Moroccan Minister of Industry and Trade praises great stature of Qatar Economic Forum

Minister of Industry and Trade of the Kingdom of Morocco Ryad Mezzour commended the great stature achieved by the Qatar Economic Forum, which today enjoys a broad global resonance, as it constitutes a platform to bring together partners, businesses and decision-makers at the economic and investment levels.This came in remarks by His Excellency to Qatar News Agency (QNA) on the sidelines of his participation in the "Creating Competitive Economies" session, held within the activities of the second day of the forum, in which Minister of Treasury and Finance of the Republic of Turkiye Mehmet Simsek and Secretary of the Department of Trade and Industry of the Republic of the Philippines Alfredo E. Pascual participated and was moderated by Anchor, Bloomberg Television, Joumanna Bercetche.His Excellency added that his country's participation in the forum comes to strengthen the political and economic partnerships between the two countries, especially since they are anticipating the Qatar-Morocco Year of Culture, which is also gaining great importance as it will enhance bilateral cooperation and partnership, leading to achieving the desired integration between the two brotherly countries, politically, economically, and fraternally.In his speech at the session, His Excellency pointed out that during the earthquake that struck Morocco recently, Qatari teams were the first convoys to arrive in the country, adding from this platform "We say thank you to Qatar for your solidarity. We are proud to receive you and we welcome you to Qatar-Morocco Year of Culture 2024, which will be hosted by the city of Marrakesh, and we invite you to participate in it."Mezzour pointed out that his country, as usual, emerged from adversity with flexibility by relying on three main elements: the success of implementing its vision, the stability of its strategies, and the comprehensiveness of its development plans, in addition to the security and civil peace it enjoys, and what is required is to preserve these achievements. Despite difficulties, Morocco maintained an inflation rate of 2.5 percent, which helped it build a secure economy in light of which continued growth was achieved.After about 15 years of implementing its vision, Morocco is proud today that approximately 85 percent of its exports are manufactured on its soil and it also has the largest car factory in the world, the Moroccan minister stated, adding that they will not stop there and that they aspire to reach higher levels in an effort to get rid of unemployment, enhance the capabilities of Moroccans, develop exports, attract more investments, and deliver Moroccan products to all regions.Turkish Minister of Treasury and Finance said that the inflation rate in his country is estimated at about 7 percent, stressing that Turkiye will do everything in its power to reduce and control this rate, especially after adopting a corrective monetary policy and fundamental reforms that would curb this rate and enhance productivity and competitiveness, including shifting to green economy.He noted Turkish government's endeavor to redirect investments towards specific sectors and fields, supported by a package of sound procedures and policies to enhance investors' confidence in the Turkish climate for sustainable growth, ensuring price stability permanently and not for a limited interim period.HE Secretary of the Department of Trade and Industry of the Republic of the Philippines Alfredo E. Pascual praised his countrys economic performance after achieving a growth of 5.7 percent since the beginning of this year, considering it to be the highest rate in Southwest Asia. He stressed in the same context the effort to find new programs to enhance the economic growth of the Philippines, foremost of which is developing infrastructure that will cost approximately $160 billion, and linking the Philippine geography and its islands to each other, pointing out that the Philippines has constructive relations and partnerships with all.The session discussed ways to create a dynamic global economy, find new mechanisms to attract foreign investment, in addition to formulating integrated policies that enhance competitiveness, and ensure that investments reach the appropriate sectors.The participants discussed the specific factors for enhancing and sustaining productivity and the practical steps to reach a truly competitive economy that generates and stimulates growth.