Kuwaiti trade minister starts talks with Moroccan officials
Morocco-Kuwait, Economics, 4/19/1999

Kuwaiti minister of trade and industry, Hisham Suleiman Al-Outaibi, who is on a visit to Morocco, held talks in Rabat on Saturday with Moroccan minister of economy and finance, Fathallah Oualalou, on means to energize trade exchanges between the two states.

Talks also covered ways of boosting Kuwaiti investments in Morocco and the contribution of Kuwaiti financial institutions to several Moroccan projects.

Al-Outaibi told KUNA after the meeting that he discussed with Oualalou means to bolster trade and investment cooperation as well as the Morocco-European Union accords and how Kuwaiti investors could use these accords to enter the european market.

He said Morocco provides many investment opportunities, mainly in the hotel industry, real estate, fishing and food industry.

The kuwaiti official who will equally confer with the Moroccan premier Abderrahmane Youssoufi and with several other senior officials expressed hope that his talks in Morocco would boost trade exchanges and create common grounds to establish a business council.

The setting up of a joint businessmen council was discussed last February, when a large Moroccan delegation led by Oualalou paid a visit to Kuwait, part of a Gulf tour.

Moroccan-Kuwaiti talks had covered means of upgrading trade exchanges through tax exemptions and the possibility to re-launch air links between the two countries to promote tourism.

Oualalou had on the occasion invited Kuwaiti businessmen to seize the investment opportunities offered by Morocco and to benefit from the advantages granted to foreign investors.

The volume of Kuwaiti investments in Morocco is very limited. Kuwaiti investments are successful but they are below the quality of political ties, Oualalou had then said.

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

Previous Stories:
  Kuwaiti trade minister arrives in Morocco   (4/17/1999)
  Kuwait receives Moroccan economic delegation   (2/16/1999)
  King Hassan meets Kuwaiti fund chief   (12/15/1998)

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