Businessmen of the Maghreb Arab Union unanimously agree that the Marghreb has no other choice but to work for the realisation of the great Market of the Margreb region, which is a geographical area with over 100 million consumers, added the same source.

In fact, up to now, trade between the countries of the region is still below the level aspired for. The experts of the Maghreban Union of employers estimate that it does not exceed 2.9%.

Morocco's exports towards these countries –Algeria, Tunisia, Mauritania and Libya- reached MAD 11.2 billion in 2007, against 7.8 billion a year earlier, registering a rise of 42.5%.

Furthermore, according to the Moroccan foreign exchange office these exports have grew by 11.7%, that is MAD 1.9 billion, compared to MAD 1.7 billion in 2006. Imports, for their part, increased 51.4%, that is MAD 9.2 billion, relative to 6 billion in 2006.

Morocco's trade deficit, as part of its trade with the Maghreban countries, reached MAD 7.2 billion, 6 billion of it with Algeria alone; the rest with Tunisia and Libya. The surplus is registered only with Mauritania (MAD 347 million).

As to the nature of imports from the Maghreb countries, Morocco buys mainly energy products, especially gas and other fuels, and chemical products.

But despite these figures, trade between the Maghreb countries is still below its due level. This is why these countries intend to organise the first forum for the region's businessmen.

The forum, the first of its kind, will be organised in Alger on May 10-11. It aims at lifting the constraints that hamper investments and encouraging joint ventures and trade. The targeted sectors are, inter alia, real estate, agribusiness, agriculture, technology, etc.

Some 700 economic players from the region are expected to take part in this event. Morocco will be represented by a delegation of about 100 economic players.

Earlier this week, Morocco and Tunisia had signed three cooperation agreements and two executive programmes, during their 15th High Joint Commission held on April 6-7, under the co-chairmanship of Prime Minister Abbas El Fassi and his Tunisian counterpart, Mohamed Ghannouchi.

The agreements concern cooperation in tourism; strategic studies, statistics and planning; and energy and renewable energy, while the two programmes relate to the pedagogical and cultural fields.