MOROCCO-EU: CGEM PRESIDENT SEES IN ECONOMY DECARBONIZATION ‘OPPORTUNITY’ TO CREATE INNOVATIVE COMMON MARKET

Casablanca – Economy decarbonization offers European and Moroccan businesses a historic opportunity to create an innovative, green and common market and make it a model for the rest of the world, said Chakib Alj, head of Morocco’s top employers’ union, on Tuesday.

The Moroccan top official’s statement came during a seminar initiatied by his General Confederation of Moroccan Businesses (CGEM) on the European Union’s (EU) Green Pact.

On this occasion, Alj noted that the entry into force of the carbon adjustment mechanism at the EU’s borders is a major event and the first measure of its kind to stimulate green innovation in the industrialized world.

“Morocco’s strategic industries are ready to take up this challenge and recognize the importance of this moment,” the CGEM president explained in a pre-recorded speech broadcast at the meeting.

“This year, we’ve enlisted the help of our European partners to create a culture of sustainability,” he further noted. “For example, in May, we launched a modular guide on the need to decarbonize our economy, in collaboration with the European Investment Bank.”

“We recognize that there are many regulatory challenges associated with this move. At the same time, the opportunities are undeniable,” he said.

The CGEM President also called on policymakers to continue to provide incentives that stimulate innovation in green technologies, stressing the importance of striking the right balance between bringing new technologies to market and ensuring a fair environmental transition, and building strong global partnerships