Morocco and Egypt sign package of agreements; joint stock market rules
Egypt-Morocco, Economics, 1/15/2004

Egypt's president Hosni Mubarak and Morocco's King Mohammed VI and chaired yesterday the signing of a package of cooperation agreements, concluded at the end of the high joint commission.

The agreements provide for cooperation in judiciary realms, Waqfs (Islamic endowments) and Islamic affairs, tourism and housing and urban planning. Another accord on electricity was inked.

Other agreements deal with cooperation between the two Arab states' laboratories of accreditation and mutual recognition of industrial products quality control.

The two Arab states further agreed on executive cooperation programs in environment protection, and in cultural, scientific and information fields.

The Moroccan and Egyptian news agencies, respectively MAP and MENA, are scheduled to ink an accord on Thursday.

The Moroccan and Egyptian stock markets inked on Wednesday a five-year memorandum of understanding designed to consolidate cooperation between the two financial markets.

The MoU provides for measures to improve the competitiveness of two financial markets, attract foreign and local investments and consolidate bond issuing and circulation both bilaterally and at the level of the Arab stock market union.

The Casablanca stock market president and the Cairo and Alexandria stock markets will be exchanging expertise in order to boost the financial markets and support economic development. The document also provides for the possibility for the two bourses to adopt joint rules for listing, bond circulation and payment of transactions conducted in the three financial markets.

The MoU was signed in the fringes of the Moroccan-Egyptian high joint commission 5th session held in Cairo under the chairmanship of King Mohammed VI and Egyptian president, Husni Moubarak. (MAP)SH

Previous Stories:
  King Mohammed in Egypt Today   (1/13/2004)
  Mubarak, King Mohammed VI co- chair Higher Egyptian- Moroccan Joint Committee meetings   (1/10/2004)
  Mubarak, King Mohammed co-chair higher joint committee saturday   (1/5/2004)
  Al Ahram Economics: Morocco-Egypt business council to meet end of November   (11/6/2003)
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