Morocco, Kuwait to set up high joint commission, diplomat
Morocco-Kuwait, Economics, 3/2/2001

Morocco and Kuwait will set up shortly a high joint commission to look after the development of economic and trade exchanges between the two states, Kuwaiti ambassador to Morocco, Souleyman Ibrahim Al Marjane announced Thursday.

Preparations for the creation of the commission are under way at the level of the two states' foreign ministers, he told the press in Rabat on the occasion his country's national day.

The agreement, setting up the commission, will be signed in April at the latest, he said.

The diplomat also announced that Moroccan economy, finance, privatization and tourism minister, Fathallah Oualalou, will visit Kuwait on March 8 for talks with Kuwaiti officials and with those of the Kuwait-based Arab Development Fund.

The Fund had extended Morocco funds worth 8.3 billion dirhams (nearly $ 830 million). Morocco is the second Arab country recipient of the Fund's financing after Syria.

Al Marjane said the Kuwaiti Central Bank deposited in the 1980's $ 200 million at the Moroccan central bank.

The diplomat voiced hope to see trade exchanges between Morocco and Kuwait promoted to match the privileged political ties between the two Arab nations. To reach this objective, he called for the holding of commercial weeks in both countries and the creation of direct sea and air routes to ease commercial transactions.

Al Marjane also lauded the position adopted by Morocco during the Gulf crisis. Such position is in line with the political ties that have always existed between the two countries, he said.

Previous Stories:
  Kuwaiti fund extends $65 million loan to Morocco   (2/22/2001)
  A new strategy for tourism promotion in Morocco   (9/15/2000)
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