The challenges of Morocco's economic openness to the African continent

Abstract

Today, openness through trade and foreign direct investment (FDI) appears to be a catalyst for economic growth in emerging countries as well as in developed countries. Morocco, like other North African countries, has long chosen a liberal model of openness to African countries. This openness has been confirmed by the many free trade agreements signed with the African continent over the past decade. However, despite Morocco's efforts and progress in relations with the countries of our continent, Morocco's economic and financial relations with Africa, particularly sub-Saharan Africa, are still relatively weak compared to the potential that can be mobilized. Improving these relations is one of the important levers for developing Morocco's economic competitiveness and strengthening its position at the international level, and requires the implementation of new strategies that meet the requirements of the international environment. In order to strengthen its presence on the African continent and improve its competitiveness, a set of strategies must be put in place to live up to expectations. Among the proposals to be considered, the following elements should be mentioned: The creation of joint-ventures with foreign companies having an investment strategy in Africa, developing transport infrastructures connecting Morocco and sub-Saharan Africa, Strengthening Moroccan industrial strategy, and finally consolidate Casablanca as a financial center and as a hub for Africa. In this article, we try to highlight the main challenges that hinder Morocco's openness to Africa, as well as Morocco's strategy to strengthen its position on the continent.

Jel classification : F 21

Paper type : Theoretical research