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Germany to support Morocco's reforms, German official says

24/02/2011 23:00:00 redaction
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Rabat - Germany will support the model of reforms in Morocco, said visiting German Secretary of State for Economics and Technology

Rabat - Germany will support the model of reforms in Morocco, said visiting German Secretary of State for Economics and Technology Ministry Bernd Pfaffenbach

    "Morocco is not in a zone of turbulence, since the Kingdom has undertaken a long time ago a number of reforms that have paid off," Pfaffenbach said, on Tuesday in Rabat, at a Joint press conference with Moroccan Industry, Trade and New Technologies Minister Ahmed Reda Chami, following the signing of a joint declaration to set up a Joint Economic Commission.

    "We believe that Morocco is a model of development among the region's countries," he noted, adding that this is why Germany has decided to develop cooperation with the Kingdom.

    Pfaffenbach also said that Morocco's major infrastructure projects, high tech and renewable energy sectors are favored by German investors.

    After stressing the importance of boosting economic relations, the German official said that the Moroccan-German trade and investment volume are below the existing potential.

    Morocco is a “privileged partner” for both Germany and the European Union, he added.

    On his part, Chami said the establishment of the Joint Economic Commission will allow Morocco and Germany to enhance their trade, calling on private investors to seize the opportunities offered by the two countries.

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Source: MAP

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