Morocco, Saudi Arabia vow to boost trade cooperation


RABAT, Oct. 4 (Xinhua) -- Morocco and Saudi Arabia pledged on Tuesday 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 U.S. dollars in the next five years from the current amount of 1.7 billion dollars, said Moroccan Minister of Industry and Trade Ryad Mezzour 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.

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.

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