Youssoufi urges Moroccan, Indian businessmen to set up joint ventures
Morocco-India, Politics, 2/24/2000

Moroccan Premier Abderrahmane Youssoufi on Wednesday urged Moroccan and Indian businessmen to explore new partnership fields and set up joint ventures.

Moroccan and Indian businessmen must benefit from the positive evolution of Moroccan-Indian relations, which are getting closer and closer, Youssoufi told a forum jointly held by the Moroccan industrial federation (CGEM/employers' association) and the Indian Industry Confederation (IIC).

Youssoufi recalled the numerous opportunities offered to either side, especially in the realms of tourism, agribusiness, transport, information technologies and the pharmaceutical industry.

CGEM and IIC signed during the forum a memorandum of entente on the creation of a bilateral business council, that will be chaired on the Moroccan side by Mohammed Berrada, director-general of the phosphates corporation (OCP), and on the Indian side by H.H. Malgham, president and managing director of the TATA car and scooter firm.

Indian operators unanimously agreed that Youssoufi's visit to India will open new horizons for trade and economic exchange between the two countries.

Arun Bharat Ram, IIC chairman, said New Delhi, which is aware of Morocco's geographic location, sees Morocco as the most economically stable nation in the Maghreb.

Morocco's special relations with the European Union and the Maghreb countries are of paramount importance to India, he said, before voicing the belief that Moroccan and Indian industries can work together, particularly in the fields of information technologies, pharmaceuticals, equipment and industrial machinery.

For his part, Mohammed Berrada urged the two countries to pool efforts to face the growing challenges of globalization. Moroccan enterprises can serve as a springboard for Indian products to Europe, and Indian firms can do the same for Moroccan products in Asia, he said.

Youssoufi's visit to New Delhi was crowned with the conclusion of three cooperation agreements in energy and mines, communications and transport.

Previous Stories:
  India, Morocco sign cooperation agreements   (2/23/2000)
  Moroccan premier visits India Feb.20-21   (2/10/2000)
  Morocco, India examine tourism cooperation   (6/9/1999)

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