Moroccan - Saudi businessmen study obstacles to trade
Morocco-Saudi Arabia, Economics, 1/23/2001

The Moroccan-Saudi business council held a meeting in Rabat Monday to study obstacles hampering economic and commercial exchanges between the two nations.

Participants deplored high transportation costs and custom duties and the weakness of contacts between Moroccan and Saudi businessmen as a major reason behind the low level of trade exchanges.

Morocco and Saudi Arabia set up the business council in 1999 to intensify cooperation and partnership between Morocco and Saudi private operators.

The council was convened prior to a meeting of the Moroccan-Saudi Joint Commission, which will open meetings this Tuesday in Rabat.

The commission's meeting will be co-chaired by Moroccan foreign affairs and cooperation minister, Mohamed Benaissa, and Saudi peer, Prince Saoud Al-Faycal.

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 Saudi kingdom 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 to boosting economic relations between the two countries, deemed as not fitting the excellent political ties. It holds an annual meeting alternately in Rabat and Riyadh. These meetings were however suspended for six years, between 1992 and 1998.

Previous Stories:
  Moroccan - Saudi Joint Commission Meets   (1/22/2001)
  Moroccan - Saudi talks on trade exchanges in Riyadh   (10/16/2000)
  Over 4 million foreign tourists expected in Morocco by 2004, minister   (7/17/2000)

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