Moroccan official calls for more Austrian investments
Morocco-Austria, Economics, 11/4/1998

Moroccan Minister of Industry, Trade and Handicraft Alami Tazi called on Austrian investors to conduct business in Morocco by creating enterprises and concluding partnership agreements.

The minister, who conferred on Tuesday with Austria's ambassador in Rabat, recalled that the joint partnership declaration signed in 1996 in Vienna provides for upgrading economic relations between the two counties and for the creation of a business partnership council.

He added that in 1997 Austrian investments in Morocco remained weak, while trade exchange did not exceed $31 million. He stated that this situation is surprising in view of Austria's increasing economic dynamism and the potentials of Morocco's trade and business perspectives.

The minister also called Austria, which is currently holding the European Union's rotating chairmanship, to intervene with the EU for more active, flexible and sustained support in upgrading the competitiveness of Moroccan enterprises and developing infrastructure and foreign investment.

The Austrian ambassador said his country closely follows Morocco's efforts to improve its production sector and economy, recalling that Vienna which disbursed in five years around 2 billion dirhams in the EU's MEDA program is keen on seeing this program achieve its goals.

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