Agadir – A new handbook by Oxford University explores Morocco’s economy and its improvement throughout the years, attributing this development to the country’s integration into the global economy.
Oxford University Press published the handbook on April 3, bringing together 53 contributors across 34 chapters, addressing Morocco’s economic transformation over recent decades from 1960 to 2025.
Oxford’s handbook also attributed Morocco’s economic involvement to its trade agreements with key partners such as the European Union and the United States, as well as growing economic engagement across Africa.
Entitled “The Oxford Handbook of the Moroccan Economy”, the publication examined the Moroccan economy, including its macroeconomic stability, large-scale infrastructure investment, regulatory improvements, and enhanced public policy coordination.
According to the handbook, these factors have helped the country navigate multiple external and domestic shocks, including the 2008 global financial crisis, the COVID-19 pandemic, recurrent droughts, and the Al Haouz earthquake.
Morocco’s economic diplomacy
Morocco’s economic diplomacy has evolved in response to major shifts in the global economy, marked by the rise of emerging powers such as China, growing trade tensions like tariffs, and market access, Oxford said.
With all these changes, Morocco has adopted a pragmatic strategy, positioning itself as a stable and reliable partner while diversifying its international alliances.
At the regional level, Africa stands at the core of Morocco’s approach. Building on historical, political, religious, and cultural ties, the country promotes South–South cooperation through mutually beneficial partnerships.
Morocco’s return to the African Union in 2017 marked a key step in strengthening its continental engagement, the handbook elaborated.
Morocco’s economic diplomacy has also emphasized the importance of regional integration and large-scale projects, such as the $25 billion Morocco–Nigeria gas pipeline and Morocco’s Royal Atlantic initiative launched by King Mohammed VI.
The Atlantic Initiative aims to provide landlocked Sahel countries with strategic access to the Atlantic Ocean through major infrastructure investments in ports, roads, and rail.
These efforts’ main objectives are to boost collaboration, increase Morocco’s appeal to investors, and foster shared development across the continent.
Morocco’s economic diplomacy
Morocco’s economic diplomacy is shaped by a combination of factors and strategic policies, with free trade agreements (FTAs), infrastructure development, and investment in human capital playing a central role in strengthening its global economic positioning.
Due to its geostrategic location at the crossroads of Europe, Africa, and the Middle East, Morocco has developed a network of trade agreements to support its integration into global value chains.
These include partnerships with the EU, the European Free Trade Association (EFTA), and the African Continental Free Trade Area (AfCFTA), alongside regional frameworks such as the Greater Arab Free Trade Area (GAFTA) and the Agadir Agreement.
Morocco has also signed bilateral FTAs with key partners, including the US, Turkey, the UAE, and the UK.
Morocco is the only African country with an FTA with the US
Improving the business environment is another factor that contributed to Morocco’s economic transition. Morocco became one of North Africa’s most attractive destinations for investment due to key reforms.
These include the Investment Charter, which ensured equal treatment for domestic and foreign investors, facilitated capital repatriation, and strengthened intellectual property protection.
The US and Morocco signed a comprehensive free trade agreement on June 15, 2004, which came into effect on January 1, 2006, aimed at supporting Morocco’s economic and political reforms and expanding commercial opportunities for US exports by reducing trade barriers.
Since the agreement’s implementation, the US goods trade surplus with Morocco has grown significantly, reaching $3.4 billion in 2024, compared to $35 million in 2005.
In 2024, US exports to Morocco totaled $5.3 billion, a 37.3% increase from the previous year, while imports from Morocco rose to $1.9 billion, up 12.3%. Morocco is now the 46th largest export market for US goods.
Major investments in ports, industrial zones, highways, and rail networks have boosted connectivity and reduced costs for businesses.
For instance, Tanger Med Port marked a turning point, positioning Morocco as a leading logistics hub. By 2024, it handled over 10 million containers and ranked among the world’s top-performing ports.
In addition, ongoing projects such as Nador West Med and the Dakhla Atlantic port aim to further enhance trade flows, particularly between Europe, West Africa, and the Mediterranean.
These infrastructure initiatives, combined with a supportive business environment, have strengthened Morocco’s economic diplomacy by facilitating trade, attracting investment, and promoting regional integration.