Monday 20 November 2023

Economic Sovereignty: Morocco’s Economy Minister Calls for ‘Comprehensive & Common African Response’

Economic Sovereignty: Morocco’s Economy Minister Calls for ‘Comprehensive & Common African Response’

Minister of Economy and Finance, Nadia Fettah, called, here Friday, for a "comprehensive and common African response" to meet economic sovereignty challenges.

In a speech read on her behalf by Minister of Energy Transition and Sustainable Development, Leila Benali, at the opening of the Choiseul Africa Business Forum, Fettah underlined that the context of successive crises "confirms our conviction that only a global and common African response would enable African countries to meet economic sovereignty challenges".

In his regard, the minister called for the optimal exploitation of resources, means and comparative advantages of each country or region and their pooling within a global, coordinated and integrated approach, as well as the deepening of regional and sectoral value chains to achieve complementarity.

She also called for lifting constraints on foreign investment and promoting trade openness in the continent, mainly through the acceleration of the entry into force of the African Continental Free Trade Area (AfCFTA).

To achieve the "common, legitimate and realistic" ambition of African economic sovereignty, Fettah also proposes the continued development of infrastructure and connectivity, as well as the coordination of actions with a view to establishing policies and incentives that would promote the emergence of regional champions and the development of public-private partnerships.

Fettah also underlined the strategic importance that Morocco attaches to South-South cooperation and the development of economic relations with African countries, noting that the Kingdom is committed to strengthening relations with African countries within a win-win approach.

Placed under the High Patronage of HM King Mohammed VI, this prestigious forum is organized for the second consecutive year in Casablanca by the Choiseul Africa Institute, in partnership with the Casablanca-Settat Region and the General Confederation of Morocco's Enterprises (CGEM).

MAP:17 November 2023