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Welcome Management Note

Mr Mr Said BERBALE
The Managing Director
Mr Abdelghani AIT-IKHLEF
The Deputy Managing Director

BMICE, a new asset for economic integration in the Maghreb

The economic and financial integration of the Maghreb has become, more than an economic necessity, a major imperative and an essential factor for the structural transformation of Maghreb economies within regional and international contexts characterized by multiple strategic issues.

Despite a considerable potential for trade and investment, costs of non-Maghreb are reflected for each country in the region by an economic growth shortfall of 1.5% to 2% on average, causing a loss of 200,000 to 300,000 additional jobs per year in the region.

To overcome this shortcoming, and based on the elaboration of a clear vision together with a five-year business plan, we are aiming for BMICE to become the solid foundation of Maghreb integration and the catalyst for building an integrated Maghreb economy. In this context, we will identify and finance strategic initiatives and will opt for targeted choices of exchange products and promising sectoral niches.

The Maghreb has a huge unexploited potential. In fact, it concentrates nearly 3% of world oil reserves, 4% of natural gas reserves and 50% of proven reserves of phosphates. The comparative advantages revealed in fishing, agriculture and mining sectors, the considerable deposits of renewable energies in all the countries as well as the existence of industrial and service sectors in perpetual quest for upscale are all areas of intervention that we plan to target.

It goes without saying that to benefit from of this potential, the availability of adequate infrastructures and a favorable business climate are necessary. BMICE will therefore include in its priorities the financing of infrastructure projects. It will also ensure to be the force of proposal for the improvement of business environment throughout the Maghreb. In this respect and in addition to the funding of inter-Maghreb projects, BMICE will work towards the achievement of sustainable integration driven by the gradual lifting of tariff and non-tariff barriers and the gradual establishment of a free trade zone; as well as the elimination of obstacles and regulatory constraints affecting the Maghreb business climate.

  Also, the Maghreb private sector will be the main strategic lever of BMICE's scope of intervention. Already, several operators have exchange and / or investment activities in other Maghreb countries. These operators and those   involved in activities with high integration potential will be targeted by BMICE.

We are also aware that the achievement of BMICE's objectives would not be possible without support and collaboration with, on one hand, multilateral partners and international institutions operating in the region, which already welcome BMICE, and also  with national authorities and institutional and financial actors, on the other hand.

BMICE management and its senior Maghreb managers aware of the importance of the challenges to be met to achieve this major work are   determined to spare no effort to achieve their mission.

 

 

Mr Mr Said BERBALE
The Managing Director
Mr Abdelghani AIT-IKHLEF
The Deputy Managing Director