the adoption of a new investment code and the recent creation of a national agency for the promotion of investments.

Belarbi called US investors to take advantage of the US Eizenstat initiative, for the promotion of partnership between the USA and the Maghreb countries, and of the facilities granted by the American chamber of commerce of Casablanca and the Morocco-US council for trade and investments.