Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Cash-strapped Morocco courts US investment  Join our daily free Newsletter

MENAFN - AFP - 10/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) Morocco's finance minister on Monday urged US businesses to boost investment in the country and take advantage of "unprecedented" regional growth, as the cash-strapped government battles to fix its ailing finances.Rabat is a key regional ally of Washington, particularly in the fight against Islamist militancy. King Mohammed VI met President Barack Obama at the White House for the first time last November, although his visit came after diplomatic ties were strained over the sensitive question of human rights in the disputed Western Sahara.Speaking at the opening of a bilateral business conference in Rabat, Mohamed Boussaid said trade between Morocco and the United States had risen four-fold between 2005 and 2012, to reach 4 billion (2.8 billion euros).But the minister lamented the fact that US investment in the country, which amounted to just 195 million in 2012, represented less than 0.1 percent of US investments worldwide. "We invite you... not just to be one our major trade partners, but to seize the opportunities available to us in the West Africa region, which is destined to experience unprecedeted economic growth and development, in which Morocco plays a leading role," Boussaid said.

Morocco was badly affected by the financial crisis in Europe, its top trade partner, and has struggled to contain a ballooning public deficit.The authorities have strenuously promoted the country as a bridge between Africa and the West, in a bid to encourage foreign investment and trade.The Moroccan king is currently on an extended tour of West Africa to strengthen diplomatic and commercial ties with Mali, Ivory Coast, Guinea and Gabon.Moroccan officials frequently refer to the kingdom as an "exception" in the North Africa region, emphasising its stability in contrast with the Islamist unrest and political upheaval witnessed elsewhere.After three years of decline, Morocco became the largest recipient of foreign direct investment in North Africa for the first time in 2012, according to the United Nations, with investments of 2.84 billion, which rose again in 2013 to 3.5 billion.American companies with a significant presence in Morocco include Boeing, clothes manufacturer Fruit of the Loom and computer giant Dell.

 


AFP




  MENA News Headlines
 Jun 28 2016 - US dollar stable against Kuwaiti dinar at KD 0.301, euro rises to KD 0.334Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, June 28 (KUNA) -- The US dollar on Tuesday stabilized against the Kuwaiti dinar at KD 0.301, as the euro rose to KD 0.334, compared to Monday''s trades, ...

 Jun 28 2016 - Kuwait- His Highness Premier Sheikh Jaber Al-Mubarak hosts outgoing Armenian ambassadorKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, June 28 (KUNA) -- His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah received on Tuesday the outgoing Armenian Ambassador to the ...

 Jun 28 2016 - 8 wounded in Turkey car blastKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) ISTANBUL, June 28 (KUNA) -- A booby-trapped car blew up in Diyarbakr in southeastern Turkey on Tuesday wounding at least eight persons, the Ekhlas news agency ...

 Jun 28 2016 - Juncker calls on Cameron to clarify situationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BRUSSELS, June 28 (KUNA) -- President of the European Commission Jean-Claude Juncker said here Tuesday that he will ask British Prime Minister David Cameron ...

 Jun 28 2016 - French shares rebound strongly after early steep lossesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) PARIS, June 28 (KUNA) -- Share prices on the Paris Stock Exchange rebounded strongly by almost 3.0 percent in morning trading Tuesday, following a lost of nearly ...

 Jun 28 2016 - Kuwait Foreign Ministry condemns bombings in LebanonKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, June 28 (KUNA) -- The Foreign Ministry on Tuesday expressed strong condemnation of the terrorist blasts that occurred close to the Lebanese custom ...

 Jun 28 2016 - Kuwait's Al-Najat Charity offers Eid aid to Syrian refugees in JordanKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) AMMAN, June 28 (KUNA) -- Kuwait-based Al-Najat Charity on Tuesday started offering relief aid to Syrian refugees in Jordan for the Muslim holy fasting month of ...

 Jun 28 2016 - Jerusalem holy site closed to non-Muslims after violenceThe Peninsula
(MENAFN - The Peninsula) Israeli security forces stand guard at the entrance of theAl-Aqsamosque compound in Jerusalem''s Old City, on June 27, 2016, following a second day of clashes between Israeli ...

 Jun 28 2016 - Suicide bomber kills nine at Iraq Sunni mosque: officialsThe Peninsula
(MENAFN - The Peninsula) Baghdad:A suicide bomber detonated explosives at a Sunni mosque near Baghdad where worshippers were gathered for prayers, killing at least nine people, officials said ...

 Jun 28 2016 - Assad's uncle charged in Paris with corruption: anti-graft groupThe Peninsula
(MENAFN - The Peninsula) Paris:Paris prosecutors have charged the uncle of Syrian President Bashar al-Assad with corruption, an anti-graft group said Tuesday. Rifaat al-Assad, 78, who was ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help