First Omani - Moroccan business council meeting in May

The Omani-Moroccan business council will meet next May in Morocco, in parallel to the Arab gulf investment and partnership forum slated in Casablanca next May 2-4. A bilateral investment agreement will be updated during the meeting.

This was decided during a meeting in Oman between a Moroccan economic mission, currently touring arab gulf countries, and a group of Omani businessmen.

The delegation also reviewed with the Omani finance and economy minister bilateral economic cooperation and deplored that trade and investments remain below the two Arab states' aspirations and good political relations. The two sides also stressed that private economic operators of the two countries ought to seize existing economic opportunities.

A special focus was laid on maritime transport, the role of banks and the need for the two countries to sign a non-double taxation and investment protection agreement. The possibility to sign such an agreement was discussed in February 99 during a visit to Oman by Moroccan finance and economy minister, Fathallah Oualalou.