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Moroccan Wine: Important Revenue-generating Activity Threatened by Taxation

Marrakech- Morocco is the second largest producer of wine in the Arab world. Wine production in Morocco began with the Phoenicians and the Romans. Following Morocco’s Independence in 1956, the wine industry declined as vineyards were nationalized. Later King Hassan II allowed foreign winemakers to pay for vineyards on a long lease, and winemakers, mainly French, began to restore Morocco’s wine industry to i ...

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Spain’s Exports to Morocco Up 5.4% in Jan-July 2014

Madrid - Spanish exports to Morocco came in at 3.44 billion euros in the first seven months of 2014, an increase of 5.4 percent compared to the same period in 2013, the Spanish Ministry of Economy and Competitiveness said Wednesday. Morocco maintains its position as the first African and Arab destination of Spanish exports, the ministry said in a statement, noting that the Moroccan market received 2.4 pc of ...

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Marrakech to Host 5th Global Entrepreneurship Summit on Nov. 20-21

Rabat - Held under the High patronage of King Mohammed VI, Morocco will host the 5th Edition of the Global Entrepreneurship Summit, in Marrakech on November 20-21st, 2014, under the theme "Harnessing the Power of Technology for Innovation and Entrepreneurship," said on Tuesday a statement by the  Ministry of Foreign Affairs. As a result of the Royal visit conducted by King Mohammed VI of Morocco to Washingt ...

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FM chairs first meeting in preparation for 5th Global Entrepreneurship Summit

Rabat - Foreign Minister Salaheddine Mezouar chaired, on Tuesday in Rabat, the first meeting of the preparatory committee for the 5th Global Entrepreneurship Summit slated in Marrakech on November 20-21. On the occasion, Mezouar lauded the selection of Morocco as a host country which reflects the active role Morocco plays in the overall economic development of the African continent, and the Kingdom’s leader ...

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Morocco, Russia to Strengthen Cooperation in Agriculture and Fisheries

Rabat - Morocco's minister of agriculture and sea fisheries, Aziz Akhannouch, reviewed on Tuesday with Russian agriculture minister, Nikolai Fiodorov and chairman of the Russian fisheries Agency, means to consolidate bilateral cooperation in agriculture and sea fisheries. The Russian agriculture minister told reporters that the meeting, taking place on the eve of the Moroccan-Russian joint commission, "mean ...

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Three Moroccan Women Among Forbes’ 200 Most Powerful Arab Women

 Fez- Three Moroccan women were selected among Forbes’ 200 most powerful women in the Arab World in 2014 in the category “family business.” The three powerful Moroccan women fare well as they occupy the first 50 spots of the most influential Arab women included in the list. The first Moroccan woman on the list is Meriem Bensalah Chaqroun, who ranked 15th, followed by the CEO of Aksal Group, Salwa Idrissi Ak ...

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Morocco’s Trade Deficit Down 3.1 pc Jan-Aug 2014

Rabat - Morocco's trade deficit came in at 131.1 billion dirhams in the first eight months of 2014, a drop of 3.1 percent compared to 135.3 billion dirhams in the same period in 2013, the Exchange Office said. Exports rose 1.8 percent to 262.79 billion dirhams, while imports edged up 7.1 percent to 131.72 billion dirhams, the Rabat-based Exchange Office said in a statement. Morocco's exports of automobiles, ...

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Morocco’s Managem first-half net profits fall 29%

Rabat - Moroccan mining company Managem announced their mid-year accomplishments on Monday.  The results of the company listed on the Casablanca stock exchange reported a 29 percent drop in first-half net profit attributable to shareholders to 151 million Dirhams ($17.6 million) hurt by the fall of metal prices which negatively affected the productivity of the Moroccan mining operator, according to Reuters. ...

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Morocco Alcohol Sales Hit Historic Low

Taroudante- Alcohol sales in Morocco, particularly wine, have fallen sharply in recent months, after Marjane Holding decided to stop selling alcoholic beverages in all of its supermarkets in Morocco and due to an increase in government taxes on alcoholic beverages. According to the weekly La Vie Economic and quoted by Alyoum24, the legal sale of alcohol decreased by 18% from 2013 to 2014. Sales volume dropp ...

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Morocco to Participate in Russia’s World Food Forum

Taroudant, Morocco- Morocco will participate in the 23rd International Food & Drinks Exhibition, the leading international exhibition for food products in Russia, to be held from September 15 to 18, 2014 in Moscow. As part of the implementation of the "Green Morocco Plan", the Kingdom will participate in the exhibition for the first time, through self-control establishment and coordination of exports (E ...

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Russian Embargo on Western Food, Opportunity for Moroccan Exporters

Rabat - Russia's embargo on some western food represents a huge opportunity for Moroccan exporters, said Vyacheslav Khrulev, the Head of the Russian Economic Mission to Morocco.  "Morocco should take advantage of this embargo to increase its exports and provide processed foods," Khrulev said in an interview with the French-speaking weekly "Challenge," noting that Russia has received high demand from Morocca ...

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Tangier Med 1 Port gains 18 spots in global ranking, Containers Management

Rabat - The Tangier Med 1 Port gained 18 spots in the global ranking, jumping from the 55th to the 72nd place a year before, according to 2013 world's ranking by British magazine Containers Management. The port posted, after only 6 years of activity, an increase of 40% in the processed volume, followed by India's Mundra port with 28%, said a statement by the Tangier Med port Authority on Thursday. Concernin ...

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