High rate of unemployment, low agricultural output and severe draught conditions have marred Moroccos image as a developing economy. To address these key issues and ensure overall development, the Moroccan authorities initiated an economic reform programme in the early 1990s. Concerted efforts like these have revived the Moroccan economy to a great extent and attracted foreign investors from countries such as China and India.
In a move to increase exports to the US, Morocco signed a Free Trade Agreement (FTA) in 2000. The agreement has played a key role in increasing Moroccan exports to the US. Foreign companies have therefore shown a keen interest on setting up their units in Morocco to capitalise on the benefits provided under the FTA.
IT, energy, chemicals and infrastructure are potential sectors of growth for Indian SMEs in Morocco.
For information check out Bizxchange.in