Export-driven Industrial Development in Morocco: Prospects for Korean-Morocco Partnership
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Morocco is located en route to Europe from the African continent. EU is the main trading partner sharing more than 65% of exports and 60% of imports. Morocco applied for EU membership but has not yet succeeded. The Moroccan economy has not been fully industrialized. Government policies have not been effective in terms of industrial promotion. With the limited size of the domestic market, Morocco could benefit greatly from export promotion policies so that its economy can become more closely integrated with the EU. In this sense, the Korean model of industrialization based on export promotion could be a good match and benchmark. After analyzing the current situation of the Moroccan economy and export policies, this paper suggests ways in which Korea can share its successful development experience in the public and private sectors, and academia.
Abstract
Morocco is located en route to Europe from the African continent. EU is the main trading partner sharing more than 65% of exports and 60% of imports. Morocco applied for EU membership but has not yet succeeded. The Moroccan economy has not been fully industrialized. Government policies have not been effective in terms of industrial promotion. With the limited size of the domestic market, Morocco could benefit greatly from export promotion policies so that its economy can become more closely integrated with the EU. In this sense, the Korean model of industrialization based on export promotion could be a good match and benchmark. After analyzing the current situation of the Moroccan economy and export policies, this paper suggests ways in which Korea can share its successful development experience in the public and private sectors, and academia.
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