Rabat and Budapest conclude package of agreements
Morocco-Hungary, Politics, 10/13/1998

Morocco and Hungary signed in Budapest Monday a package of cooperation agreements, providing mainly for the creation of a free trade area.

The agreements were initialled by Hungarian Prime Minister Victor Orban and Moroccan counterpart, Abderrahmane Youssoufi who is on a work visit in Hungary.

The two countries also signed an agreement of cooperation in tourism, defining measures to attract more Hungarian tourists to Morocco. Some 3,000 Hungarian nationals visited Morocco in 1997.

The third agreement was signed by Morocco's BMCE bank and Eximbank, a Hungarian state bank, for the opening of a $ 25 million-worth credit line to finance trade between the two countries.

A fourth agreement is expected between Moroccan and Hungarian exporters associations to facilitate activities of exporters.

The two prime ministers who voiced satisfaction over the excellent political relations are planning a series of other measures to develop political and economic cooperation. They will convene the joint commission, which last met in 1989-1990, cancel the entry visa requirement for Hungarian nationals, cancel Hungary's visa tax for Moroccans and examine other measures to ease human flows between the two countries.

Previous Stories:
  Morocco's premier in Hungary for stronger economic ties   (10/12/1998)
  Tangiers to have leading role in Morocco's openness to international arena   (9/21/1998)
  Interview: A Morrocan businessman who decided to take the initiative to help the education system   (9/16/1998)

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