Home / Knowledge / News / Further trade reforms would sustain economic growth
Further trade reforms would sustain economic growth
25
Jun '09
The economic and trade reforms pursued by Morocco since its previous Trade Policy Review in 2003 have contributed to the positive overall performance of its economy, including its growing diversification, with an annual real GDP growth rate of 4.5% on average during the period 2002-2007, and 5.8% in 2008; nonetheless, the economy is beginning to feel the negative impact of the current economic crisis, according to a WTO Secretariat report on the trade policies and practices of Morocco.

Morocco has taken steps to liberalize its economic sectors, in particular key services. It has reduced the level of its average tariff protection by 13.2 percentage points to 20.2%. However, Morocco still imposes some tariffs at rates higher than the bound levels, and maintains a VAT regime that does not respect the principle of national treatment.

The report notes that a taxation reform, including the simplification of the tariff structure through the elimination of variable duties, and a reduction of the number and levels of rates, particularly in the agricultural sector, would help Morocco to fully honour its multilateral commitments and would further simplify its trade regime.

Improved commitments under the GATS would enable Morocco to consolidate its reforms in areas such as tourism and telecommunications, where its commitments fall short of the liberalization efforts already achieved.

The report, along with a policy statement by the Government of Morocco, will be the basis for the fourth Trade Policy Review (TPR) of Morocco by the Trade Policy Review Body of the WTO on 24 and 26 June 2009.

Click here to view more:

World Trade Organization


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search