Morocco Delays Financial Information Exchange Agreements to Protect Diaspora
Morocco Parliament. Venue of the Parliamentary Conference on Interfaith Dialogue: Working Together for Our Common Future. Image courtesy of PAP Media
The Moroccan House of Representatives approved on Tuesday the postponement of two bills on tax and financial information exchange agreements, with the aim of protecting the interests of the Moroccan diaspora community residing abroad.
The House of Representatives in May, unanimously approved seven international agreements aimed at strengthening cooperation and partnership relations with friendly countries. However, the consideration of two important agreements relating to Bill No. 76.19 on the multilateral agreement on exchanging declarations between authorities of different countries, and Bill No. 77.19 on the automatic exchange of financial and tax information.
The bills were referred back to the Committee of Foreign Affairs, National Defense, Islamic Affairs, and Moroccans Residing Abroad, pending further negotiations with the government. The Foreign Affairs Committee has taken into account concerns of Moroccans residing abroad, who fear that certain articles in these agreements may harm their interests. The government will review the articles in question before further consideration.
Morocco is committed to ensuring its international commitments do not compromise the interests of its diaspora. The approved agreements cover various sectors, including air transport, merchant marine, African Union privileges and immunities, African Center for the Development of Mineral Resources, recognition of higher education in Arab countries, and work and employment initiatives within the Organization of Islamic Cooperation.
