Morocco hosts middle-income countries conference to talk economic prosperity

On February 6, a landmark gathering took place in Rabat: the High-Level Conference on Middle-Income Countries (MICs). With a UN representative in attendance, the meeting marked a key step towards «structuring this group of countries as a force for proposals and negotiations», declared Moroccan Foreign Minister Nasser Bourita.

Representing 108 nations, MICs hold significant weight, encompassing 75% of the world's population and 30% of global GDP. Their diverse cultural, geographical, and economic makeup offers a unique perspective. The conference aims to challenge multilateral institutions to provide financing that aligns with MICs' development progress and ambitions.

Bourita emphasized the need for global backing to help MICs «escape the middle-income trap» and achieve economic transformation. He underscored the crucial role these countries play in achieving global development goals.

The MIC conference aligns with Morocco's ongoing strategy of promoting South-South cooperation, building on three previous gatherings of Atlantic African countries. King Mohammed VI recently championed the creation of an institutional framework for these 23 nations, focusing on regional security, stability, and prosperity.

Morocco's commitment extends beyond Atlantic Africa, as evidenced by the recent inclusion of Mali, Niger, Burkina Faso, and Chad in the King's initiative facilitating Sahel countries' access to the Atlantic Ocean.