Despite Immense Economic Potential, Trade Between Maghreb Countries Barely Reaches 5%
A staggering figure that the Maghreb Investment and External Commerce Bank (BMICE) is determined to change.
Created to finance regional integration projects, the BMICE targets investments involving two or more Maghreb countries, particularly in the industries of industry, external commerce, and services. "We support both large enterprises directly and indirectly through local banks," explained Kamel Habbachi, Deputy General Manager of the BMICE, on the sidelines of the first International Forum of the Maghreb Banking Sector for Commerce and Investment, held today, May 3, in Tunis.
This first international forum sought to introduce the still young bank - its activities started in 2017 - to Maghreb economic operators. But the ambition goes beyond: it is about building concrete bridges between economic actors in the region. "What we are missing today is a genuine Maghreb economic networking, he insisted.
To respond to this, the BMICE is developing a B2B platform listing companies active in the five Maghreb countries. The objective is to enable a Tunisian entrepreneur to easily collaborate with partners in Mauritania, Algeria, Morocco, or Libya. "The Maghreb holds immense opportunities. It's time to exploit our economic complementarities," Habbachi hammered.
The bank also aims to become a catalyst for a common market in the Maghreb, similar to the Gulf Cooperation Council. "The BMICE can be the concrete tool for this long-awaited regional integration," he declared.
Finally, Kamel Habbachi launched an appeal to public and private investors: "Come and discover what the Maghreb has to offer. The time has come to act."
