Business, Trade and Commerce in Morocco

The main industries in Morocco are phosphate rock mining and processing, food processing, leather goods, textiles, selling of arts and crafts, construction and tourism.

Importing and Exporting

Morocco’s main trade is importing and exporting. Although there are local arts and crafts found on every corner of the street, most of the locally produced arts and crafts are being exported to neighboring countries. However the quality of the arts and crafts has worsened over the centuries and has been corrupted by modern techniques and chemical dyes. Morocco’s principal legal exports are clothing, fish (notably sardines), phosphates, fruit and vegetables. Cannabis though illegal, is also an important export.

Ferrying

There is also a lucrative business in ferrying would-be immigrants across the Straits to Spain, with money made in these ways being invested in apartments and other speculative ventures.

Oil

Morocco has an extensive infrastructure to support active oil and gas exploration and a vibrant production industry. Major seaports, roadways, airports, pipelines and refineries are near large cities endowed with the usual European and North American style amenities. The downstream oil-industry of Morocco is well developed. The country has two oil refineries with a total refining capacity of 150,000 barrels per day.

Phosphate

The strongest point of Moroccan industry is phosphate mining. Morocco houses approximately 2/3 of the world's phosphate reserves, putting it in a higher league than major competitors China, Russia, and the United States. Although it employs only 2% of the population, phosphate mining is responsible for half of the nation's income.
In a nutshell the main industries in Morocco are phosphate rock mining and processing, food processing, leather goods, textiles, selling of arts and crafts, construction, and tourism. Morocco’s main trading partners are France and Spain. Inflation stands at around four percent and unemployment at around nineteen percent.

http://www.morocco.com/business/

Morocco Business News

In a world context in full economic growth which lives under the law of the globalization of economy and international competitiveness, investment, be it national or foreign, is an essential action to face the requirements of the economic takeoff. In this context, Morocco has resolutely engaged, following the example of other emergent countries, in a policy which seeks to make foreign investment a strategic support of economic and social growth. Indeed, the authorities have strived to improve the attractiveness of the Kingdom through economic, institutional, legislative and statutory measures which are illustrated by: - The adoption of an attractive tax framework relating to investment with, particularly, the coming into force of the provisions of the charter of investment.

In addition to the adoption of a conventional system allowing important investors to sign investment conventions or contracts with the state in order to profit from particular advantages;

- An overhaul of the institutional investment environment, based on a better decentralized distribution of tasks and roles: on the one hand, Regional Investment Centers (RICs) in order to assist and support investors in the sixteen regions of the Kingdom; On the other hand, at the national level, the Committee of Investments instituted in October 1998, under the presidency of the Prime Minister.

Morocco has also carried out several structural reforms during the last years which resulted in the stability of its macro-economic framework, the consolidation of the opening of its economy to the international environment and the signature of several association and free trade agreements.

Five arguments plead for investing in Morocco:

1. - A great political and institutional stability based on a continuous process of democratization;

2. – An institutional support and attractive legal framework;

3. - A policy of structural reforms and liberalization of the economy;

4. - An educated population benefiting from a very satisfactory technical training;

5. - Geographical proximity to Europe.