now theAfrica it is becoming more and more the new Italian export frontier. And Morocco can certainly be considered the best gateway to this border. For this, one was started Mission of government, banks and companies aimed at encouraging commercial relations between Italy and Morocco. From 20 to 22 October, more than 70 companies and 7 banking groups for a total of 120 people will participate in the entrepreneurial mission with a stop in Casablanca. Its goal is to explore the business opportunities for Italian companies in the sectors agroindustry, materials e construction machinery, automotive e sanitary. The factors of interest for Italian companies are: political stability, the economic dynamism of recent years and the strong complementarity of the Moroccan economic system with the Italian one.
In order to have a clearer view of the factors of advantage in encouraging the improvement of trade relations between Italy and Morocco, reference can be made to the country profile of Sace. The political stability of Morocco is also confirmed by Sace; someone reforms they have strengthened the political relevance of the prime minister and parliament, even as the role of the monarch remains dominant. In the political field, the only risk, even if limited, seems to derive from possible Islamist infiltrations from neighboring countries.
Despite the delay in the economic recovery in Europe, Morocco's largest trading partner, the country's economy grew by more than 2013% in 4driven in particular by the agricultural sector. Date the energy dependence of the country, high oil prices have weighed on the public budget and external accounts in recent years. The financial system is stable and has good capacity to absorb any shocks, given the adoption of international prudential standards. The attitude towards foreign operators is one of openness and promotion through the provision of numerous incentives. Despite recent advances, the legal system remains burdened with limited transparency and inefficiency. There are many government policies to strengthen strategic industrial sectors, ranging from the strengthening of agro-industry to those of sectors with high added value such as the automotive. Precisely in the latter sector, Renault has already made an investment of USD 1,3 billion, relating to a new assembly plant. The aerospace industry and logistics services are also rapidly expanding, driven by recent investments aimed at the infrastructural consolidation of the Tanger Med port. The investment plans in the health sector and the strong building development that open up new partnership opportunities between the our entrepreneurial systems, aimed not only at the local market, but also at third party markets.
Italy's position in the commercial relationship remains positive. In 2013 the trade balance recorded an increase after a downward trend that has persisted since 2008. We are currently the sixth largest supplier in Morocco. Italian exports grew by +12% (year/year) exceeding 1,5 billion euros. Extremely important sectors remain that of instrumental mechanics (21,7%), that of fashion (20,7%), manufacturing (8,9%) and metallurgy (8,6%). Italian imports recorded a growth equivalent to that of exports, but settling at 657 million. Italy is eleventh in terms of FDI exposure in Morocco. Among the large Italian investors in Morocco, we note the presence of Italcementi SpA and Cristalstrass, the world's second largest producer of crystals, in addition to the consolidated activity of Italian operators in the textile and clothing sector. Considerable Italian investments are also present in the logistics, passenger transport and services sector. Sace opens up "unconditionally" to insurability of Moroccan risk, be it sovereign, private or banking. Furthermore, the same insurance-financial group places Morocco in the shortlist of emerging countries a high potential, characterized da low or medium risk profiles but progressively improving, which could offer Italian exports a potential of 38.5 billion in the next two years. Against this perspective, Sace announced 200 million new operations under study in the North African country alone.
Thanks to the good political and economic relations maintained at an international level, Morocco is increasingly establishing itself as a gateway to the rest of Africa and has signed free trade agreements which guarantee it preferential access to the markets of 56 countries.
The mission is promoted by the Ministries of Economic Development and Foreign Affairs and International Cooperation and is organized by Confindustria, ICE-Agency for the promotion abroad and internationalization of Italian companies, ABI, RETE Imprese Italia and Unioncamere. The initiative is led by the Deputy Minister of Economic Development Carlo Calenda.
The Economic Forum is scheduled for 21 October in the presence of the institutional representatives of Italy and Morocco and the bilateral meetings between companies, while the following day in-depth seminars and company visits are scheduled.
