Marrakech - The Maghreb countries should strengthen the role of the banking sector to achieve an overall Maghreb economic integration, said, Monday in Marrakech, Governor of Bank Al-Maghrib, Abdellatif Jouahri.
Marrakech – The Maghreb countries should strengthen the role of the banking sector to achieve an overall Maghreb economic integration, said, Monday in Marrakech, Governor of Bank Al-Maghrib, Abdellatif Jouahri.
Speaking at the opening session of the third edition of the Maghreb Business Forum, Jouahri said the banking sector is considered a driving force for economic growth, noting the need to establish the basis of a strong financial partnership among the Maghreb countries.
He recalled that the Maghreb region achieved a gross domestic product (GDP) of $ 430 billion in 2012, while that of Turkey stood at 791 billion dollars, adding that this level of growth does not help absorb the level of unemployment in the region.
For his part, head of the Maghreb desk at the World Bank, Simon Gray said the Maghreb economic integration should now be at the heart of the priorities of these countries, because of the loss to these economies due to the absence of the Maghreb integration.
He called on the Maghreb countries to strengthen their macroeconomic management, reduce trade barriers, facilitate logistics, and implement free trade agreements signed by these states to develop inter-Maghreb trade.
He also reiterated the readiness of the World Bank to support the Maghreb Trade and Investment initiative, which aims to establish a roadmap prepared by the private sector, to develop the intra-Maghreb exchanges.
On the sidelines of the forum, a Memorandum of Understanding was signed between President of the Maghreb Union of Employers (UME), Meriem Bensalah Chaqroun, and President of the Union of Maghreb Banks, Habib Ben Saad, which aims to facilitate access of businessmen to funding, and promote investment and job creation in the region.