Quotes: US 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 unprecedented 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.


 






  MENA News Headlines
 Jul 25 2014 - Gilas Last Home Stand that never wasArab News
(MENAFN - Arab News) E fiasco that happened on Tuesday night in what was supposed to be the first of two tune-up matches for Gilas Pilipinas against a crack NBA selection certainly left a bad taste ...

 Jul 25 2014 - Indian Tech Mahindra, Saudi Midad Holding sign dealMENAFN
(MENAFN) Indian IT giant Tech Mahindra Ltd has signed a joint venture with Midad Holding to expand its existence in Saudi Arabia, according to Arabian Business.The JV will be called Tech Mahindra ...

 Jul 25 2014 - Kuwait's Jazeera profit falls in H1MENAFN
(MENAFN) Rising fuels costs and forced rerouting of flights due to unrest in the Middle East affected the net profits of Kuwait's Jazeera Airways Group in the first half of 2014, according to Arabian ...

 Jul 25 2014 - Dubai's R&B launches two stores in SaudiMENAFN
(MENAFN) The Dubai-based giant Apparel Group's fashion arm R&B, most recognized for its exciting portfolio of international fashion and accessories brands, plans to open two stores in Dhahran and ...

 Jul 25 2014 - Adam Levine offers Knightley recording dealKhaleej Times
(MENAFN - Khaleej Times) Dam has just started a label called 222 Records and has been trying to persuade Keira to sign a deal with him the source added.Photo: AgenciesKeira Knightley has been ...

 Jul 25 2014 - Beyonce Jay Z started to go their separate waysKhaleej Times
(MENAFN - Khaleej Times) E source also added that the tour will be the last for Jay Z 44 and Beyonce 32 after marriage counsellors failed to help them get their relationship back on track.Photo: ...

 Jul 25 2014 - Casablanca piano up for sale in New York in NovemberKhaleej Times
(MENAFN - Khaleej Times) Lsons character Sam first played the song on the piano for Bogarts character Rick and Bergmans Ilsa when they fell in love in Paris as Nazi troops advanced on the French ...

 Jul 25 2014 - Im very old-fashioned: BhagyashreeKhaleej Times
(MENAFN - Khaleej Times) Ine Pyar Kiyas Bhagyashree indulges in a bit of nostalgia as she talks up her new TV series Supplied photoThe lovely and seemingly ageless Bhagyashree is probably best known ...

 Jul 25 2014 - Daily probiotics may regulate blood pressureKhaleej Times
(MENAFN - Khaleej Times) Ring the study researchers analysed results of nine high-quality studies examining blood pressure and probiotic consumption in 543 adults with normal and elevated blood ...

 Jul 25 2014 - Al-Athr showcases abstract and geometry inspired works of artArab News
(MENAFN - Arab News) Ddah's Al-Athr Gallery is hosting the abstract and geometry inspired work of 40 local and international artists until Oct. 10.The gallery opened its door in 2009 and has already ...

more...


 






Google

Taqs

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help