Morocco and Gulf states hold investment forum next May in Casablanca
Morocco-Gulf, Economics, 2/18/2000

Casablanca hosts next May the first investment and partnership forum between Morocco and the Gulf states.

The forum will seek to promote trade exchanges and consolidate partnership and investments between Morocco and the Gulf states, Moroccan Economy and Finance Minister, Fathallah Oualalou told the press in Rabat on Thursday.

The encounter will also try to diversify outlets for Moroccan exports and intensify foreign private funding to the Moroccan economy through enhancing partnership between the private sector in Morocco and the Gulf, he said.

The Moroccan employers association CGEM had said in its monthly newsletter that the forum will be an opportunity to present to potential investors concrete projects proposed by both the public and the private sectors.

Oualalou recalled that during the tour he made last year to the United Arab Emirates, Oman, Bahrain, Kuwait, Saudi Arabia and Qatar, several accords were concluded, including agreements on the encouragement, protection and guarantee of investments between Morocco and Dubai, one of the seven emirates forming the United Arab Emirates, between Morocco and Bahrain, and between Morocco and Qatar.

Several projects will be presented by Morocco during the coming forum, Oualalou said. These include nine agricultural projects worth $ 24 million, eight irrigation projects ($ 140 million), seven fisheries industry projects ($ 897 million), 12 textile and leather industry projects ($ 60 million), three garments projects ($ 10.5 million), 15 tourism projects ($ 1.8 billion) and eight drinking water projects ($ 47 million), Oualalou said.

Total Gulf investments in Morocco are estimated at around $ 1.0 billion, mainly in real estate, tourism and oil sectors.

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