CASABLANCA - (September 24, 2003) This afternoon, the U.S. Trade and Development Agency (USTDA) and Lazrak Management SA, a private Moroccan development company, entered into a $344,752 grant agreement to fund a feasibility study on the establishment of an international standard convention center complex in the Casablanca metropolitan area. Mr. Wayne J. Bush, Deputy Chief of Mission at the U.S. Embassy in Rabat, signed the grant agreement on behalf of the U.S. Government. Mr. Rachid Lazrak, Chief Executive Officer of Lazrak Management SA, signed on behalf of the Grantee.

Because of the importance of tourism and related service industries to the Moroccan economy, the Government of Morocco launched a "Vision 2010" Plan in 2001 to attract ten million visitors to the country by 2010. In support of this effort, Lazrak Management has proposed building an international convention center complex. In addition to the convention facilities, the complex would include one or more hotels with affiliated commercial centers, apartments, and office space. Two locations for the convention center along the Casablanca waterfront are currently being considered, but the most likely site for the complex will be on the outskirts of the city alongside the access road to Mohammed V International Airport.

The USTDA-funded study will analyze a number of issues related to the project, such as marketing, location and accessibility, ancillary development, and economic and financial requirements. When completed, the study will provide Lazrak Management with a comprehensive business plan to further develop the project.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. USTDA's strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

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