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Economy

Unmasking Trade Protectionism: Mezzour's Call for Economic Sovereignty

Wednesday 22 May 2024 - 16:15

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In a thought-provoking address at a conference organized by Bank Al-Maghrib in Dakhla, Ryad Mezzour, Minister of Industry and Trade, delivered a scathing critique of the protectionist practices employed by certain Western nations. These countries, while championing free competition and economic integration, paradoxically impose restrictive measures when it suits their interests.

Mezzour's remarks were underscored by the recent refusal of Italian authorities to permit the entry of Fiat Topolino cars manufactured in Morocco. This incident laid bare the double standards at play, as European nations swiftly alter the rules of engagement once developing countries begin exporting their products to the continent.

"European countries were the first to promote economic integration and market openness. However, when developing nations start exporting their products to Europe, they change the rules of the game," Mezzour asserted.

For the minister, this situation underscores an inescapable reality: economic powerhouses dictate the rules. He emphasized the imperative for developing countries to rely on their own resources and strengthen collaboration, particularly within the African continent.

In this context, Mezzour highlighted the significance of the royal project aimed at reinforcing integration between African nations and the Atlantic region. He also mentioned the Morocco-Nigeria gas pipeline project, which not only aims to supply gas to Europe but, more crucially, seeks to provide energy infrastructure to 13 African countries, bolstering their food security through the utilization of Moroccan phosphate fertilizers.

Furthermore, Mezzour underscored the strategic role of the Dakhla port project, which is set to enhance African integration and create new opportunities for development.

"The world is not just, and developing countries must rely on themselves and work hard to demonstrate their strength," he concluded.

Mezzour's candid assessment of the prevailing trade dynamics sheds light on the challenges faced by emerging economies. His clarion call for economic sovereignty resonates deeply, advocating for a paradigm shift that empowers nations to forge their own destiny, free from the shackles of protectionism and unfair trade practices.

By highlighting Morocco's strategic initiatives, such as the gas pipeline project and the Dakhla port development, Mezzour offers a glimpse into the kingdom's ambitions to foster regional cooperation and leverage its resources to bolster resilience and self-sufficiency. His words serve as a rallying cry for developing nations to collectively chart a course towards equitable economic integration and sustainable growth, undeterred by the shifting sands of global trade dynamics.