Moroccan official meets businessmen in London; Hain to visit Rabat

Moroccan Minister of Trade, Industry and Handicraft Alami Tazi held meetings in London Tuesday with heads of several British enterprises.

Talks covered investment opportunities existing in Morocco and means to upgrade partnership and joint ventures between the two countries economic operators.

Tazi who is visiting London at the head of a delegation of industrialists dedicated on Monday the Moroccan textile and garments exhibition "VETMA 2000."

The textile industry in Morocco stands for 8% of the GDP and provides more than 117,000 jobs. Nearly 89% of the sector's production is exported, earning the country about $900 million.

Trade exchange between Morocco and Great Britain are on the rise and were worth $1.21 billion in 1999. The trade balance is currently showing a surplus to the advantage of Morocco, which has become Great Britain's first North African trade partner.

Meanwhile, UK Foreign Office Secretary of State Peter Hain is expected in Rabat on May 8 on a working visit to Morocco at the head of a delegation of British entrepreneurs.

Hain conferred Monday in London with visiting Minister of Trade, Industry and Handicraft Alami Tazi on means to boost economic relations between Morocco and the United Kingdom.

The British side voiced intent to set up industrial depots in Morocco, said a press-release of the Moroccan department.