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Maghrebian Prospects in Africa : Morocco

Maghrebian Prospects in Africa : Morocco. By Petra Patty. Outline. Introduction Politics : Foreign policy of Morocco towards Sub-saharan Africa Economics : Agreements regulating relations Figures of trade Investments : Banking Infrastructure Conclusions.

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Maghrebian Prospects in Africa : Morocco

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  1. MaghrebianProspectsinAfrica:Morocco By Petra Patty

  2. Outline • Introduction • Politics: • Foreign policy of MoroccotowardsSub-saharanAfrica • Economics: • Agreementsregulating relations • Figures of trade • Investments: • Banking • Infrastructure • Conclusions

  3. Foreign policy of Morocco towards Sub-saharan Africa • Twotypes of relations: • 1. Traditionallyfriendly: Senegal, Gabon, DR Congo, GuineeEquatorial, Mauritania, IvoryCoast • 2. Ones made tense, mainlyforpoliticalreasonstodowiththe Western Saharanconflict: Nigeria, South Africa, etc. • 1980’s: • 1984, Moroccoleavesthe Organization of AfricanUnity • Developing relations with Angola (1985), Cape Verde (1987) • 1986: Creation of AgenceMarocaine de CoopérationInternationale - AMCI

  4. Foreign policy of Morocco towards Sub-saharan Africa • 1990’s: • 150 different agreements by the middle of the decade • Other efforts: Somalia 1992-93, visits: 1996, etc • From 1999, King Mohammed VI. • Repeated annual visits from 2001, including Gabon, Republic of Congo, Democratic Republic of Congo, Gambia • 25 embassies in Africa, 6 new representations by the end of 2010

  5. Foreign policy of Morocco towards Sub-saharan Africa • New direction of socialcooperation: • 2006: Niger foodcrisis • Hospitalization, stock of drugs, pesticides, etc. • 2004, visitsto Bénin, Cameroon, Gabon, Niger and Senegalsigningconventions • 180-268 millionsEuros of supporttoWest-African and CentralAfricancountries • Threesidedcooperations – NEPAD (New PartnershipforAfrica’sDvelopment) • Strategytowardleastdevelopingcountries: • 2000, European African Summit, Cairo • 2003, ExtraordinaryMinisterialConferenceforLeastDevelopedCountriesin Rabat • Intensions of workingtogetherwithorganizations: • 2000, UEMOA (West African Economic and Monetary Union) • 2001, joining COMESA (Common Market for Eastern and Southern Africa) • 2002, ManoRiver Union Meeting in Rabat

  6. Agreements regulating relations • 2002, UEMOA (West AfricanEconomic and Monetary Union): • Trade and investmentonindustrial and agriculturalproducts • Nottakenaffectyet • 2004, visitsto Bénin, Cameroon, Gabon, Niger and Senegal: • Conventionsonnon-doubletaxation, encouragement of investment, projects: expertise and funds • Sea trade, mining, civil engineering, housing, water and education

  7. Agreements regulating relations • Strengthening relations, diversifying markets: bilateral economic and trade cooperations, classic or preferential, 17 countries • Mixed inter-state commissions • Private sector: • Official support • International forums • Studies on trade prospects • Organization for the support of export

  8. Current figures of trade • Global sum of trade: • 1990-1998: 300,6 milliondollarsonaverage per year • 1998-2008: 529 milliondollars • Commercial trade: • 101 milliondollars deficit onaverage per yearfortheperiod of 1990-98 • 2008: 282,8 milliondollarexcess

  9. Currentfigures of trade • 2008, Moroccan export: • 4,46% toAfrica (Main markets: Senegal, Equatorial Guinea and IvoryCoast, Congo, Nigeria, Ghana, Angola) • 75,23% to EU • 6,9% toAsia • 2,72% to USA • Export byzones: • 27,2% to UEMOA • 19,31% to CEMAC – Economic and Monetary Union of CentralAfrica • 2% to SACU – Southern AfricanCustoms Union, • 170% increase of trade betweenMorocco and Sub-saharanAfrica: • 1998: 52,6 milliondollars • 2008: 1,4 billiondollars • Versus Tunisia: 107 milliondollars and Egypt: 320 milliondollars

  10. Current figures of trade • Main Sub-saharian suppliers of Morocco: Gabon, Congo, Central African Republic, Ivory Coast, Nigeria, Burkina Faso, Sénégal, South Africa • Import by zones: • 59,82% from SACU • 17,5% from CEMAC • 11,63% from UEMOA

  11. Composition of export, 1998-2008: Source : Chelem, calcul DEPF

  12. Composition of import, 1998-2008 Source : Chelem, calcul DEPF

  13. Current figures of trade • Relations with countries who recognize the RASD (Sahrawi Arab Democratic Republic – or Western Sahara): • Rebuilding relations for the past 10 years • Moroccan economy more international • Retreat of recognition • South Africa: 210 million Euros in 2008 • Nigeria: 60 million Euros in 2008 • (720 million with Algeria)

  14. Investments • 2008: amongst the top 20 investors in Africa • Private sector: • Taking expertise and know-how to the continent • Strategic sectors: • Banking • Engineering • Telecommunication • Infrastructure (Royal Air Maroc)

  15. Banking: Attijariwafa Bank and BMCE • Firsttwomoroccangroupsoninternationalmarkets. • Attijariwafa Bank: • PresentinTunisia, Senegal (66,67% of Senegalo-tunisian Bank), Mali (51% of International Bank of Mali – 60 millionEuros) • GNP of thebank’ssubsidiariesin Western Africa: 1,47 billion DH, CentralAfrica: 539 million DH • 2009: took over 5 subsidiaries of Credit agricole: Congo, IvoryCoast, Cameroon, Gabon, Senegal, othersinplan: Burkina, Togo, Niger, Equatorial Guinea • 2010 April 29-30th, Casablanca • BMCE – BanqueMarocaine du CommerceExterieur: • Presentinabout 12 Africancountries • SubsidiaryinSenegal (BMCE Capital Dakar) loans 50 millionEurostothe port of Dakar. • 2007: acquisition of upto 35% of capitalofthe Bank of Africa (BOA) • 2008: received 70 million euro supportfromthe IFC (International FinanceCooperation) • International subsidiaries: 8,5% of net turnoverin 2008 – 74 millioneuros • Outside BOA, operatesinCongo-Brazzaville, Cameroon, Senegal and Tunisia

  16. Infrastructure: SOMAGEC, Groupe CCGT • SOMAGEC (SociétéMaghrébine de Génie Civil ): • Leadingbuilder of harbour and maritimeinfrastructureinMorocco, making a turnover of about 138 millionEurosin 2008. • Equatorial Guinea: • Subsidiary SOMAGEC GE • 2 500 employees • Builtportsin Malabo, Kogo and Annobón • Drinkingwaternetworkin Bata • Inthreeyears: 1,3 billionEuros • 2006: invitationtoapplyfor building the port of Dakar inSenegal • Groupe CCGT (Consortium des CanalisationdesGranulats et des Travaux): • Presentin Guinea for 12 years, Sierra-Leone aswellas Guinea-Bissau • Guinea: 70 million DH, agriculturalarea of 724 ha • Senegal: construction of a 230 km road

  17. Conclusion • Africa: alternative market to the european • Despite marked improvements in the past decade, only 5% of Morocco’s export goes to Africa • Still alot of potential: • Improved political stability • Economic transparency • Rise of purchasing power • Exemplary behaviour

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