Morocco believes in the potential for increased trade in Africa


Morocco believes in the potential for increased trade on the African continent and co-development in various sectors, said Monday evening in Marrakech, the Minister of Economy and Finance, Mohamed Benchaaboun.

"We have already carried out major operations with several African countries in the areas of services, including financial services (banking and insurance) as well as telecommunications and public works," Benchaaboun told a news conference. , held at the end of the first day of the ministerial sessions of the 52nd Conference of African Ministers of Finance, Planning and Economic Development (COM2019) of the Economic Commission for Africa (ECA).

In that regard, he noted that the creation of the African Continental Free Trade Area (CAFTA) "will provide us with an opportunity to accelerate what has been done with each country and will open a whole continent for all-round exchanges and co-development, which will bring growth to a higher level for the countries concerned. "

Mr. Benchaaboun also said that COM2019 is an opportunity to examine and highlight all the opportunities offered by digitization, the use of new technologies to promote the African economy.

ECA Executive Secretary Vera Songwea said that the first day of the ministerial sessions had begun with discussions on the Sustainable Development Goals (ODS) for 2030 and the Agenda for Action of 2063. African Union.

She said the completion of the ODS 2030 requires $ 680 billion in funding, indicating that the debate showed that improving taxation by expanding the base could generate up to $ 480 billion.

After noting that financial inclusion remains a challenge for many countries in the continent, Songwea emphasized the social contract with the private sector, which is willing to contribute to the ODS.

COM2019, March 20-26, under the theme "Fiscal Policy, Trade and the Private Sector in the Digital Age: A Strategy for Africa", focuses on the contributions of digital technology, both the development of economic exchanges in Africa, and the strengthening national fiscal policies and improving tax collection.


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