Morocco’s Sovereign, His Majesty Mohammed VI has confirmed that the post-crisis world centers on implementing an approach that takes into consideration balanced relations based on similar interests that will pave the way for a universal system that has a much bigger capacity to contain diversity and of course, multiplicity of models, with due respect for every nation’s characteristics.
Is Morocco Facing any Difficulties Even After the Economic Recovery?
Okay, there is no such as a “Perfect Economy.” In an address to the WEF (World Economic Forum) on MENA (Middle East and North Africa) which opened in Marrakech, Morocco, the King in his own words said “it is now clear that the economic recovery witnessed recently has not been strong enough to help end the scourge of unemployment. Indeed, the recovery is being hampered by many difficulties that prevent us from finding comprehensive solutions which are likely to see us out of the crisis.”
Wait a Minute! What is the Major Lesson that Should be Learned Here!?
The Monarch of this country also that “the main lesson to be learned, therefore, from the developments witnessed in recent years is that the global crisis is about more than just economic, financial and social factors. It concerns the fundamentals of the global model for economic growth. The crisis actually raises the question of this model’s cultural basis, puts its good governance to the test and threatens its democratic foundations.”
What is Morocco’s Crisis Exist Strategy?
The nation’s Sovereign brought to mind that given the Middle East and North Africa region’s natural resources and energies, it can actually play a major part in putting together crisis exist strategies and donate successfully to the debate on a new universal development model that will put human dignity at the core of its concerns, emphasizing that the region has been doing quite well as regards the rate at which it is rising above the adverse effects of the global financial and economic crisis. The King added “By year’s end, our growth rate should be encouraging and prospects for the coming year are likely to be just as promising.”
What is So Great About the MENA region Anyway?
Well, according to Morocco’s Monarch, the Middle East North Africa region is “particularly rich in natural resources, especially with regard to energy production – from both mineral and renewable resources. It also has enormous human resources and is home to five per cent of the world population, most of whom are young,” he also added that, from a geopolitical angle, this region’s importance is improved by its excellent location, which can play a vital part in encouraging exchange and cooperation.
What are the Challenges is The MENA Region Facing?
Morocco’s Sovereign drew attention to the two major challenges faced by the MENA region today are:
- The capacity to support growth, speed up its pace, increase competitiveness and draw investors in order to create more employment, seal the gap between the rich and the financially challenged and place citizens at the center of the development process, whilst conserving the basic economic and financial stability.
- The ability to effectively position itself on the international economic map – presently and in the future – by turning into a powerful regional bloc that thrives on common approach when doing business with the outside world. A strong strategy that will not only be grounded in regional integration but one that will also allow for productive cooperation partnerships with Morocco’s partners from all over the world.
Filed Under: Economic News of Morocco