Mr. Salaheddine MEZOUAR, Minister of Economy and Finance, met Mr. Miguel Sebastian GASCON, Spanish Minister of Industry, Trade and Tourism on Monday February 9th, 2009 at the headquarter of the Ministry.
The two ministers expressed satisfaction with the quality and dynamism of political and economic relations between Morocco and Spain, and with the significant achievements reported in their last meeting of December 16th, 2008, during the 9th High-Level Moroccan-Spanish Bilateral Session.
Mr. MEZOUAR reiterated the importance of economic and trade relations between Morocco and Spain, and the necessity to consolidate Spain`s ranking as Morocco`s main partner.
With regard to financial cooperation, Mr. MEZOUAR reiterated his satisfaction with the conclusion of a financial cooperation programme signed during the 9th High-Level Moroccan-Spanish Bilateral Session. The programme amounted to ?250 million for the period 2009-2012.
Mr. MEZOUAR also underscored the necessity for closer cooperation and coordination between the two ministries, to ensure an efficient use of this financing. He also pointed out the MEF`s readiness to set up a working group to facilitate discussion on these issues.
The two ministers also discussed the potential effects of the international economic crisis on the economies of Morocco and Spain, and affirmed that the present economic climate requires sustained consultation and dialogue. Such a step is in effect the concretisation of the common declaration of the 9th High-Level Moroccan-Spanish Bilateral Session": "PARTNERS FOR DEVELOPMENT"
Mr. MEZOUAR pointed out that the government had taken measures in the 2009 Finance act to stimulate local demand, consolidate economic resilience, and control the effects of the crisis, especially sluggish foreign demand.
These measures mainly concerned a strong increase in public investment, improvement of purchasing power, boosting consumption, diversifying sources of growth through consolidating the ongoing sector-based policies, and implementing new sector-based policies (agriculture, water, and energy), and coaching the export sector by creating a fund to assist exports.
He also mentioned the setting up in Morocco of the Strategic Intelligence Committee in charge of following up on the evolution of the export sector, recommending measures to assist the sectors deeply hit by the crisis, and ensuring their implementation as well as assessing their impact.
Both Ministers, Mr. MEZOUAR and Mr. GASCON, praised the standard and breadth of cooperation between the two countries and underlined their determination to work together to consolidate such a cooperation, particularly in a context of crisis offering the two countries the possibility to promote further investment in expending sectors through a mutually profitable partnership.