Morocco is a north Africa country with a population of 32 million. This country mainly produces basic manufactured goods, such as textiles. Morocco also has many resources to export, like Phosphates and Argan. Morocco imports lots of fuels and foods. They also need electric products and machinery.
Because of its unique location, Morocco is a supporter of international trade. They signed the free trade agreement with European Union in 1996, The EU-Morocco agreement even has a plan for a free-trade zone. Morocco also signed the free trade agreement with the United States in 2006. It turned out that the trade jumped to $2.3 billion from 1.4 billion in 2007.
The foreign direct investment in Morocco was 2.5 billion dollars in 2009. Although there was a decline of about 27% compared with 2008, this country was still doing fine in the global financial crisis. This country has stable economy, and relatively lots of trained people with low wages. So I believe Morocco will play a key role in Africa and southern Europe area.
No comments:
Post a Comment