Current business situation
Morocco has a dynamic economic landscape, characterised by its proximity to Europe and a diverse geography. The Kingdom has positioned itself as a stable, business friendly hub for North-West Africa.
Individuals should take sensible precautions by dressing and behaving conservatively and ensure that travel documentation, including passports and any necessary visas, for themselves and their dependents are valid and up-to-date.
Business is usually conducted in the office rather than over meals. Breakfast meetings are rare and lunches are usually late and can be leisurely.
The dress code for business is smart and conservative. A suit and tie is appropriate for men and a suit for women. Dress conservatively if travelling outside of cities. Wear clothing that is appropriate to the warm climate, but respectful of the culture and religious customs.
Reconfirm appointments in advance and allow ample time between meetings in case of delays. Be punctual even though meetings can often start late and shake hands on arrival and departure.
Avoid making business appointments and meet contacts during the month of Ramadan.
Find out in advance in which language the meeting will be conducted. If necessary have an interpreter on hand.
If you are invited to your host’s home, take a small gift. Flowers or sweets are appropriate, not alcohol.
Foreign female business executives may occasionally encounter some resistance, although this is changing. Treat counterparts with respect and they will respond accordingly.
Setting up in Market
Australian companies are advised to spend time investigating the market, obtain professional advice where appropriate and thoroughly investigate the issues in entering the market and establishing business relationships.
Australian firms wishing to operate in this country should commit to the highest level of corporate behaviour and familiarise themselves with Australia's law and penalties pertaining to bribery of foreign officials.
Banking and finance
Banking law reform in 2006 bolstered the independence and supervisory role of the central bank. The banking sector includes 24 commercial banks, which largely follow the European system. Some Moroccan banks have attempted to expand operations throughout West Africa.
Banks are required to adopt International Financial Reporting Standards (IFRs). Efforts have also been made to pursue other international standards. The Moroccan stock exchange (CSE) is Africa’s third largest.
Links and resources
Government, business and trade
Australia Arab Chamber of Commerce and Industry
Director General des Douanes
Ministry of Economy, Finance and Privatization
Ministry of Foreign Affairs and Cooperation
Ministry of Industry, Commerce and Handicraft
News and media
Daily newspapers are published in French and Arabic. The main French newspapers are:
Le Matin du Sahara
The main Arabic newspapers are:
Maghreb Arabe Presse
The North African Journal
Please note: This list of websites and resources is not definitive. Inclusion in this list does not imply endorsement by Austrade. The information provided is a guide only. The content is for information and carries no warranty; as such, the addressee must exercise their own discretion in its use. Australia’s anti-bribery laws apply overseas and Austrade will not provide business related services to any party who breaches the law and will report credible evidence of any breach. For further information, please see foreign bribery information and awareness pack.