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Economy


Morocco and Egypt: A 'Fast Track' to Facilitate and Accelerate Moroccan Exports

In an effort to boost Moroccan exports, Egypt is set to introduce a "Fast Track" system aimed at simplifying and accelerating trade processes. The announcement follows a meeting between key officials: Ryad Mezzour, Morocco’s Minister of Industry and Commerce; Omar Hejira, the Secretary......

Morocco joins key customs summit in Cairo to shape regional trade strategies

The 61st Meeting of Customs Directors General from North Africa, Near and Middle East convened in Cairo on Sunday, bringing together key customs authorities from across the region. The gathering, hosted by the Arab League General Secretariat in collaboration with Jordan's Customs Administration,......

Jordan’s king Abdullah and Trump discuss Gaza amid controversy

Jordan’s King Abdullah II became the first Arab leader to meet with U.S. President Donald Trump at the White House since the start of Trump's second term on January 20. However, the meeting placed Abdullah in a challenging position, given the strong historical ties between Jordan and the U.S.......

Morocco's date imports surge as drought strains local palm production

Morocco's date market is experiencing a significant shift as the country increases imports ahead of Ramadan, with Egyptian products dominating local marketplaces. This development comes as Morocco grapples with drought conditions affecting domestic palm date production. Agriculture Minister Ahmed......

Moroccan eyewear brand LNKO secures investment from Egyptian venture fund

A significant cross-border investment has emerged in North Africa's startup ecosystem as Egyptian-based Beltone Venture Capital invests in Moroccan eyewear company LNKO. The investment, while undisclosed, will fuel LNKO's expansion across Africa. LNKO, established in 2020 by Maha Bennani, has......

H&M shifts production to Morocco amid potential US trade barriers

Swedish retailer H&M is strengthening its manufacturing presence in Morocco as part of a strategic response to potential US trade restrictions, according to the company's finance chief. This move represents a significant shift toward regional supply chains, with Morocco positioned as a key production......

Moroccan diaspora's economic impact soars with $11.7 billion in remittances

Remittances from Morocco's diaspora reached MAD 117.7 billion ($11.7 billion) in 2024, marking a 2.1% increase from the previous year's MAD 115.26 billion ($11.4 billion), according to data from the Moroccan Exchange Office. The significant financial inflow maintains Morocco's position as......

Groundbreaking Morocco-UK power project seeks $29.9 billion for world's longest subsea cable

The ambitious Xlinks Morocco-UK power project, set to become the world's longest subsea cable at 4,000 kilometers, is actively seeking political backing to secure its £24 billion ($29.9 billion) investment plan. The project aims to connect Moroccan renewable energy directly to British homes,......

Morocco ranks second in Africa for renewable energy production

Morocco is making significant strides in renewable energy, emerging as a key player in Africa's sustainable energy landscape. The North African nation's ambitious goals serve as a model for other countries on the continent. A beacon of renewable energy in Africa Morocco is solidifying its position......

Tanger Med: A Rising Star in Global Port Rankings

The Tanger Med Port has achieved a significant milestone by securing third place in the 2024 Global Port Performance Index (CPPI), marking a remarkable leap from its previous fifth position. This advancement underscores Morocco's relentless efforts to enhance its port infrastructure and logistics......

Morocco's Diaspora Remittances Surge to $10.7 Billion, Strengthening Economic Ties

Morocco's expatriate community continues to make substantial contributions to the national economy, with diaspora remittances reaching MAD 108.67 billion ($10.7 billion) by November 2024, according to recent data from Morocco's Office of Foreign Exchange. This represents a 2.8% increase compared......

Morocco Tops African Nations in Economic Appeal and Stability Rankings for 2024

Morocco has secured its position as Africa's most attractive investment destination, according to the Amadeus Institute's 2024 Africa Attractiveness and Stability Indices. The North African nation achieved a commanding score of 77.45 in attractiveness and 76.04 in stability, placing it first......

 IMF and Egypt Agree on $1.2 Billion Deal to Bolster Public Finances  

The International Monetary Fund (IMF) and Egypt have reached a critical agreement to unlock $1.2 billion in funding aimed at stabilizing the country’s struggling public finances. This "staff-level agreement" is still subject to approval by the IMF's Executive Board, marking a significant......