Moroccan economy minister holds talks with UAE officials
Morocco-United Arab Emirates, Economics, 2/9/1999

Moroccan minister of economy and finance, Fathallah Oualalou, who is visiting the United Arab Emirates (UAE) at the head of a large Moroccan delegation, held talks on Monday with several UAE officials, including vice-president of the ministers' council, Sheikh Sultan Ibn Zayed Al-Nahyan.

Talks covered means of consolidating economic cooperation to raise it to the level of the excellent political relations binding Morocco and the UAE.

Oualalou on the occasion hailed the role played by the UAE President Sheikh Zayed who spares no effort to cement Arab ranks and enable the Arab states to take up the challenges thrown at it.

Oualalou who is visiting the UAE part of a tour in the six gulf countries forming the Gulf Cooperation Council (GCC) said all the components of the Moroccan people are eager to participate in consolidating inter-Arab cooperation and facing up the world juncture challenges, and especially globalization.

The reactivation of joint Arab action, especially at the economic level, will be fundamental to the consolidation of Arab solidarity, Oualalou said.

The setting up of a free trade area between the two states was also discussed between Oualalou and his UAE interlocutors. The activities of the Abu Dhabi-based Arab Monetary Fund and of the Morocco-UAE Development company were reviewed.

The visit to the UAE of the 68-member Moroccan delegation, that comprises managers of state-owned and private enterprises and ministerial departments officials, will be crowned by the signing of an agreement on non-double taxation and fight against tax evasion and an accord on the encouragement, protection and guarantee of investments.

The chambers of trade, industry and services of Casablanca and Abu Dhabi signed an accord under which the signatories pledge to lay the bases of a sound and diversified cooperation in trade, industry and tourism.

The accord also provides for the exchange of information on markets evolution and stresses the need to give incentives to investments and to upgrade trade exchanges. It stipulates the organization of exhibitions and trade weeks and the exchange of visits between trade delegations.

The delegation to visit later on Oman, Bahrain, Kuwait, Saudi Arabia and Qatar will try to encourage Gulf economic operators to invest in Morocco and will expound the advantages provided by the Moroccan new code of investments to foreign investors.

Morocco imports from the region are mainly made up of oil, plastic and chemical products while exports consist of citrus fruits, canned food, shoes and ready-to-wear garments.

Previous Stories:
  Moroccan economy minister holds talks with UAE officials   (2/9/1999)
  Large Moroccan delegation tours Gulf states to start economic cooperation   (2/6/1999)
  Large Moroccan delegation tours Gulf states to start economic cooperation   (2/6/1999)
  Morocco expects boosting of Gulf states' investments   (2/4/1999)
  Moroccan delegation to tour Gulf states next month   (1/22/1999)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search