The city of Casablanca in the Kingdom of Morocco hosted the activities of the Moroccan-Saudi Economic Forum, in the presence of the Saudi Minister of Commerce, Dr. Majid Al-Qasabi, the Moroccan Minister of Industry and Trade, Riyad Mazour, and the President of the Federation of Saudi Chambers, Ajlan bin Abdulaziz Al-Ajlan, in addition to the participation of 130 Saudi and Moroccan companies, in order to advance the economic partnership between the two kingdoms, strengthen trade cooperation, and accelerate investments in the targeted sectors.
During his speech at the forum, Minister Al-Qasabi stressed the need for business owners in the two countries to agree on setting clear plans and a roadmap for the Saudi-Moroccan economic relations, announcing the harnessing of the Ministry of Commerce system to serve Moroccan investors, he noted the opportunities that Saudi Arabia and Morocco possess under the Kingdom's Vision 2030 projects, especially joint investment opportunities in Africa and Europe.
For his part, the Moroccan Minister of Trade and Industry explained that the volume of trade exchange between the Kingdom and Morocco is still modest, and the goal is to raise it to $5 billion annually in the coming years, stressing that this goal is possible in light of the huge opportunities and potentials of the two countries, he called on Saudi investors to benefit from 670 industrial projects in Morocco.
For his part, the President of the Federation of Saudi Chambers, Ajlan bin Abdulaziz Al-Ajlan, considered that the mutual visits by officials and business owners, and the agreements concluded on the economic side, helped to achieve rapid growth in trade exchange in recent years. Meanwhile, joint investments have increased significantly over the past years in various economic sectors such as industry, real estate, tourism, and agriculture.
Al-Ajlan explained that the Federation, through the Saudi-Moroccan Business Council, seeks to bring about a qualitative transformation in the economic relations between the two kingdoms by studying and analyzing commercial and investment opportunities and standing up to the competitive advantages in the Saudi and Moroccan economies with the aim of developing appropriate mechanisms and innovating effective ways to develop relations, create a trade and investment environment, and provide quality partnerships and promote economic integration among business owners.
Source (Saudi Press Agency, Edited)
