Moroccan Head of Government Aziz Akhannouch and Organisation for Economic Co-operation and Development (OECD) Secretary-General Mathias Cormann signed a strategic collaboration agreement on Wednesday at the Morocco-OECD Country Programme II closing ceremony.
This new phase of partnership introduces a more flexible and innovative approach, aligned with Morocco’s strategic priorities.
The collaboration aims to build on previous achievements while addressing current challenges with more targeted objectives.
Before the signature, the two officials discussed the ongoing cooperation.
Akhannouch praised Morocco’s socio-economic progress under King Mohammed VI, focusing on renewable energy, automotive, and green hydrogen sectors.
Both leaders expressed commitment to expanding future cooperation, with a focus on strengthening Morocco’s global economic integration.
Morocco was the first North African country and one of four worldwide to sign a country program with the OECD.
The initial program (2015-2018) helped implement major reforms in Morocco’s economic, social, and governance sectors.
Cormann reviewed findings from the OECD’s first economic survey of Morocco, highlighting the country’s emerging regional economic power status.
OECD survey predicts Morocco’s Gross Domestic Product (GDP) will grow by 3.5% in 2024 and 4.0% in 2025, driven by investment.
Morocco’s inflation is expected to drop from 6.1% in 2023 to 2.3% in 2024, as global food prices stabilize, the report found.
Another decline was noted in public debt-to-GDP, projected to drop from 69.5% in 2023 to 68.2% by 2025, as Morocco narrows its budget deficit.
The new Investment Charter is boosting private sector investment through better governance and improved business conditions.
Morocco’s openness to trade and foreign direct investment continues to drive growth, but domestic private investment remains low.
Morocco’s climate goals include reducing carbon emissions by 45% by 2030 and achieving net zero by 2050, addressing water scarcity.
The OECD also presented its National Urban Policy Review, offering an action plan for more productive and sustainable cities.
The survey highlights Morocco’s need for more high-quality formal jobs, especially for women and youth, to improve living standards. Vocational training and education reforms are key to equipping Morocco’s young workforce with necessary skills for the labor market.