Proud of their history, Moroccans have a rich and diversified culture.

he most westernized of the Arab Muslim states, Morocco has shown itself to be a true friend to the U.S. for many years. Indeed, this was one of the first countries to recognize American independence.

Now, Morocco is looking to the U.S. for support. The north African country is seeking foreign direct investment in a bid to further modernize its agriculture-based economy. Guided by a young monarch, King Mohamed VI, who took the throne in 1999, and a reform-minded democratic government, it has already made considerable strides in opening the doors to foreign investors. There has been substantial reform of the legal and regulatory framework, tax laws have been revised and generous fiscal incentives are available.

	Fathalah Oualallou Moroccan Minister of Economy, Finance, Privatization & Tourism
A rich and diversified culture that is at the same time open to modernity

In 2001, foreign investments totaled over $3 billion, primarily in the telecommunications sector. Other areas of interest to investors include tourism, textiles, electronics and automobile components. The government’s privatization initiative has attracted great interest from overseas and is expected to generate further investment inflows next year. There is even talk of a free trade agreement between the U.S. and Morocco, which could transform relations between the two countries. The issue was raised during King Mohamed VI’s recent trip to the States.
Minister of Economy, Finance, Privatization and Tourism, Fathalah Oualallou, describes his country as “a point of convergence”, the most westernized country of the Arab world. “It’s a country proud of it’s history and culture; a rich and diversified culture that is at the same time open to modernity,” he says.

Casablanca, immortalized for Americans by Humphrey Bogart, is now one of the most prominent commercial capitals in the whole of Africa. With well-established links to Europe, and with an EU free trade agreement also in the pipeline, it is now looking West, across the Atlantic, towards the U.S. The door is open to American companies and tourists alike.