"Dacia" is the exponent of Romania in Morocco

• Interview with His Royal Highness Prince Paul

Reporter: You recently visited Morocco. What was the goal of this visit?

Prince Paul: It was a private visit, on the invitation of his Royal Highness King Muhammad the VIth. The invitation came after having won the historic lawsuit in Romania by which my father's legitimacy as the son of His Highness King Carol the 2nd was acknowledged as was his status as a legal heir, after 21 years, as it had already happened in several European countries. I have had the opportunity of talking to several representatives of the government, as well as to several businessmen in Marrakech. Since an official visit to Morocco will come soon, I thought it would be a good opportunity to establish some new contacts in the business sector, and even more importantly, to find the most efficient strategy to support the development of the economic relations between Romania and Morocco, given my position as a member of the Royal family.

Reporter: What is the current state of the relationships between us and Morocco?

Prince Paul: During a number of meetings, some of the businesspeople have confessed that many business relationships go cold after being successful for a while. It would seem that one of the most frequent mistakes which foreign companies make in Morocco is that they do not provide adequate support to their local business partners after achieving the initial success. In Morocco, you can't use a marketing strategy which involves low volumes and high prices, which protects the investors' interests, but prevents the growth of the foreign product's potential to sell.

Reporter: What is Morocco like - a country which has a fascinating culture and tradition - in terms of its business climate?

Prince Paul: 1999 was a crucial year for Morocco. The enthronement of King Muhammad the 6th resulted in an economic recovery of the country. The reforms and the newly implemented measures resulted in a new approach pertaining to the business climate and investments. The legislation has been improved to attract new investors, meaning that the formalities needed for the approval of their projects have been greatly simplified. As a result, Morocco has become a favored destination for foreign investors, especially for tourism and commerce. As far as I know, France and Spain come first in that regard, followed by the countries in the Gulf region, which have seen a quick increase of their capital flows. One very interesting thing is that over these past few years a luxury real estate market has developed in Morocco. Many businesspeople, as well as world class personalities have bought villas and traditional palaces which span tens of hectares, at exorbitant prices. I have visited myself, on this occasion, one such private villa located in a residential area near Marrakech. What I find interesting is that Morocco also has the largest mall in Africa, and the major international brands are increasingly interested in entering this market.

Reporter: How important is it for Romania - an EU member country - to have an advanced and stable economic relation with Morocco?

Prince Paul: Over these past few years, the economic relations between Romania and Morocco have grown at quite a quick pace. The amount of Romanian exports to Morocco has increased over 50% in 2010 compared to 2009, and imports from this country have increased over 70%, during the same period. One day before I arrived in Morocco, in Tangiers, "Dacia" had just launched a new subsidiary, an event which was also attended by His Highness King Muhammad the 6th. His presence at such an event says a lot about the quality and importance of the economic, cultural and political relations between the two countries. And the fact that Morocco is one of the countries where "Dacia" has some of the highest sales in the entire world proves that it is a positive and beneficial relationship for both countries.

Reporter: Due to conservatism, as well as an extremely powerful religious component, Morocco also has a few particularities when it comes to the business approach. Do you think that Romanian businesspeople should be more daring in approaching this market?

Prince Paul: Many Romanian products generally answer to an industrial and cultural environment which is different from the one of Morocco. Informing and educating consumers in terms of the utility, manner of use and the qualities of the products can prove to be extremely beneficial. An important part of the success of the sales on the Moroccan market comes from knowing the way of negotiating. And the knowledge of French/perhaps Arabic is priceless, as is the knowledge of the culture of this area. At the same time, a direct and honest approach, as well as avoiding arrogance are just as important. In order to attract a Moroccan business partner, you need to have the capability and the resources to present the image of a company which is reliable, efficient, strong, capable of innovation, as well as reaching higher quality. It is obvious that "Dacia" has long passed this hurdle successfully, considering the fierce competition with the products delivered by companies in the EU. "Dacia" is the exponent of the economic relations between Romania and the Kingdom of Morocco.

Reporter: Do you feel that you visits to Morocco will help the economic relations between Romania and Morocco?

Prince Paul: An extremely important thing about business relationships in Morocco is being ready to establish personal relationships. Also, it is true that for the Moroccan business environment the presentation made by an intermediary represents a guarantee of credibility. That is why a member of the Royal family can be a credible source of recommendation for the businesspeople of Morocco.

Reporter: In your opinion, which areas could lend themselves to the development of bilateral economic relations?

Prince Paul: Tourism and trade. And to the same extent, industry and agriculture.

Reporter: Which are Morocco's strong points when it comes to attracting foreign investments?

Prinec Paul: Moroccan businesspeople choose quality business partners, for the long run. Once you enter their world, they will consider you family and treat you as such. In that relationship, there is no room for arrogance, acting high and mighty, lack of respect, doing a half-baked job, and especially acting unprofessional. Once that is out of the way, there is also the support of the government. The Moroccan investment code provides some benefits in the first years of operation, including allocating the plot of land intended for the objective which would be implemented. According to my information, for example, in Casablanca, in the economic center of Morocco, in the central area, the cost of renting an office is somewhere around 22-25 dollars/sqm. One very important thing is that the actions of the state have been directed mostly towards strengthening and modernizing the infrastructure and superstructure networks of the country, as well as towards creating the necessary conditions to allow the country's integration in the economy of the world.

Reporter: Thank you!