(ANSAmed) – RABAT, NOVEMBER 27 – Huge delays in payments to European companies are one of the biggest obstacles to EU investment in Morocco and the government must do something to stop it, Vice President of the European Commission, Antonio Tajani said.
Tajani was accompanied on visit to Morocco by a delegation of representatives from around 40 European businesses all of whom reiterated the uphill struggle in obtaining payments from the public sector.
One representative from Philips said that the company waits on average two years for payment.
“We must overcome the question of sluggish payments”, Tajani told ministers, including the Minister of the Economy, Transport and Energy. Complicated bureaucratic procedures are another hurdle for European companies in Morocco, in particular when it comes to taking profits out of the country.
For this reason too Tajani signed a series of letters Monday aimed at facilitating European business investment in the region, in particular PMIs.
Tajani also signed accords aimed at strengthening cooperation between the EU and Morocco with regards raw materials, satellite services and tourism.(ANSAmed).