Foreign Trade: Japan’s JETRO Opens Its First Maghreb Office in Rabat

Rabat - The Japan External Trade Organization (JETRO) opened, Thursday, its Rabat office, the first in the Maghreb and the 6th in Africa after Johannesburg, Cairo, Lagos, Nairobi and Abidjan. The inauguration of this new office opens a new page in the history of cooperation between Morocco and Japan and reflects the common ambition of both countries to further strengthen economic relations and Moroccan-Japa ...

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Morocco And EU Want To Conclude Win-Win DCFTA: European Commissioner

Brussels - Morocco and the EU share the common goal of concluding, as soon as possible, a win-win Deep and Comprehensive Free Trade Agreement (DCFTA), said EU Commissioner for Trade Cecilia Malmstrom. Morocco and the EU, which are negotiating since March 2013 the conclusion of a DCFTA, share the common goal of concluding, as soon as possible an agreement that takes into consideration the top priority intere ...

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Finnish Think Tank: Morocco, Bridge between Europe & Africa

Helsinki - The economic strategy adopted by Morocco in recent years has consolidated its position as a bridge between Europe and Western and Central Africa, "Finland Team" think tank said. "The Kingdom focuses on Africa for greater economic positioning on the continent that offers many partnership opportunities," the prestigious Finnish think tank said in an analysis of the economic benefits of Morocco. Tea ...

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Morocco plans to sell minority stake in Marsa Maroc

Rabat - The Moroccan government is reportedly planning to sell minority stake in state owned port operator Marsa Maroc through an initial public offering on the Casablanca Stock exchange. According to media reports, Marsa Maroc is seeking funds for its expansion. The Moroccan port operator plans a bid for two other terminals at the Casablanca Port and the second phase of Tanger Med II Port in Tangiers. The ...

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Morocco To Launch a $4.6 Billion Natural Gas Project

Rabat - Energy Minister Abdelkader Amara said that Morocco is planning to spend USD 4.6 billion in order to intensify the search for natural gas. The Minister said on Tuesday the project is aiming at producing 2,700 megawatts of electricity from Liquefied natural gas (LNG). The project is also expected to improve the kingdom's energy mix alongside renewables. The $4.6 billion will be spent on infrastructure ...

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Morocco’s Central Bank Governor Rules Out Any Inflation Pressure

Rabat  -  The governor of Morocco's central Bank "Bank Al Maghrib", ruled out any domestic or external inflation pressure, stressing that inflation will continue to evolve at "relatively" low levels with a sound balance of risks. BAM's governor, who was speaking at a press conference following the Bank's council meeting, expected inflation to stand at 0.4pc for all of 214, as a result of the rise in the min ...

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Lack Of Integration Costs Maghreb Countries 2 To 3% Of GDP: Expert

Tunis - The lack of regional integration in the Maghreb costs the region’s countries 2 to 3% of their GDP, president of the Moroccan economists association Mustapha El Ktiri said on Monday in Tunis. Speaking at a meeting on the Maghreban integration and the European Union, El Ktiri deplored that the Maghreban countries lose 3 to 9 billion dollars as a result of the current stalemate in the Maghreb Union. Th ...

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Morocco: €493,000 contract to modernize elevators of Mohamed V Airport

Rabat - The Moroccan subsidiary of Servicom, has reportedly signed a contract with the National Office of Airports on the modernization of elevators of the Mohamed V Airport in Casablanca. The total amount of the contract is worth around 439,470 euros under which Servicom will be responsible for the modernization of six existing elevators, according to media sources. Established in 2011, Servicom Morocco is ...

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Moroccan-Dutch Cleantech Entrepreneur Sun Raises €2 Million Venture Capital Funding

Rabat - Belgian growth investor Vermec leads round to expand Sales and Service Operations Eternal Sun B.V. announced that it has closed a €2 Million ($2.5 Million) Series A financing from Belgian investment firm Vermec N.V. The Delft based high-tech company that is founded by Chokri Mousaoui, is specialized in solar simulation technology. The investment will be used to expand international sales and service ...

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Moroccan Refiner La Samir Issues Profit Warning, Share Falls by 10%

Rabat - Morocco's refiner of petroleum products La SAMIR issued a profit warning on Wednesday, saying that the fall in oil prices worldwide would hit results despite the 15% increase in local sales and improved margins. "Like other refineries in the world, the strong oil price drop to around $65 from $110 in July will negatively affect the stock's value in 2014," the company said in a statement. However, an ...

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Moroccan Economy Improved Over Past 15 Years: Al Jazeera Center

Rabat - The Moroccan economy has remarkably improved during the last fifteen years, says a new report released on Monday, December 8th. The report issued by the Al Jazeera Centre for Studies and Research praised the kingdom's economic policies during the last fifteen years, saying that the Moroccan economy has witnessed a remarkable progression mainly due to the economic policy pursued by King Mohammed VI, ...

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BMCE Bank to Create New Subsidiary Specializing in Islamic Finance

Rabat - BMCE bank is reportedly planning to create a new subsidiary specializing in Islamic finance. The group owned by the Othman Benjelloun, Morocco's richest man, will embark on a joint venture with Saudi Arabia's Al Baraka Banking Group to create a new subsidiary specializing in Islamic finance. According to sources quoted by news website Le360, the Saudi group Al Baraka Banking Group, a world leader in ...

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