Morocco to back Mediterranean Union
A high-ranking official has revealed that the Moroccan government supports the French plan to launch a Mediterranean Union.
The proposal, which was put forward by French president Nicolas Sarkozy late last year, is designed to create a free trade area and greater cooperation between central banks, in the hope of encouraging economic growth in the region.
Several of the countries invited to join have expressed doubts about the scheme, with France's links with Israel said to be the sticking point, reports Magharebia.
However, in a speech delivered in Fez last week, Latifa Akharbach, secretary of state to Morocco's minister of foreign affairs, said that it is time to push forward with the project.
"There is sufficient political vision and cultural depth for the parties to realise that, as real partners, we can build a strong Euro-Mediterranean grouping," she added.
Property prices in Morocco have risen steeply in recent times, with housing ministry figures showing that the cost of real estate in Marrakech increased by 92% between 2003 and 2007.
< Back to latest news