Agadir 24 | Agadir24/UAE
Prime Minister Aziz Akhannouch confirmed today, Monday, October 4, 2024, that Morocco has been able, despite all successive circumstances and contexts, to strengthen its position in strategic sectors, which has enabled the national economy to achieve continental and international leadership in a number of modern industries.
Akhannouch highlighted, in a presentation he made during the monthly accountability session in the House of Representatives on the topic of “foreign trade,” that thanks to the government policy adopted, in line with the high royal directives, the Kingdom has become a distinguished partner and a key player with high credibility, in addition to its availability on a suitable economic basis for various investments. Supported by a set of institutional reforms that the government has undertaken since its inauguration.
He stressed that the government’s trend towards strengthening the Kingdom’s relations with its traditional partners and opening up to new markets has made it a real platform for trade exchange, establishing win-win partnerships at the regional and international levels and creating bridges of integration and cooperation in the global environment.
In this regard, Akhannouch explained that the previous phase of the government’s work was characterized by the establishment of a number of national reforms and strategies that contributed greatly to facilitating the process of foreign investments, liberalizing trade exchanges, and strengthening the Kingdom’s position as a regional platform for manufacturing and exporting to a large number of national and international companies, noting that The government paid special attention to economic openness as an irreversible strategic choice, and accompanied it with all support mechanisms aimed at establishing an appropriate environment capable of supporting growth and stimulating investments.
He stressed that the Kingdom has shown a great ability to withstand circumstantial fluctuations, despite the successive economic shocks it has suffered like the rest of the world, “which enabled it to achieve an important growth rate of 3.4 percent in 2023, with an average growth rate recorded during the last three years.” Approximately 4.4 percent.”
He continued by saying that a noticeable decline in inflation rates was recorded, reaching 1.1 percent during the first nine months of 2024, compared to 6.1 percent at the end of 2023, pointing out that this rate is considered low compared to most neighboring countries.
The Prime Minister recorded that despite all the challenges, “the government led, with determination and determination, an exceptional process of adapting to the rapid changes in the international market, which contributed to strengthening national sovereignty in a group of strategic sectors in response to the High Royal Directives.”
He said that Morocco was able to achieve important gains in the economic and social fields, which made it a leading model in the Middle East and North Africa, noting that the Kingdom, thanks to the integrated royal vision, has become an open economic and commercial workshop at the regional and international levels, “which made it possible to direct the country towards strategic projects.” Its basis is building a competitive economy, which has made it an attractive pole for foreign investments and a pivotal bridge between all continents and countries.”
Akhannouch stressed that the government has taken upon itself to activate the sound royal vision “by making additional efforts to strengthen foreign trade and enhance national exports as a lever for growth and development, and to make the national economy and Moroccan enterprise more competitive in this field, especially by targeting diverse markets and partners in order to preserve the sustainability of this.” sector.”
He concluded by saying that the government, since its inauguration, has dealt with full awareness of the dire effects of the global economic crisis, reducing the seriousness of the repercussions of geopolitical conflicts and the extent of their impact on vital supplies and global supply chains, and the high level of environmental risks and climate fluctuations. (…) Therefore, we were called upon more than ever to strengthen our country’s ability to withstand and overcome all difficulties, and to exploit the opportunities of political and macroeconomic stability that the Kingdom enjoys to ensure its continental and international position, and at the same time to preserve the largest possible number of jobs, and to ensure the steadfastness of… Moroccan enterprise in the face of circumstantial fluctuations and protecting its competitiveness.”
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**Interview with Prime Minister Aziz Akhannouch on Morocco’s Economic Achievements and Challenges**
**Interviewer:** Thank you for joining us today, Prime Minister Akhannouch. It’s a pleasure to have you here to discuss Morocco’s current economic landscape, especially as you’ve indicated significant growth and strategic advancements.
**Prime Minister Akhannouch:** Thank you for having me. It’s a crucial time for Morocco, and I’m eager to highlight our progress.
**Interviewer:** You mentioned in your recent presentation that Morocco has achieved a growth rate of 3.4% in 2023, despite global economic challenges. What strategies do you attribute this success to?
**Prime Minister Akhannouch:** Our success stems from a combination of institutional reforms and a clear government policy aligned with royal directives. We’ve focused on enhancing our partnerships with both traditional allies and new markets, enabling us to create a robust platform for trade and foreign investment.
**Interviewer:** That sounds promising. You’ve also noted a significant decrease in inflation, which has dropped to 1.1%. How do you think this will impact everyday Moroccans?
**Prime Minister Akhannouch:** A lower inflation rate means more buying power for our citizens. It reflects our commitment to maintaining economic stability and demonstrates that our strategies are effective. This will ultimately improve the quality of life for many families in Morocco.
**Interviewer:** Can you elaborate on Morocco’s position in global trade? What makes it a key player on the international stage?
**Prime Minister Akhannouch:** Morocco has strategically positioned itself as a manufacturing and exporting hub. Our government has facilitated trade exchanges and attracted various international companies by creating a conducive investment environment. We’re increasingly recognized for our credibility and capacity to engage in meaningful trade partnerships.
**Interviewer:** Looking ahead, what are the challenges that you foresee for Morocco in the coming months, and how do you plan to address them?
**Prime Minister Akhannouch:** While we’ve made significant strides, we remain vigilant about potential global economic fluctuations. Our focus will be on continuing to adapt to these changes by investing in strategic sectors and enhancing our economic resilience, ensuring we remain a leading model in the region.
**Interviewer:** Thank you, Prime Minister Akhannouch, for sharing these insights. It’s inspiring to see Morocco navigating challenges while pursuing growth.
**Prime Minister Akhannouch:** Thank you. I appreciate the opportunity to discuss our progress and look forward to continuing to strengthen Morocco’s economic position on the world stage.
