MercoPress. South Atlantic News Agency

Morocco offers Spain fisheries agreement

More than two years after the EU-Morocco fishing agreement expired, Spanish fishing companies are set to benefit from Morocco's plans to modernise its economy. According to La Vanguardia, the Moroccan government is hoping to establish “preferential economic cooperation” with Spain, mainly in fisheries and agriculture.

Specifically, the Moroccan authorities are hoping to create joint ventures, which they hope to formalise soon with the Spanish authorities, as part of a wide ranging economic development plan.

It seems Moroccan authorities consider the agreement as crucial for the rebuilding of the economic relationship between the two countries, which has been deteriorating following the non-renewal of the fishing agreement with the EU in April 2001.

Analysts believe Morocco hopes Spanish companies will reap the benefits of participating in various investment and cooperation projects aimed at modernising the country's economy. In return, it expects Spain to be one of its most important clients for local agricultural and fishery products. Five working parties comprising Spanish and Moroccan experts are already working on the plan and hope to reach an agreement on the most controversial issues.

The Spanish fishing sector has high hopes for the agreement, which comes at a time of great changes in fisheries worldwide, as many traditional fishing grounds are facing increasing deterioration and aquaculture is becoming increasingly important throughout the world. According to experts, the Spanish sector's experience in this area and the conditions on Morocco's coast complement each other perfectly. (FIS/MP).-