Morocco, proud of its Arab, Islamic and African affiliation, is firmly committed to making its human capital available to brotherly and friendly countries and to exchanging with them the know-how it has to its credit in various fields, said King Mohammed VI.
In a message addressed to participants in the joint annual meetings of Arab financial institutions, the work of which opened on Saturday in Rabat, the Sovereign said he was convinced that “our growth and our prosperity cannot be conceived separately from our Arab and African brothers “.
In fact, Morocco is involved in many projects aimed at strengthening Arab and African economic integration, the Sovereign continued in this message, which was read out by the head of government, Aziz Akhannouch, citing as for example the Morocco-Nigeria gas pipeline, a strategic project in favor of peace and common development and which aims to consolidate energy security at the continental and international levels.
The King, on this occasion, welcomed the support of financial, regional and international institutions, which accompanied the financing of the studies of this promising project and which expressed their willingness to support the start of this structuring continental project.
The Sovereign also made a point of expressing his sincere thanks to the Arab financial institutions which support the dynamics of socio-economic development in the Kingdom, whether by their constant contribution to the financing of its development and investment projects, or by the assistance technique they provide in various fields.
The King also praised the efforts made by these institutions to provide “financial support to our Palestinian brothers”, while calling for continued support for projects that support the dynamics of development and resistance action in Palestine.
The Sovereign also indicated that Morocco, which today has the privilege of hosting this meeting for the sixth time, confirms the particular interest it attaches to Joint Arab Action, noting that this meeting of the Arab financial institutions is an essential meeting which makes it possible to take stock of what has been accomplished and to salute their meritorious contribution to the general development effort.
“It also offers the opportunity to identify future development challenges in a rapidly changing world and to discuss means likely to help Arab countries to identify these challenges,” said the King.
The Sovereign added that this year, the Arab financial authorities “are holding their joint meetings at a time when the world economy is part of a vague context and all the more generating uncertainty as the effects of the Ukrainian crisis and the international geopolitical tensions are still being felt”.
“Indeed, inflationary pressures continue their upward curve; credit conditions are getting ever tighter; the risks associated with banking crises are further accentuated and climate change, which is constantly accelerating, is causing growing concern and is compromising the prospects for economic growth and market stability on a global scale”, wrote the King in his message.
Faced with these rapid developments and the risks they entail in the medium and long term for energy and food security, the Sovereign underlined, “we are strongly called upon to pool common development efforts, to update strategies and related programs, so that they respond, in an appropriate manner, to the aspirations and needs of the Arab populations in general and of the youth in particular”.