Maghreb pursues regional economic integration

• Pages: 349-351

Page 349

Greater economic integration among Algeria,Morocco, and Tunisia could create a regional market of more than 75 million consumers. That market's capacity to improve economic efficiency, attract more investment, and ultimately boost growth and reduce unemployment provided the backdrop for a November 21-22 trade facilitation conference in Algiers.

IMF Managing Director Rodrigo de Rato joined top policymakers from the three countries to discuss ways to deepen regional cooperation.

Page 351

Maghreb region aspires to greater economic integration

During a conference on trade facilitation in Algiers, November 21-22, IMF Managing Director Rodrigo de Rato called for greater regional economic integration among the Maghreb countries, which he said could play a crucial role in propelling economic reforms. De Rato, who joined top economic policymakers from Algeria, Morocco, and Tunisia, said greater integration-which could create a market of more than 75 million consumers-would improve economic efficiency, attract more foreign investors, and create opportunities for mutually beneficial trade within the region.

Although the three countries have made important strides toward economic prosperity in recent years, they still need to step up economic reforms that will accelerate growth and thereby reduce unemployment and poverty. Stable macroeconomic conditions and a steady pace of economic reforms have already led to a significant rise in per capita incomes.

The region's increasing openness, particularly its growing...