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.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

Niece of Iran's Supreme Leader urges world to cut ties with Tehran over unrest - online video
Japan PM Kishida's approval hits new low after ministers resign
Thousands throng Anime Festival in Singapore after long COVID hiatus
Russia to bar foreigners from using its surrogate mothers - lawmaker
Zelle users have been scammed out of thousands. How to avoid being targeted on money apps
Private chef stuns TikTok with US$3,500 grocery bill for 36 items. ‘Grossly out of touch’
Snowy Kyiv grapples with power outages amid fears of new attacks
Opinion: How Sam Bankman-Fried exploited the ‘effective altruism’�fad to get rich and con the world
Robot pets help these US seniors make friends
NYPD officers, bystander save man who fell on subway tracks

Others Also Read