Al Marzouqi Appointed General Coordinator for Negotiations and Head of GCC Negotiating Team

Secretary General of the Gulf Cooperation Council (GCC) Jassem Albudaiwi meets with Dr. Raja bin Manahi Al Marzouqi, newly-appointed General Coordinator for Negotiations and Head of the Negotiating Team of the GCC, in Riyadh on Wednesday. (GCC)
Secretary General of the Gulf Cooperation Council (GCC) Jassem Albudaiwi meets with Dr. Raja bin Manahi Al Marzouqi, newly-appointed General Coordinator for Negotiations and Head of the Negotiating Team of the GCC, in Riyadh on Wednesday. (GCC)
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Al Marzouqi Appointed General Coordinator for Negotiations and Head of GCC Negotiating Team

Secretary General of the Gulf Cooperation Council (GCC) Jassem Albudaiwi meets with Dr. Raja bin Manahi Al Marzouqi, newly-appointed General Coordinator for Negotiations and Head of the Negotiating Team of the GCC, in Riyadh on Wednesday. (GCC)
Secretary General of the Gulf Cooperation Council (GCC) Jassem Albudaiwi meets with Dr. Raja bin Manahi Al Marzouqi, newly-appointed General Coordinator for Negotiations and Head of the Negotiating Team of the GCC, in Riyadh on Wednesday. (GCC)

Secretary General of the Gulf Cooperation Council (GCC) Jassem Albudaiwi held talks on Wednesday with Dr. Raja bin Manahi Al Marzouqi, newly-appointed General Coordinator for Negotiations and Head of the Negotiating Team of the GCC, on the occasion of his appointment.

The GCC Ministerial Council had on March 22 issued a decision to appoint Al Marzouqi, Saudi Arabia’s candidate, as General Coordinator for Negotiations and Head of the Negotiating Team of the GCC.

Meeting at the GCC General Secretariat in Riyadh, Albudaiwi congratulated Al Marzouqi on his appointment, wishing him success in carrying out his duties in advancing Gulf trade negotiations in a manner that meets the aspirations of the leaders and people of the GCC.

The officials also discussed the need to seize Gulf achievements in line with the provisions of the economic agreement. They underlined the ability of GCC countries to play a major role as an economic engine through strategic partnerships and free trade negotiations with a number of countries, regional blocs, and other economic and international groups.

They also stressed the means to accelerate the pace of partnerships to help advance growth and Gulf economic integration, through plans, visions and development programs.

Al Marzouqi expressed his gratitude to Albudaiwi and Gulf foreign ministers for the confidence in appointing him as the General Coordinator for Negotiations.

Al Marzouqi had previously worked as a Chief Economic Advisor at the Saudi Ministry of Economy and Planning. He worked as a faculty member at the Prince Saud Al Faisal Institute for Diplomatic Studies, and a collaborating expert with the International Monetary Fund.

He has also held several leadership and administrative positions in the government and private sectors, as well as international and regional organizations, the most recent of which was the position of CEO of the Gulf Monetary Council.

Al Marzouqi holds a PhD in Economics from Oklahoma State University-Stillwater, a Master's degree in Applied Mathematical Economics from the University of Michigan in Ann Arbor in the United States, and a Bachelor's degree in Economics from King Saud University in Riyadh.



Morocco’s Central Bank Keeps Interest Rate Steady at 2.25%

The Moroccan Central Bank in Rabat (Reuters)
The Moroccan Central Bank in Rabat (Reuters)
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Morocco’s Central Bank Keeps Interest Rate Steady at 2.25%

The Moroccan Central Bank in Rabat (Reuters)
The Moroccan Central Bank in Rabat (Reuters)

Morocco’s Central Bank (Bank Al-Maghrib) has maintained its benchmark interest rate unchanged at 2.25%, stating that current borrowing cost levels remain consistent with inflation expectations.

In a statement issued following the quarterly meeting of its board of directors on Monday, the bank explained that the average inflation rate is expected to reach 1% in 2025, supported by a decline in food prices, before gradually rising to 1.8% in 2026.

The statement noted that the outlook for the national economy remains surrounded by a high degree of uncertainty, due to ongoing geopolitical tensions, fluctuations in global trade policies, and the volatile performance of the domestic agricultural sector.

Domestically, according to annual national accounts data released by the High Commission for Planning, the Moroccan economy grew by 3.8% in 2024, a much faster pace than indicated by the quarterly data for the same year. According to Bank Al-Maghrib’s forecasts, economic growth is expected to accelerate to 4.6% in 2025, before stabilizing at 4.4% in 2026.

The agricultural sector’s value-added is projected to rise by 5% in 2025, driven by an estimated cereal harvest of 44 million quintals, according to the Ministry of Agriculture, and by 3.2% in 2026, based on an assumed average output of 50 million quintals. As for non-agricultural sectors, supported by ongoing investment in infrastructure, they are expected to grow by approximately 4.5% in both 2025 and 2026.

Regarding external accounts, trade exchanges are expected to improve gradually over the medium term, with the direct impact of US tariffs remaining limited. Export growth is estimated at around 5.1% in 2025 and 9% in 2026, driven particularly by increased exports of phosphate and its derivatives, which are projected to reach 106.7 billion dirhams by 2026.