Morocco Demonstrates Economic Resilience and Sovereignty at Choiseul Africa Business Forum

Casablanca, Morocco – At the recent Choiseul Africa Business Forum in Casablanca, Morocco showcased its strides towards achieving economic sovereignty, particularly in energy independence and agricultural modernization. The forum, held on November 16, was a testament to Morocco’s role as a bridge between Africa and Europe and its growing influence in the economic landscape.

According to Africa News Agency, President of the Choiseul Institute, Morocco’s strategic geographical location and its status as an exemplary model of “economic sovereignty” made it an ideal host for the event. The forum gathered around 800 participants from 60 countries to discuss enhancing economic independence in critical sectors such as energy, food, health, industry, and digital technology.

Morocco’s Minister of Economy and Finance, Nadia Fettah Alaoui, emphasized the country’s long-term efforts to build a modern, diversified economy, citing King Mohammed VI’s vision and reforms as catalysts. The focus has been on modernizing the agricultural sector and agri-food industry to strengthen food sovereignty and increase export capacity. In energy, Morocco, identified by the Ember Climate’s Global Electricity Review 2023 as Africa’s second-largest producer of wind and solar energy, is making strides towards reducing energy dependency. The country is also positioned as a potential major player in the global green hydrogen market.

Another highlight of Morocco’s economic journey is its handling of the COVID-19 pandemic, during which it provided masks to several European countries and allocated a substantial budget for domestic and export mask production.

Intra-African cooperation is a crucial aspect of Morocco’s strategy for economic independence. Pascal Lorot emphasized the untapped economic potential of Africa and the need for sustainable, inclusive growth and real economic sovereignty on the continent. Morocco, as the leading African investor in West Africa and the second largest continent-wide, has significantly increased its trade with Africa, particularly with countries like Egypt, South Africa, Djibouti, Tunisia, and Côte d’Ivoire.

However, challenges remain, including dependence on world markets and structural vulnerabilities in many sectors. Solutions lie in involving the private sector and fostering bilateral and multilateral partnerships, as highlighted by both Lorot and Minister Alaoui.

Beyond economic metrics, the Moroccan mindset, characterized by a sense of pride and ambition, was also praised by attendees. This attitude, coupled with Morocco’s historic achievement in reaching the FIFA World Cup semi-finals and its bid to co-host the 2030 World Cup with Spain and Portugal, underscores the country’s growing confidence and influence on the African continent and beyond.

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