Moroccan business delegation explores investment opportunities in Iraq
Iraq-Morocco, Economics, 1/16/2002

The Moroccan business delegation which started Monday a three-day visit to Iraq held a series of meetings with Iraqi officials on investment opportunities in Iraq and on ways of reactivating partnership between the two countries.

The Moroccan delegation, led by secretary of state for foreign trade, Abdelkrim Ben Atiq, thus conferred with Iraqi-Vice-President, Taha Yassine Ramadane, with the ministers of trade, finance, and the interior as well as with the director of the electricity utility.

The Iraqi officials said the Iraqi leadership gives priority in its economic and investment cooperation to Arab countries and endeavors to enhance this cooperation.

The Iraqi Vice-President said this option will be materialized through the projected signing of free trade areas agreements with several Arab countries and the dismantling of customs barriers.

The Moroccan delegation members, representing the sectors of construction, urbanism and basic infrastructure, voiced determination to promote a genuine partnership with Iraq. The Iraqi interlocutors expressed readiness to extend all necessary assistance to Moroccan businessmen wishing to do business in Iraq and surveyed the sectors that were damaged in the 1990 war and that might interest Moroccan investors.

The two sides convened to hold technical meetings between Moroccan businessmen and executives of concerned Iraqi ministerial departments to further explore investment opportunities.

Between October 2000 and May 2001, Morocco sold Iraq US$ 55 million worth of products, in the frame of the oil-for-food program.

The Moroccan delegation had renewed upon arrival in Baghdad Morocco's call for the lifting of the embargo imposed on Iraq for more than 11 years.

Previous Stories:
  Moroccan businessmen visit Iraq   (1/15/2002)
  Moroccan business delegation in Baghdad   (1/14/2002)
  Morocco, Iraq sign $ 150 million-worth of exports contracts   (4/6/2001)

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