On February 10, 2020, Mr. Mohamed BENCHAABOUN, Minister of Economy, Finance and Administration Reform went to Brussels, leading a large delegation of Ministry officials, including Mrs. Fouzia ZAABOUL, Director of the Treasury and External Finance and Mr. Khalad ZAZOU, Acting Director General of the Tax Department (DGI). The delegation was also made up of representatives of Bank Al-Maghrib, the Exchange Office and the Financial Intelligence Processing Unit.
During his visit, Mr. BENCHAABOUN met with Mr. Paolo GENTILONI, European Commissioner for Economic and Financial Affairs, Taxation and Customs.
The discussions focused on economic relations between Morocco and the European Union as well as issues of common interest, especially those relating to taxation and the customs issue of rules of origin.
In this regard, the two parties praised the good relations between Morocco and the European Union, which is our country's main economic partner, particularly in terms of trade and foreign direct investment.
The Moroccan Minister presented to the European Commissioner the efforts made by Morocco with regard to the harmonization of its legal system with the standards of good fiscal governance and the requirements of the European Union. In this respect, Mr. GENTILONI expressed his support for the steps taken by Morocco in this area and welcomed the close cooperation between the European Commission services and those of the Ministry of Economy, Finance and Administration Reform.
In addition, the Minister of Economy, Finance and Administration Reform mentioned the difficulties identified during the process of reviewing the regional convention on Euro-Mediterranean rules of origin. He stressed, in this regard, the importance for Morocco to have more flexibility in terms of the preferential rules of origin applicable to strategic products, such as vegetable oils, tobacco, canned fish and textile products, with a view to strengthen the Moroccan export offer and preserve the sustainability of our trade balance.
Mr. BENCHAABOUN also stressed the need to review the cooperative relations between the European Union and Morocco in ways that meet the interests of both parties.
Moreover, during a meeting held on the sidelines of this event with officials of the European Commission in charge of financial stability, financial services and capital markets union, the Moroccan delegation highlighted the various actions currently being carried out by Morocco in the fight against money laundering and the financing of terrorism. In this regard, the two parties agreed to continue discussions within the framework of the global vision of cooperation between Morocco and the European Union.