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Morocco joins the OECD Declaration on International Investment

OECD Nov 23, 2009
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Morocco has joined 41 other countries in signing the OECD Declaration on International Investment and Multinational Enterprises, in a move that commits it to supporting an open environment for international investors and encouraging responsible investment by multinational companies as a means to promote prosperity and growth.

In signing the Declaration, Morocco undertakes to treat foreign investors in the same way as domestic investors and to promote responsible business conduct. Moroccan investors abroad will receive similar equitable treatment in other signatory countries. These include all 30 OECD countries plus Argentina, Brazil, Chile, Egypt, Estonia, Israel, Latvia, Lithuania, Peru, Romania and Slovenia.   

Morocco’s adherence to the Declaration, announced at a MENA/OECD Ministerial Conference in Marrakech on Governance and Investment for Development, follows a thorough review of its investment policies by the OECD’s Investment Committee, which is due to be published shortly.

Speaking at a press conference, OECD Secretary-General Angel Gurría welcomed Morocco’s adherence as marking recognition of its efforts to develop a more open and transparent investment regime and to ensure improved business conditions for both domestic and foreign investors. 

Nizar Baraka, Morocco’s Minister-Delegate to the Prime Minister in charge of General and Economic Affairs, stressed that Morocco sees its adherence not only as a recognition of its investment policy achievements but also as a roadmap for future reforms in line with OECD countries’ best practices and standards.

Morocco has experienced strong economic growth in recent years, thanks to rising domestic demand by both consumers and investors, and it now needs to broaden its sources of growth, Mr. Baraka said. By working with OECD and other countries that are party to the Declaration, he added, Morocco aimed to remove obstacles to inward investment and make its economy more attractive to investment by foreign companies.

Website: http://www.oecd.org/document/50/0,3343,en_2649_34887_44139250_1_1_1_34529562,00.html

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