Exports in the #aeronautic sector in Morocco reached MAD 15.34 billion by the end of July 2024, a 20.3% improvement compared to the same period last year, according to a report by the Office des Changes. This growth is attributed to the increase in sales in the “assembly” segment, which rose by 32.4% to MAD 10.04 billion, and to the EWIS (Electrical Wiring Interconnection System) section, which grew by 2.2% to MAD 5.21 billion, the report indicates. #manufacturing #industry #Morocco #exports
نبذة عنا
Launched in 2022, Barlaman Today is the English-speaking arm of the Continental Media Group, one of Morocco’s leading media organizations. Barlaman Today’s mission is to keep readers informed with the most relevant and up-to-date news, covering everything from breaking news and political updates to economic trends, cultural events, and solution-oriented reporting.
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التحديثات
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Streamlining African payment systems has the potential to bring more people into the formal financial system and facilitate seamless cross-border payments and transfers, and reduce cost, according to Abderrahim Bouazza, an executive at #Morocco’s central bank, Bank Al-Maghrib (BAM). Adopting more efficient cross-border payment would reduce payment delays and costs while increasing the security of transferring remittances, Bouazza said at a panel discussion on September 11 organized by Morocco’s Permanent Mission to the United Nations in #Geneva as part of the World Trade Organization’s (WTO) Public Forum. Beyond #remittances, cross-border payments have the potential to boost inter-continental trade in #Africa. Central banks across the continent are already working to integrate their payment systems into the Pan-African Payment and Settlement System (#PAPSS). #remittances #africa
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US’s central bank, the Federal Reserve, cut interest rates by half a point to 4.75% on Wednesday, marking its first rate reduction since 2020 amid easing #inflation concerns. Backed by 11 of 12 Fed members, the decision brings the federal funds rate to a range of 4.75% to 5%. The decision represents a significant shift in the Fed’s approach, following an aggressive battle against inflation over the past two years. Fed Chair Jerome Powell’s decision to cut rates reflects a pivot in the central bank’s inflation battle. The rate reduction aims to counteract the potential adverse effects of previous rate hikes, which had pushed borrowing costs to a two-decade high and had begun to impact the labor market, according to a report from The Wall Street Journal. #interestrates #inflation #unemplyment
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Aberdeen-based Zenith Energy Ltd has secured a pivotal well support contract with Predator Oil and Gas PLC for its helium project in Morocco, Energy Voice said. The project involves the MOU-5 well, which is focused on evaluating both helium potential and a gas-to-power initiative near the Maghreb-Europe Gas Pipeline (#GME). The contract is described as “world-class” by Predator, highlighting the importance of this #helium play in the region. Predator’s CEO, PAUL GRIFFITHS, emphasized the excitement surrounding the MOU-5 structure and the project’s potential. He noted that the geological model for helium resources in MOU-5, developed by Scorpiongeoscience, will be released this month. #energy #Morocco #helium
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Following the recent rainfall, dams' filling rate in #Morocco rose to an average of 28%, totaling 4.5 billion cubic meters as of September 18. Water resources remain below expectations, raising concerns about meeting agricultural, industrial, and urban #water needs. This situation has placed Morocco in a state of “structural water stress,” as highlighted in a concerning report from The World Bank on the Moroccan #economy. To address #waterscarcity, Morocco has started building 20 seawater #desalination plants that are intended to be operational by 2030 to meet its drinking water requirements, according to the Ministry of Equipment and Water. #waterscarcity #Morocco
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London-based Energean has completed drilling the #Anchois-3 appraisal well in the Lixus license, without reaching its exploration targets. In April 2024, Energean expanded into Morocco by partnering with Chariot Limited to take over as operator at two Moroccan offshore licenses, including Lixus, where the Anchois gas development project is located. Stena Drilling’s Stena Forth drillship was hired on a one-well contract with an additional option. Drilling began in August 2024, and preliminary results showed gas-bearing reservoirs in the B sands, one of the appraisal objectives.
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Morocco ranks 11th on Monkey Insider’s list of top olive-producing countries, recognized for its high-quality olives and #oliveoil. The country’s olive production thrives in #Fes, #Meknes, and Souss-Massa, with small-scale farmers and cooperatives leading the industry, according to Insider Monkey. Morocco’s olive oil exports were valued at USD 40 million in 2021, reflecting its strong presence in the global olive market. Olives are integral to Moroccan cuisine, used in dressings and dishes, either in whole form or as olive oil. #Morocco #oliveoil
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Morocco is showcasing its #culinary heritage and growing #export potential as the guest of honor at the Americas Food and Beverage 2024, the leading #US trade event dedicated to #agrifood products, according to the Moroccan Ambassador to #Washington, Youssef Amrani. “#Morocco is proud to once again participate in this world-renowned exhibition, where we will exhibit the excellence of our agri-food and fisheries products to an American market increasingly eager for our exceptional national product”, Amrani stated during the show which runs until Wednesday. He stated that the kingdom is actively pursuing a range of international partnerships, including those with the United States. They present significant growth potential and offer unique opportunities to increase the share of Moroccan agricultural exports reaching the US market over time. #agriculture #export #trade
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Morocco’s University Mohammed VI Polytechnic (UM6P) has officially expanded its presence to North America with the launch of its new branch, UM6P Canada, in #Montreal, according to a statement. The opening ceremony, held on Friday, featured notable attendees including Souriya Consul Otmani, Morocco’s Ambassador to Canada, and Quebec’s Minister of Higher Education, Pascale Dery. In a statement, the university says that UM6P Canada will focus on four key areas including research and development, executive education, entrepreneurship, and capacity building. The goal is to create a dynamic research environment that encourages knowledge transfer, technology exchange, and the development of expertise on both sides of the Atlantic, the statement explains. #highereducation #scientificresearch #education
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Morocco’s #economy is expected to grow by 4.6% in 2025, according to the Finance Ministry's triennial macroeconomic #report. This growth is mainly attributed to a substantial rebound in #agricultural value-added, assuming an average agricultural season for 2025. #Non-agricultural sectors are expected to maintain a similar growth pace as in 2024, contributing to the overall economic expansion. The secondary and tertiary sectors are projected to grow by 2.9% and 4.1%, respectively, helping consolidate national economic performance.