Berd: Challenges and progress within the digitalization of worldwide commerce in Morocco

The European Financial institution for Reconstruction and Growth (EBRD), in partnership with the Worldwide Chamber of Commerce (ICC) Morocco and the ICC Digital Requirements Initiative (DSI), organized on June 25 in Casablanca, a significant convention on the “Digitalization of Worldwide Commerce in Morocco”.

This assembly aimed to facilitate discussions between political decision-makers, EBRD companion banks, and personal sector gamers on the advantages of the digitalization of worldwide commerce and its financing. Drawing on worldwide experiences, notably these of France, which not too long ago adopted a regulation recognizing digital industrial paperwork, and Turkey, the place the EBRD collaborates with the Ministry of Commerce and Finance, members explored reforms essential to implement in Morocco.

Shona Tatchell, Director of the EBRD’s Commerce Help Program (TFP), opened the convention by highlighting the significance of supporting the financing of commerce transactions by companion banks in EBRD economies. She recalled that the PFE supported 1,916 transactions in 2023, reaching a file annual quantity of greater than 2 billion euros. Since its inception in 1999, this system has processed greater than 33,000 transactions, totaling greater than €33 billion.

Tatchell additionally highlighted the achievements of the PFE in Morocco, the place it has been lively since 2013. In collaboration with seven companion banks, the PFE has supported 801 industrial transactions, for a complete quantity of two billion euros, masking varied sectors such similar to meals merchandise, agricultural items, industrial gear, and lots of others.

For his half, Mentioned Maghraoui Hassani, Director of Protection and Business Regulation, insisted on the advantages of digitalization to extend transparency and scale back corruption. He famous that decreasing prices and bettering transparency are vital advantages of digitalization. Nonetheless, he additionally acknowledged the challenges, notably these associated to the popularity of digital paperwork by all stakeholders.

Maghraoui Hassani burdened that, though Morocco has digitalized a big a part of its administrative procedures, some nonetheless stay depending on paper trade. He known as for widespread adoption of digital paperwork, giving them the identical authorized standing as paper paperwork. This recognition wouldn’t solely facilitate commerce, but in addition the provision of digital paperwork in different areas.

The convention was structured round two primary panels. The primary, devoted to digitalization in Morocco, allowed native stakeholders to share their experiences and concrete initiatives on this space. The second panel explored the challenges and advantages of digitalization, highlighting worldwide initiatives and standardization efforts. The discussions highlighted the necessity for applicable authorized frameworks to help this digital transition. By working intently with worldwide companions and adopting authorized frameworks supporting digitalization, such because the MLETR, Morocco might take full benefit of the advantages of digitalization, thereby strengthening its competitiveness in an ever-changing world enterprise surroundings.

Asma Loudni