Canada Grants Morocco Over $ 600 million in Support of Canadian Investments in the Country
By Mohamed Hikal
Morocco News Tribune
Taroudant, Morocco | The Canadian agency ‘Exports and Development’ granted Morocco a considerable sum of money to the tune of 500 million Euros in order to support investments and Canadian exports to Morocco.
The treaty signed jointly by the Canadian ‘Exports and Development’ and the Moroccan Economy and Finance Ministry, aims at solidifying financial cooperation between the two countries through enabling Canadian enterprises to finance their investments in Morocco and facilitating access to Canadian products and services in Morocco.
According to Nizar Baraka, Finance Minister, who was talking to the press, the treaty aimed at setting the framework appropriate for cooperation between Canadian enterprises and investors willing to have access the Moroccan market.
This step will enable Canada to have a proper investment and trade zone and a window on Africa as a whole.
As for Morocco, Baraka said that his ministry will help Canadians become familiar with the Moroccan economy and present all possibilities and opportunities offered by the kingdom.
The minister pinpointed also at the importance of the giant ‘Bombardier’ as a worthwhile Canadian investment in Morocco.
It is worth mentioning that exchanges between Morocco and Canada attained 522.6 million Dollars in 2012 when it was only 418.9 million Dollars in 2011 with a 25 per cent increase.
Besides, Moroccan imports reached 368.5 million Dollars in 2012 whereas exports were at about 154.2 million Dollars.