Morocco, Bahrain finalize accord on non-double taxation

Morocco and Bahrain have finalized a draft accord on non-double taxation and income tax evasion.

The accord seeks to consolidate economic and financial ties between the two states and to upgrade investments, a statement by the Moroccan Ministry of Economy and Finance said.

The draft was finalized at negotiations held in Rabat at the end of March.

Moroccan-Bahraini cooperation was discussed last week in Rabat by visiting Bahraini Minister of National Economy and Finance Abdallah Hassan Saif and several Moroccan officials.

The two sides stressed the need to enhance investments and partnership and discussed the role Bahrain can play as a platform to promote Moroccan exports in the Gulf region.

The Bahraini official is visiting Morocco to take part in the meetings of Arab financial institutions held in Fez this April 11-12.

Last year, Morocco and Bahrain initialed an accord on the guarantee and protection of investments and the Casablanca stock exchange and the Bahraini financial market concluded a memorandum of understanding that provides for the consolidation of cooperation between the two countries' financial markets, the encouragement of investments, and exchange of experience.