Highlights

Mr. Salaheddine Mezouar, Minister of Economy and Finance met Ms. Anne-Marie Idrac, French Secretary of State for Foreign Trade : 15/02/2010

Mr. Salaheddine Mezouar, Minister of Economy and Finance met Ms. Anne-Marie Idrac, French Secretary of State for Foreign Trade

On Monday, February 15th, 2010, Mr. Salaheddine MEZOUAR, Minister of Economy and Finance received at the headquarters of the Ministry, Ms. Anne-Marie IDRAC, French State Secretary for Foreign Trade. During this meeting, both sides welcomed the quality and dynamic of political and economic relations that link Morocco and France.

The two Ministers noted with satisfaction the development over the last two years of the financial cooperation between the two countries through the "Reserve Emerging Countries" plan. As such, a budget amounting approximately to 1 billion euros was mobilized in the last two years (625 million euros for the TGV, 150 million euros for Rabat tramway and 225 million euros for Casablanca tramway), in addition to a donation of 75 million euro to give assistance to project owners within the framework of the TGV project.

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on this occasion, the two ministers signed the Financial Protocol between the Government of the Kingdom of Morocco and the Government of the French Republic on a loan of 225 million euros (about 225 MAD), with a grant element of 42%, to finance the provision and maintenance of rolling stock for the Casablanca tram network .Were present at that event Mr. Mohammed Saad HASSAR, Secretary of State to the Minister of Interior and Mr. Youssef DRAIS, Director General of Casa transport.

Moreover, a funding agreement was signed between Mr. Mostafa TERRAB, CEO of the OCP and Ms. Emmanuel BOUVIER D`YVOIRE, Global Head export and trade finance and Olivier TOPUZ, Manager Africa Export and Trade Finance Credit Agricole Corporate & Investment Bank (France). This ceremony was attended by Mr. Salaheddine MEZOUAR, Minister of Economy and Finance, Ms Amina BENKHADRA, Minister of Energy, Mines, Water and Environment, Mr. Ahmed Reda CHAMI Minister of industry, commerce and new technologies and Anne-Marie IDRAC, French Secretary of State responsible for Foreign Trade.

This agreement concerns credit buyer of $ 500 million guaranteed by COFACE, to finance commercial contracts for the OCP purchasing of equipment , goods and services from different providers and that, under the implementation of the OCP strategy to increase its production and exports capacities and reduce its operating expenses.

Finally, Mr.Salaheddine MEZOUAR and Ms. Anne-Marie IDRAC stressed that the implementation of current cooperation projects is likely to give new impetus to bilateral economic and financial cooperation and reaffirmed their determination to further strengthen it.