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Doha – Morocco has formally launched its 2025-2027 Foreign Trade Roadmap, aiming to create 76,000 new jobs and generate an extra MAD 84 billion ($8.4 billion) in export revenues. The plan was unveiled in Casablanca on Wednesday throughout a ceremony chaired by Head of Authorities Aziz Akhannouch.
The brand new roadmap focuses on three strategic goals: job creation, increasing the export base by establishing 400 new export corporations yearly, and boosting export revenues.
“By this roadmap, we intention to generate extra export income of greater than 80 billion dirhams,” Akhannouch mentioned in the course of the launch ceremony. “It additionally goals to broaden the exporter base, with the objective of reaching a median of 400 new exporters per 12 months.”
The technique adopts an built-in and participatory strategy structured round 4 intervention levers and 6 cross-cutting reforms. These embrace accelerating the digitalization of international commerce and creating regional assist workplaces throughout the nation.
Akhannouch pressured that the roadmap displays King Mohammed VI’s imaginative and prescient of financial openness. “Our nation, in good concord with His Majesty’s enlightened imaginative and prescient, has made a resolute selection for financial openness, pushed by the deep conviction that integration into worldwide commerce is a basic lever for financial progress,” he said.
The federal government hopes the plan will enhance the protection charge of imports by exports by strengthening nationwide exports and directing financial insurance policies towards sustaining monetary and industrial sustainability.
Earlier this month, Akhannouch held a gathering in Rabat the place the Secretary of State for Foreign Trade, Omar Hejira, introduced the strategic plan. Throughout that assembly, the prime minister talked in regards to the significance of supporting Moroccan small and medium enterprises concerned about getting into the export sector.
Learn additionally: Morocco Eyes Main Export Increase to Egypt, Targets $500 Million by 2027
The roadmap’s growth adopted months of preparation. In January, Hejira revealed that the plan was based mostly on 524 proposals collected throughout a regional tour, with 80% coming from Morocco’s areas and 20% from the ministry.
The technique additionally contains establishing 12 regional workplaces devoted to international commerce growth throughout Morocco. Moreover, a chatbot for international commerce can be launched to facilitate interplay between stakeholders and the ministry.
At present, 92% of Moroccan exports are concentrated in six key sectors: automotive (34.4%), agriculture and meals industries (19.3%), phosphates and derivatives (17.8%), leather-based merchandise (10.7%), aviation (5.3%), and electronics (4.3%).
The roadmap additionally goals to deal with Morocco’s commerce imbalances. In 2023, Moroccan exports reached MAD 430 billion ($43 billion), in comparison with MAD 716 billion ($71.6 billion) in imports, leading to a commerce deficit of MAD 286 billion ($28.6 billion).
A ministerial research up to date in 2023 recognized MAD 120 billion ($12 billion) in untapped export alternatives, with 10% associated to African markets.
To spice up African commerce, a brand new complementary public export insurance coverage scheme can be launched in early June, initially protecting industrial and political dangers for patrons from 15 strategic African nations.
The implementation of the roadmap can even embrace strengthening exports from the handicraft and social and solidarity economic system sectors, in addition to creating regional international commerce assist workplaces throughout all areas of the dominion.