The momentum of reforms in Morocco highlighted at a conference in Lisbon : 15/06/2011

The momentum of reforms in Morocco highlighted at a conference in Lisbon

MOROCCO IS CHANGING: A Mediterranean and Atlantic neighbour partner. This was the theme of the conference organized by the Embassy of Morocco in Lisbon (Portugal), June 15th 2011. During this event, Mr. Mohamed CHAFIKI represented the Department of Studiese and Financial Forecasts.     
The event that brought together several high-level participants from Morocco and Portugal, including the President Mario Soares, focused on two key aspects:
  • The reforms` momentum and prospects in Morocco: a panel where major policy reforms were discussed, namely constitutional reform, regionalization, justice reforms, Moroccan women`s status and basic rights and freedoms.
  • Morocco: assets to the outsourcing of Portuguese firms: In this panel, the Portuguese, such as BES Banks and Tecnovia infrastructures reported that the incentive investment framework, the financial system and modern banks become: recognized assets for investment, production and exchange platform. Mr. Mohamed CHAFIKI was asked to talk about this issue.

In his speech, Mr. Mohamed CHAFIKI presented the new geography of global growth. He highlighted the ongoing structural changes, namely the transformation of the geography of growth. In fact, emerging and developing economies increased at a rate higher than that of developed countries. They now provide nearly 40% of world production, against only 25% twenty years ago.

Mr. CHAFIKI also stressed the reconfiguration of the world industry map and the emergence of demographic forces as drivers of global economy. The breaking point poses stakes and challenges related to the following problems: the market and the State power, the Social welfare systems as part of a less and less integrating development pattern: the labour markets` crisis , social inequality, the reconfiguration of the production systems and the international division of labour.

In this changing global context, the Moroccan economy has shown strong resilience and strong growth potential. In this sense, the Director recalled that the Moroccan economy increased to 4.8% in 2005-2009 after 4% in 1999-2004 and 3.2% in 1990 - 1999, diversified its sources of growth and tertiarised its production system without unbalancing the macroeconomic fundamentals. The Director put emphasis on the role of domestic demand in the growth dynamics, the various components of domestic demand that performed favourably between 2000 and 2010.

In his speech, the Director focused on the process of structural and sector-based reforms, initiated since the beginning of the last decade and accelerated in recent years. They reflect the policy and the commitment of the Government to improve the development pattern of the Moroccan economy and to strengthen Morocco`s status for a better integration into the global economy. These structural reforms aim at macroeconomic stability, increasing the openness of the economy, concluding Many free trade agreements, opening to the global capital market, strengthening the strategic role of the state and supporting public-private partnership, providing an institutional and regulatory framework conducive to investment and renovated sector-based strategies. In this regard, Mr. Chafiki highlighted the different implemented sector-based strategies that reinforce progress in economic growth and allow setting new goals for 2020.

The Director recalled that the public policy is directed to improve human development indicators and promote a state working for the public interest (the Constitution`s ambitious reform; the reinforcement of an extensive policy of regionalization...).

Morocco is part of new development models that challenge institutional innovations which serve a more inclusive economic and social transformation.