Kuwait interested in Morocco's privatization program
Kuwait-Morocco, Economics, 4/26/1999

Kuwait is ready to invest in Morocco's privatization program and in the most important economic sectors, said Kuwaiti Minister of Trade and Industry upon return home after a several-day working visit to Morocco.

In a statement to Kuwaiti news agency, Kuna, Hisham Sulaimane Al-Otaibi said Morocco offers great business and investment opportunities in various industrial and commercial sectors.

He also affirmed that the minutes he signed with Moroccan peer, Alami Tazi, provide for the setting up of a common strategy to level up trade exchanges to over 50 Million Kuwaiti dinars in the few coming years.

To reach this goal, the two countries, he said, pledged to undertake all necessary moves to facilitate contacts between Moroccan and Kuwaiti entrepreneurs, set up a joint trade chamber and enhance air links.

The two countries also agreed to hold joint commercial events, diversify exports and participate actively in the free-trade zones launched in both Morocco and Kuwait.

The Kuwaiti official, who visited Morocco last week, had conferred with several Moroccan Cabinet members on ways of promoting trade exchange and partnership between the two Arab countries in various industrial and commercial sectors.

The Kuwaiti minister and his accompanying delegation showed interest in Morocco's privatization program as well as in the sectors of tourism, agribusiness, textiles, fisheries and housing.

Kuwait is among the major trade partners of Morocco in the Gulf region. Morocco's exports to the Gulf countries consist mostly of phosphates, fresh food, canned fish and ready-to-wear garments, while imports are dominated by oil, plastic and chemical products.

Previous Stories:
  Moroccan premier calls for promoting trade with Kuwait   (4/21/1999)
  Moroccan trade minister meets Kuwaiti peer   (4/20/1999)
  Kuwaiti - Tunisian economic talks   (4/12/1999)
  Kuwait receives Moroccan economic delegation   (2/16/1999)

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