Morocco sees return to export growth next year

By Tom Pfeiffer

RABAT (Reuters) - Moroccan exports and industrial jobs will start growing again next year as business-friendly reforms help the north African country rebound quicker from the global economic downturn, its industry and trade minister said.

"In 2010, we will do better than 2009" in terms of exports, Ahmed Reda Chami told Reuters in an interview. "But Europe and the United States must not deal us a W-shaped crisis."

"We are exiting the crisis, still with jobs being destroyed, but the economy is taking off again... We will create jobs next year."

The government is building 22 specialised business parks with new road and rail links to a sea terminal near Tangier that promises to be the biggest port in the Mediterranean and Africa when it reaches full capacity.

It is trying to reverse Morocco's image as an unpredictable investment destination and get more foreign firms to open factories to benefit from its low costs and proximity to Europe, helping tackle persistent poverty and unemployment.

The global financial crisis hit just as the drive for new business was gathering steam. The government sees exports of textiles, car parts and electronic components falling by as much as 4 percent, 20 percent and 30 percent respectively this year.

Companies such as Nissan Motor Co. and Schneider Electric have delayed investments in Morocco and some textile firms that invested heavily to expand production have been caught out by the sudden drop in demand.

RECOVERY