Financial Times Praised Morocco For Its “Private Arab Spring”
By Mourad Anouar
Morocco News Tribune
Oklahoma City, U.S.A|
Financial Times newspaper lauded Moroccan experience that has chosen to continue its program of reforms peacefully, away from violence, political unrest, killings that have plagued a number of Arab countries.
The paper said that Morocco, Under King Mohammed VI, made big steps ahead to ensure wider representation of women in elected institutions that surpass all other Arab countries, pointing out that the Kingdom has since 2011 seen strong momentum in terms of democratic reforms with the adoption of comprehensive constitutional amendments.
FT said that observers believe that Morocco chose its own private “Arab Spring”, away from the bloody violence of some other Arab regimes, praising Morocco’s king for giving up a large part of his powers in favor of the government and the parliament, in an effort to establish a parliamentary monarchy as it is in some European countries.
FT confirmed that Morocco is a model quite different from its neighbors, noting that Morocco offered sovereign bonds in the international market, which made it possible to get subscriptions worth $ 8 billion.
This move, according to the newspaper, reflected great confidence in the future of the kingdom in the long run.
FT stated that the West is appreciative of the Moroccan democratic experience that brought Islamists to power after winning by more than a quarter of seats in the Moroccan parliament (107 seats) in the 2011 elections.
The paper said that Europe generally (and especially British) consider Morocco as an emerging democratic country, in which the Royal Institution plays a major role within the Moroccan society.
And it talked about the great admiration and enthusiasm shown by foreign investors toward Morocco; the paper highlighted in the same context, the challenges faced by the Kingdom because of the international economic situation characterized by particular financial difficulties facing many European countries.
Also, the paper pointed out that Morocco and the European Union recently announced the launch of negotiations aimed at reaching a “comprehensive free trade agreement”
Financial Times concluded that despite some economic difficulties, Morocco is still a model to follow, especially in the Gulf region as countries began a process of gradual and smooth change unlike neighboring Arab countries that suffer from both political and economic instability.
“To the Moroccan, things are good but could be better. Business is decent, he says, better than last year; he’s more worried about Europe’s economy than insurrection in neighboring Algeria and Mali,” FT said.