Morocco’s agricultural production this year plummeted 70 percent due to drought, local media reported on Friday.
Harvest so far this year stood at 33 million quintals (3.3 billion kg), down from 115 million quintals (11.5 billion kg) posted for the same period of last year, a news portal, medias24, said, quoting a Ministry of Economy and Finance statement.
Access under the PLL arrangement in the first year will be equivalent to US$1.73 billion, or 140 percent of quota.
Moroccan authorities have stated that they intend to treat the arrangement as precautionary.
The new PLL provides Morocco with useful insurance against external shocks as authorities pursue reform agenda aimed at higher and more inclusive growth which are elevated. (more…)
By Ediri Ejoh
Former President of Nigeria, Olusegun Obasanjo, has called for an improved business relationship between Nigeria and Morocco, saying such will create mutual benefits for both countries and advancement of Africa’s economy. This was even as he described the recent decision of Morocco to return to Africa Union, AU, as a welcome development.
He noted that King Mohammed’s decision to return Morocco to the union it helped in founding made him Africa’s Man of the Decade. Speaking at the business forum organised by the Economic (more…)
By Aziz El Yaakoubi
Morocco’s annual consumer price inflation rose to 2.3 percent in June from 1.9 percent in May, due to higher food prices, the High Planning Authority said on Friday.
Annual food inflation jumped to 4.4 percent from 3.6 percent in the previous month as June coincided with the holy fasting month of Ramadan. Non-food price (more…)
(The following statement was released by the rating agency) PARIS, July 22 (Fitch)
Fitch Ratings has downgraded Morocco’s Long-Term Local Currency (LTLC) IDR to ‘BBB-‘ from ‘BBB’. The Outlook is Stable. The issue ratings on Morocco’s long-term senior unsecured local currency bonds have also been downgraded to ‘BBB-‘ from ‘BBB’. (more…)
In a statement following a cabinet meeting, Moroccan government said while the kingdom was among the first nations to denounce the attempted coup, it is very concerned about the large scale arrests of teachers and judges in Turkey. (more…)
The document, signed by Moroccan Minister of Endowments and Islamic Affairs Ahmed Taoufiq and his Somali counterpart, Abdelkader Cheikh Ali Ibrahim, aims to strengthen bilateral exchange of experiences in religious affairs.
This agreement is meant to protect the Muslim Ummah (community) against any deviation or act distorting the religious precepts with the aim to spread discord, the Moroccan minister told the press during the signing ceremony. (more…)
by Ulrika Lomas
The customs authorities of the Netherlands and Morocco have signed an agreement setting out a framework for closer cooperation between the two organizations.
The bilateral convention on mutual assistance on customs matters was signed in Brussels on July 14 by Peter Hasekamp, the Dutch Director General for Taxation, and Zouhair Chorfi, Director General at the Moroccan indirect tax administration. (more…)
Asharq Al Awsat
Algeria-Foreign Minister Abdul Aziz Balkhadim broke his two-year silence, since leaving the National Liberation Front (FLN), to urge the party’s supporters to rescue it “from division, disunion and discord.”
The recent development follows a debate in Algeria on the succession of President Abdelaziz Bouteflika.
His supporters shared the FM’s message on the social network websites and said: “Anyone who sees the current condition of the Front would feel sorrowful.” (more…)
French car parts supplier Valeo plans to invest 50 million euros in a new industrial centre in the port of Tangier in Morocco.
Production, which will take place inside the Tanger-Med Automotive City, will in part supply Peugeot-Citroen in Kenitra and Renault TangerMed, and the other part will be exported towards Europe and the United States. (more…)
Deadline Approaches on August 1, 2016
Submissions of views from governments and non-state stakeholders on the French and Moroccan climate champions’ vision to boost climate action are welcome and can be submitted up until August 1, 2016. All documents, including a description on how to submit inputs, can be found here.
The action agenda is an important support and catalyst to the early and effective implementation of the landmark Paris Climate Change Agreement. (more…)
e turbo news
Climate change has become a world concern affecting the tourism sector, just like other sectors, such as the economy.
Casablanca welcomed on Monday, July 11, 2016, the fourth Conference of the 5+5 Dialogue of Tourism Ministers on the Western Mediterranean. (more…)
Khalid Ibrahim Khaled
Morocco made a big move in Kigali. In deciding to return to the African Union, Rabat has maybe activated a process that could undo all what Algeria has fabricated to support the Polisario and its pseudo-republic within the AU.
King Mohammed VI got straight to the point in the message he addressed to the AU Summit, opened on July 17 in the Rwandan capital. If Morocco walked out and withdrew from the OAU over three decades ago, it was because the recognition of a pseudo state of the Polisario was too hard for the Moroccan people to accept. (more…)
By Aziz El Yaakoubi
Morocco has asked the African Union (AU) to readmit it to an organisation it left 32 years ago, as it steps up efforts to win support from member states for a plan offering conditional autonomy to the disputed territory of Western Sahara.
Morocco abandoned its seat in 1984 when the AU recognised the breakaway Western Sahara republic lobbied for by the Polisario Front independence movement. (more…)
The Associated Press
Morocco has formally written to the African Union requesting to rejoin the continent-wide organization more than three decades after it left in protest over Western Sahara.
The request was included in a written speech signed by King Mohammed VI of Morocco and addressed to AU members.
Morocco withdrew from the Organization of African Unity, the African Union’s precursor, in (more…)