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The Japan Times
WORLD EYE REPORTS
MOROCCO |
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©THE JAPAN TIMES
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Sunday, March 16, 2003
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Thriving in the global 'souk'
The Kingdom of Morocco is located on the northwestern tip of the African continent, sitting astride the Straits of Gibraltar and less than 20 kilometers from the Spanish coastal town of Tarifa at its closest point. This location at the gateway to the Mediterranean has blessed Morocco with a mix of culture and history similar to that of Andalusian Spain, and quite distinct from its neighboring countries.
Now, this former French and Spanish colony is on the verge of breaking away from the economic problems of much of Africa and approximating its richer Mediterranean neighbors in Europe. Belying its fantasy Hollywood image of lazy souks (markets) and intrigue, modern Morocco is finding its products can truly compete on a global scale.
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Keep up with current events in Morocco through the website of Morocco's largest daily newspaper. www.lematin.ma
Morocco's tourism agency proposes photos, cultural and historical information, as well as up-to-date contact details for anyone interested in discovering the amazing beauty of the Kingdom (in French). www.tourisme-marocain.com
The Web site of the Direction des Investisse-ments Extérieurs (DIE), in charge of promoting Morocco as an investment destination, offers a wealth of information of interest to the potential investor (available in English). www.invest-in-morocco.gov.ma
eBox
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 One of the many entrances to the 'souks' (markets) in the city of Marrakech, off the magnificent plaza of Djemaa El Fna. |
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Since it achieved independence in 1956 the country has made significant progress towards the development of its markets and industry. This movement has proceeded in fits and starts, but in the past decade the increased pace of reforms has led to an export oriented policy that has resulted in the privatization of large areas of the economy and the creation of special trade areas like the Tangier Free Trade Zone, which offer tax free operations and exports to Europe and beyond. FULL STORY
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Moroccos's international bank
Morocco's banks have been at the forefront of the country's modernization drive, and among the quickest to take advantage of the new possibilities offered by the liberalization of the economy. Besides the large local banking groups, however, Arab Bank - the largest privately owned and most geographically widespread Arab institution in the world - has gone from strength to strength in Morocco with its own brand of international banking. FULL STORY
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 Malik Annabi, regional director of Arab Bank in Morocco, stands beside a portrait of Abdul Hameed Shoman, who founded the bank in Jerusalem in 1930 |
 Radouane El Khayate, director general of Maripeche
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Rousing comeback for the Moroccan fishing industry
One of the kingdom's largest fishing companies is building on past successes to carry out ambitious new plans for expansion in the Japanese market.
Morocco's waters have for years produced some of the world's most sought after and plentiful harvests of all kinds of fish products. Long ago, Japan discovered the exquisite taste of the squid, octopus and cuttlefish caught in Moroccan waters. In fact, current relations between the two countries have been further strengthened by the extensive trade in products of the sea. FULL STORY
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The untold beauty of the unknown
Casablanca. The name instantly conjures up images of intrigue and mystery, of Bogie and Bergman. Even the geography of Morocco lends itself to this imagery. Nested between the Arab and European world, it is a place where the Andalusian model of cultural co-existence continues to thrive; creating a culture that is neither here nor there, neither European nor Arab. FULL STORY
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 The exterior of the Crowne Plaza Casablanca |
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Morocco
Official Name: Kingdom of Morocco
Capital : Rabat
Area: 710 850 sq. km
Population: 29.7 million
Currency: Dirham (DH)
Average exchange rate: $1=DH11.46
Total GDP: $36.1 billion
GDP growth rate: 3.5 percent
GDP per capita: $1,215
Inflation rate: 4.1 percent
Unemployment: 17.5 percent
Total exports: $7.6 billion
Total imports: $12.2 billion
Main import markets: France (24.7%), Spain (11.1%), Gulf States (8.8%), Germany (5.8%)
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Top five imports (% of total): Textile material and thread (11%), Crude oil (9.5%), Cereals (5.9%), Telecommunication equipment (5.3%), Electronic components (3.4%)
Top five exports (% of total): Textiles (28.8%), Base chemicals (9.2%), Meat and Fish products (7.4%), Electronic components (6.9%), Refined oil products (3.9%)
Main export markets: France (27.5%), Spain (10.3%), UK (7.6%), India (6.7%)
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Sources: EIU, CHELEM, FERI, WORLD BANK
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