Moroccan- Hungarian business council set up

Morocco and Hungary set up on Wednesday a business council that will promote trade relations and establish a mutually advantageous economic cooperation.

The council was set up by the Moroccan employers' association "La Confederation Generale des Entreprises du Maroc" and Hungary's Chamber of commerce and Industry.

Hungarian Prime Minister, Viktor Orban, who started Tuesday a three-day official visit to Morocco, the CGEM chairman, Abderrahim Lahjouji, and several Hungarian and Moroccan businessmen attended the signing ceremony.

The council will endeavor to ease procedures for economic operators and investors, increase the exchange of information on trade, economy, investments and legislation, and explore investment and partnership opportunities in both countries.

The two sides underlined that thanks to its geographic location and dynamic economy, Hungary can be a very interesting platform for Morocco to conquer central and Eastern Europe. Likewise, Morocco can be for Hungary a gate to the Maghreb and to the South Mediterranean region.

Morocco's imports from Hungary are mainly made up of wheat, paraffin, wool, chemical and plastic products, synthetic fibers, bulbs and electric tubes. Exports to the European country consist of fish and canned food.