Portugal opens Euro 100m credit lines for Portuguese investments in Morocco
Morocco-Portugal, Economics, 5/28/2005

Portugal has opened two credit lines totaling some Euro 110m to bolster Portuguese investments in Morocco, said Friday in Lisbon, Portuguese Premier, Jose Socrates Carvalho.

Quoted by the Portuguese press agency, Socrates who paid this Friday a visit to Morocco said 75 new Portuguese companies have concluded transactions with Moroccan operators and will, thus, join the 80 firms already operating in the country and employing some 24,000 persons.

Portugal is the third largest foreign investor in Morocco, with investments chiefly in motorways, airports, dams and tourist compounds.

During his visit to Morocco, aimed essentially to give a new impetus to bilateral economic cooperation with Morocco, the Portuguese head of government was received by King Mohammed VI. He also met with his Moroccan peer Driss Jettou.

Previous Stories:
  Morocco, Portugal sign package of cooperation agreements   (11/29/2004)
  Portugal to grant Moroccan operators a 100 million Euro credit line   (3/19/2004)
  Air Portugal resumes flights to Morocco in 2004   (11/19/2003)

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