Morocco

The Kingdom of Morocco is situated in northwest Africa. Morocco’s shores start with the Atlantic Ocean and go past the Strait of Gibraltar onto the Mediterranean Sea. To the north the country borders with Spain (a water border), to the east with Algeria and to the south with Mauritania.

The Kingdom’s economy is considered quite liberal, managed by the law of supply and demand. Ever since 1993, the state has aimed to privatize the once owned by the government economic sectors.

Macroeconomic stability has been brought to Morocco, since 2003, when King Mohammed introduced new economic policies. This stability is reflected in the bettered performance of the financial sector, in the generally low inflation, and in the stable growth in the developing of the industrial and service sectors.

Morocco is rich in certain natural resources, most important of which is phosphate – the state is the world leader in the production and export of phosphate and all derivative products. Agriculture, tourism and fisheries contribute most for the development and increase of the country’s progress. Due to the evolution of industry and agriculture, Morocco’s GDP has increased considerably in the last few years.  The country’s private sector is also well developed, as well as its foreign trade activity and relations. Morocco’s strongest partners are: Spain, France, India, Brazil, Italy, Saudi Arabia etc.

Tips for Doing Business in Morocco

• Morocco has been highly influenced by Europe, especially France, and business is usually conducted in French. However, many companies prefer English or Arabic. You should check with your partners prior to your business visit. You may need to hire a personal interpreter.
• Most Moroccan businesses are open Monday to Friday, unlike most of the Arab world, but you should always check.
• Business decisions require time and Moroccans do not like to be rushed. Their companies are usually highly bureaucratic and a decision will need approval from many directors.
• Moroccan businessmen look for long-term deals and tend to work with those they trust. Therefore contacts and relationships are crucial to business in the country. You should always allow time for a solid relationship to take form between you and your partner. Contacts and solid relationships will help you in achieving your business objectives.
• Moroccans are usually formal when doing business. It’s important to respect everyone you meet and be courteous. Do not use first names until you are given permission.
• There is no formal way to exchange business cards, but having French or Arabic on one side is a good idea.
• Expect a good amount of haggling when negotiating and do not use pressure tactics or openly confront anyone. Moroccans are non-confrontational by nature and you should try to preserve their honor when talking business.

Cost of Living

The following table compares the costs of some basic products in Rabat, Morocco and Sofia, Bulgaria.

Official Holidays in Morocco

1 January – New Year’s Day
11 January – Manifesto of Independence
15 February – Aid al-Mawlid (Prophet’s Birthday)
1 May – Labour Day
30 July – Feast of the Throne
14 August Fete Oued Eddahab (Oued Eddahab Allegiance Day)
20 August – Revolution du Roi et du Peuple (Anniversary of the King and the People’s Revolution)
21 August – Kind Mohammed’s Birthday
31 August – Eid al-Fitr (End of Ramadan)
6 November – Eid al-Adha (Feast of the Sacrifice)
6 November – Marche Verte (Anniversary of the Green March)
18 November – Fete de l’independance (Independence Day)
26 November – Fatih Muharram (Muslim New Year)