European Commission Executive Vice President to Visit Morocco

Rabat – The executive vice-president of the European Commission, Valdis Dombrovskis, will start a three-day working visit to Morocco on Tuesday.

Dombrovskis will attend the 31st annual meeting of the European Bank for Reconstruction and Development (EBRD) which will be held in Marrakech, and will hold discussions with Moroccan officials to consolidate trade relations with the EU.

The vice president will participate in talks with the Moroccan Employers’ Association (CGEM) and Business Europe, as well as other Moroccan organizations to determine avenues for more cooperation.

The European Commission said the visit will serve as a chance to renew EU commitments, particularly as the region goes through the humanitarian and economic impact of the Russia-Ukraine war.

The EU had recently announced more than $236 million (MAD 2.3 billion) in a package to help partners in the global south to cope with the impact of rising prices worldwide.

Set to take place between May 10 and May 12, this year’s EBRD meeting will be the first one held in Africa. As well as focusing on ways to support Ukraine, the meeting will discuss how to cope with the economic impact of the war on Europe and other regions.

As a founding member and a shareholder in the EBRD, Morocco will participate in the meeting with the Bank’s 73 other shareholders.

The Bank also recently signed a Memorandum of Understanding with Bank Al-Maghrib, Morocco’s central bank, to promote “green financing” and support climate risk management in the country.

The European Union’s Ambassador to Morocco recently expressed the EU’s desire to improve collaborative efforts with the North African kingdom across all sectors, pledging to help Morocco with its various reforms in numerous fields.