The Kingdom of Morocco is located in Northwestern Africa. It borders Algeria to the East and Southeast, Western Sahara to the South, the Atlantic Ocean to the West, and the Mediterranean Sea to the North. It is the only African country with coastal exposure to both the Atlantic Ocean and the Mediterranean Sea.
Morocco is 446.550 sqkm-wide, with a population of 35,7 million people in 2017 and a $110,2 billion GDP.It is the 5th economic power in Africa.
The Moroccan economy remains heavily dependent on raw materials exports. Modern sectors, such as telecommunications also constitute a growing part of the national economy. Tourism, agriculture, and industry are the most important sources of income in Morocco, the three leading exports being agricultural products (citrus and market vegetables), manufactured goods (including textiles), and phosphate products. Major imports are semi manufactured goods, industrial equipment, crude oil and food commodities.
Morocco’s largest trading partner is the European Union (EU). It has successfully taken advantage of its geographic position by establishing strong links with Europe but also by becoming the 1st port of entry to Africa.
Morocco negotiated a formal association with the EU in the 1990s, aiming at creating a Euro-Mediterranean free trade zone. Other trade agreements have also been negotiated with the North American Free Trade Agreement zone and bilateral arrangements with other countries in the Middle East and North Africa. In 2004 a Free Trade Agreement was signed with the United States.
France remains the major economic partner of Morocco, despite the increasing number of trading partners and investors. France has remained the 1st foreign investor in Morocco, with more than 800 subsidiaries of French companies identified. Morocco is the 1st destination of French investments in the African continent. 36 out of the 40 companies part of the CAC 40 are present in Morocco.
In this context, Simon Associés entered into a strategic alliance agreement with Benzakour Law Firm, headquartered in Casablanca.
Benzakour Law Firm is a major and prominent business law firm with a long history in Morocco.
For more than 50 years, it has served multiple national and international clients in different sectors and areas of business law, and focuses on assistance to foreign investors: Admiralty & Maritime, Aviation Law, Banking & Finance, Bankruptcy, Business & Industry, Civil Rights, Competition Law, Internet Law, Criminal Law, Employment, Environmental, Government, Insurance, International Law, Leisure, Litigation/Contentious, Motor Vehicles, Personal Injury, Real Estate, Science & Technology, Tax.
Benzakour Law Firm ranked Tier 1 in Dispute Resolution, and Tier 2 in Commercial, Corporate and M&A, and Projects and public law (The Legal 500, 2018).