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Encouraging investment: Interview with Supachai Panitchpakdi |
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Wednesday, 16 July 2008 |
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OBG talks to Supachai Panitchpakdi, Secretary-General, UNCTAD, former Director-General, the WTO What is UNCTAD’s role in helping Morocco achieve its ambitions in foreign policy and in further integrating into the globalisation process?
SUPACHAI: In 1995, having hosting the concluding meeting of the Uruguay Round, Morocco became a founding member of the WTO. Morocco’s average most favoured nation applied tariff is currently 24%, compared to 64% in 1994. Morocco has also bound its tariff lines for industrial and agricultural goods to WTO standards. When all existing preferential agreements are taken into consideration, the total effectively applied tariff averages 15.5%.
A decade after joining the WTO, Morocco’s exports have more than doubled. Morocco’s imports have also increased by similar proportions, from $8.5bn in 1995 to $20.3bn in 2005. Industrial products represent 88% of the value of all exports. The EU remains the main market, receiving 75% of Morocco exports. Although Morocco’s export structure appears advanced, UNCTAD’s 2005 trade and development index suggests that the country needs to better integrate its trade policies and institutions with its development goals. Overall performance in 2005 lagged behind that of many other developing countries.
- Morocco has recently implemented free trade agreements with the US, Egypt, Jordan and Turkey. What impact have these agreements had so far?
- What has to be done the lessen Morocco's dependence on expensive foreign oil and to promote the use of natural gas instead?
- The public sector has been gradually downsized to promote efficiency in government. How coherent is this strategy?
- Morocco is already the fourth-largest destination in Africa for investors. Why is the current investment promotion agency considered inadequate?
- What further reforms do you see as desirable?
- What progress have you seen in addressing ongoing issues of intellectual property infringement, and what remains to be done?
- Given the diversity of the economies in the Maghreb, what are the differences between your roles in Morocco and, for example, Algeria?
This content was published with the authorisation of the Oxford Business Group. For the complete interview please visit the Oxford Business Group
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