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Morocco and the EU

Posted in Morocco property,Property News by admin Wednesday December 10, 2008

At a recent meeting in Rabat the Moroccan government announced annual funding of 190 million euros from the European Union for 2009 as part of the European Neighborhood Policy (ENP). The ENP seeks to bolster the finances and encourage economic growth in countries that border the EU.

Morocco has advanced status within the Union, which exceeds partnership but below EU membership and this means that it receives the lion’s share of funding from the ENP.

The EU rightly recognises that a healthy Morocco is crucial to economic development in the EU as it will become not only a major production area for many EU companies but also as it represents a rapidly growing market on the doorstep of Europe. Many EU firms have used their links with governments to pitch for projects (such as the TGV) and most new infrastructure projects in Morocco have some element of foreign management or backing.