Merieme Addou, AfricaNews reporter in Rabat, Morocco
The European Union (EU) has granted Morocco two grants worth 771 million dirhams (USD 100 million). The first grant aims to promote investments and exports, while the second one aims to contribute to the financing of the Rabat-Sale tramway project.
Worth 680 million dirhams (about $87,997,409), the first agreement will support and promote exports, development project and investments launched in the North African country.
The second agreement totaling 91 million dirhams (about $11,772,955), deals with financing the Rabat-Sale tramway project, that will be an appropriate response to the public transportation problem with its system of speed, comfort and environmental efficiency the development is expected to reinforce Rabat's financial autonomy and stimulate large-scale investments.
The deal was signed by Moroccan Economy minister Salaheddine Mezouar and Head of the Delegation of the European Commission in Rabat, Eneko Landaburu.
The agreement is part of the "Singular Pact" concluded between Morocco and the EU, and mirrors the pioneer aspect of this partnership at the Euro-Mediterranean level.
Morocco has remarkably bolstered cooperation with the European Council and became the first non-European country with a membership in the north-south center of the Council.
The North African country is the first and only southern country to obtain an advanced status with the European Union (EU) and to strengthen the partnership with it. This advanced status is the result of a 20-year cooperation process that began with the association agreement and led to the advanced status in 2008.
The two sides recently announced plans to extend their Free Trade Agreement to cover not only goods, but also all agriculture and services by 2010.
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