The Moroccan Foreign Trade Minister Abdellatif Maazouz revealed :
The WTO has reported that the macroeconomic, structural and commercial reforms that Morocco has undertaken since 2003 have contributed to a growing diversification and a positive overall performance of its economy.
The WTO’s report on Morocco’s trade policies and practices also underlined that these reforms have allowed the country to achieve an average annual real GDP growth rate of 4.5% between 2002 and 2007 and 5.8% in 2008.
This coupled with the kingdom’s efforts to liberalise its economic sectors, increase trade zones and providing “average tariff protection,” has enabled them to turn the public deficit into a surplus, reduce foreign debt and curb inflation.
“The outlook of Morocco’s economy remains positive,” it said, quoting the International Monetary Fund (IMF).
“This review is a real success for Morocco,” the chairman of the WTO session, Istevan Major told MAP news agency, adding that “Morocco’s economic figures are impressive and valued by WTO member-countries.”
“These investments jumped from MAD 6 billion (USD 747 million) in 2002 to MAD 36.4 billion (USD 4.5 billion) in 2007,” Maazouz said during the opening session of the 4th meeting to review Morocco’s trade policy by the WTO.
The meeting was held in the WTO headquarters in Geneva on June 24-26 with the participation of a Moroccan delegation composed of the foreign trade minister and a number of officials representing other ministerial departments.
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