Moroccan - Saudi Joint Commission Meets
Saudi Arabia-Morocco, Economics, 1/22/2001
Morocco and Saudi Arabia will start on Tuesday in Rabat the 7th session of their joint commission to debate means to upgrade bilateral economic and commercial cooperation.
The meeting will be co-chaired by Moroccan foreign affairs and cooperation minister, Mohamed Benaissa, and Saudi peer, Prince Saoud Al-Faysal.
Trade between the two countries totaled $ 1. 83 billion in 1999, with Moroccan exports to Saudi Arabia amounting to $ 29.6 million.
Morocco's imports from Saudi Arabia consist of oil products, sulfur, chemical and plastic products as well as fiber optic and electric equipment, while exports to the Arab nation are made up mainly of phosphoric acid, canned fish, ready to wear garments, citrus fruits, wood and leather products.
The Joint commission was set with a view boosting economic relations between the two countries, deemed as not fitting the excellent political ties. It meets annually in Rabat and Riyadh alternately, but its meetings were suspended during six years, between 1992 and 1998.
Bilateral trade is hampered mainly by the high transportation costs, due to the lack of a direct sea link and submission of products to customs duties. The lack of information on either country's economic and commercial potential is another obstacle that the two Arab kingdoms have to overcome to develop their exchanges.
In this connection, Morocco and Saudi Arabia set up in 1999 a business council, which strives to intensify cooperation and partnership between Morocco and Saudi private operators.
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