Asia

Morocco, Saudi Arabia vow to boost trade cooperation

There are various investment opportunities in both countries, Mezzour added, urging businessmen to give new impetus to bilateral trade through various projects

Rabat: Morocco and Saudi Arabia have pledged to boost trade and economic cooperation at a bilateral economic forum held in Casablanca, the commercial hub city of Morocco.

Morocco aims to increase its trade with Saudi Arabia to $5 billion in the next five years from the current amount of $1.7 billion, said Moroccan Minister of Industry and Trade Ryad Mezzour on Tuesday at Morocco-Saudi Arabia Economic Forum, also attended by Saudi Minister of Commerce Majid bin Abdullah Al-Qasabi.

There are various investment opportunities in both countries, Mezzour added, urging businessmen to give new impetus to bilateral trade through various projects, Xinhua news agency reported.

Al-Qasabi, for his part, said the current trade volumes are not up to the ambitions of the two countries, adding Saudi Arabia will inaugurate a new trade representation office of Saudi Arabia in Casablanca to help the private sector overcome difficulties and attract new investments.

Source
IANS

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