Ambassador Omar Zniber, Morocco's Permanent Representative to the UN-Geneva and the World Trade Organization (WTO), stressed on Wednesday in Geneva the importance of “a multilateral process” to support the flow of remittances from the African diaspora.
Mr. Zniber, who chaired a panel discussion organized by Morocco's Permanent Mission to the UN in Geneva as part of the WTO Public Forum, said that the Kingdom was proposing "a multilateral process, involving international organizations such as the WTO, the World Bank, the International Labor Organization (ILO), and the International Organization for Migration (IOM)."
The aim is to "conduct an exhaustive reflection on the levers and measures that can sustain the dynamics of remittance flows, overcome the low levels of financial inclusion of the African diaspora, guarantee decent work for all migrants, and accelerate efforts to reduce the associated costs, with a view to aligning with the 2030 Sustainable Development Goals and Objective 20 of the Global Compact for Safe, Orderly, and Regular Migration," the diplomat explained.
For Mr. Zniber, the organization of this high-level panel under the theme "Migrant remittances, inclusive trade, and development" reflects the interest shown by the King in the migration issue.
Migrant workers are a driving force for human development and economic growth, as evidenced by the 650% increase in international remittances between 2000 and 2022, from US$128 billion to US$831 billion. Of these US$831 billion in remittances, US$647 billion went to low- and middle-income countries.
Nevertheless, reducing the cost of remittances is a major challenge for many economies in developing and least-developed countries.
