King Mohammed VI: Financing, South-South Cooperation Are Pillars of Africa's Future
The royal message, delivered by the King's Advisor Andre Azoulay, spoke of the urgent need for African countries to take ownership of their development agendas and collaborate through shared initiatives. Central to the monarch's speech was Morocco's active role in promoting regional partnerships and economic integration across the continent.
'Morocco has managed to strengthen its role as a strategic catalyst for South-South partnerships, and to serve as a natural bridge between the continent's various regions and the countries of the South,' King Mohammed VI declared.
The monarch noted a number of major initiatives led by Morocco that aim to deepen continental integration and shared prosperity. Among them is the African Atlantic Gas Pipeline (AAGP), a large-scale energy project designed to link West African countries with Morocco and eventually Europe. The King described it as 'a concrete example of integrated economic development.'
He also referenced the recently launched Atlantic Initiative, intended to facilitate Sahel countries' access to the Atlantic Ocean and to build 'a solid foundation for a new model of regional cooperation.' Alongside this effort, the Rabat Atlantic African States Process was established to promote inclusive dialogue and mutual benefit among participating nations.
In his message, the King called for African countries to chart their own path toward growth, noting that 'Africa should seek local solutions to its problems, and be the sole master of its destiny.' He stressed that sustainable progress must come from within and be tailored to the continent's specific context.
Financing for development
The King also pointed to the major obstacles hindering development, especially the lack of adequate and tailored financing.
'Without adequate financing tailored to Africa's specific needs, our continent will not be able to implement its reforms, nor carry out its development projects, in an optimal way,' he warned.
The monarch laid out key pillars for achieving comprehensive, sustainable development in Africa. He called for greater domestic resource mobilization, like leveraging remittances from the African diaspora, and less reliance on debt-generating external financing.
He noted reforms promoting good governance, transparency, investor protection, and judicial ethics as prerequisites for attracting investment and generating employment.
King Mohammed VI described economic integration as 'an absolute necessity,' noting that intra-African trade currently accounts for only 16% of the continent's trade, compared to 60% in Europe.
With Africa holding 40% of the world's reserves of raw materials, the King urged the continent to stop exporting unprocessed resources and instead focus on domestic transformation, regional value chains, and job creation.
'The time has come for Africa to reap the benefits of its enormous potential, capabilities, and wealth,' he said. Tags: AfricaKing Mohammed VIsouth south cooperation
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