Economy and business
Morocco finalises details of an entrepreneurship financing programme
From 19 July to 22 July, Morocco will host the 14th US-Africa Business Summit. Marrakech will host the event, making it the first city in the north of the continent to do so. The forum is organised by the Corporate Council for Africa (CCA) and this year's theme is "Building the Future Together".
The holding of this summit represents a unique opportunity for the Kingdom. Over the years, the North African nation has developed a very favourable economic well-being that is turning the eyes of all international powers towards the region. That is why Morocco will have the honour of hosting this event, where it will showcase its full potential in the business world.
During these days, Morocco's ambition to develop this sector will be reflected. The Kingdom will show the importance of sustainable development in Africa, one of its strongest economic points in recent years. It is worth mentioning that the Maghreb country has been able to attract global companies to develop sustainable and ecological projects, making it a major world economic centre for this industry, which is already beginning to bear fruit and become internationally relevant.
Morocco's business environment is also noteworthy. Thanks to the country's laws, which allow a reduction in taxes and incentives, companies are favoured and can operate in a stable environment. International brands benefit the most from these advantages and are able to make their way throughout the continent.
But that is not all Morocco will do. The Kingdom will be tasked with strengthening Africa in the global economy, and to ensure that Africa begins to be valued. It will showcase the continent's business opportunities and the desire to be recognised at last. The region thus wants to increasingly enter the international flow of trade and global value chains.
This has become the continent's main objective in the aftermath of the COVID-19 crisis. The passing of the virus has been a determining factor for all the countries' businesses, and the aim is to give them a new impetus so that they have the opportunity to expand and become stronger again.
The forum will be attended by a high-level delegation from the US government, African ministers and policy makers from the largest US multinationals and African companies. It will be a great opportunity to further strengthen and create a joint vision for this sector between the United States and Morocco in the framework of trade partnerships.
The summit will be divided into several parts for its smooth running. During the three days, guests will be able to attend high-level dialogues, plenary sessions, roundtables and other activities on the continent's priorities. These will be divided into sectors of importance to both territories, such as food security, health, agriculture, energy transition, new technologies and infrastructure, and industrial integration.
The event is yet another glimpse of the great relationship between the United States and Morocco. The two countries are involved in all kinds of important collaborations and agreements that have proven to be decisive in the strengthening of their ties. These collaborations have mainly taken place in the economic, business, military, etc. sectors.
This relationship reached its peak in 2020. Under the presidency of former President Donald Trump, and after several months of talks and dialogue, the Abraham Accords were signed, re-establishing relations with Israel and leaving behind years of tension and conflict. In return, Morocco got the US to recognise its sovereignty over Western Sahara. This was a key moment for the Alawi country, since thanks to the US taking the step, today many more countries have joined the Moroccan cause, making it the only viable option for establishing peace over the territory.
Americas Coordinator: José Antonio Sierra
