Moroccan businessmen delegation in India

A Moroccan businessmen delegation will visit India February 26 through March 1 to debate with Indian peers means to upgrade relations between the Moroccan and Indian private operators.

During their stay, organized on the occasion of the official visit King Mohammed VI will pay to India, the Moroccan party will present business opportunities in several sectors, including textile, fisheries industry, pharmaceuticals, information technologies and banking.

The visit is also an opportunity to activate cooperation accords conclude by the Moroccan industrial federation (CGEM) and the Federation of Indian Industries, CGEM said in a release.

The Moroccan-Indian Business Council, chaired on the Moroccan side by Mohamed Berrada, Director-General of the phosphates corporation (OCP), will hold meetings with Indian investors to explore ways to make of Morocco a privileged partner in the region.

Except for phosphates, trade exchanges between Morocco and India are still short of the aspirations of officials and economic operators, CGEM said.

In 2000, India was Morocco's 10th client and 31st supplier. Morocco's imports from the Indian sub-continent are made mainly of cotton, synthetic fibers, piston engines, unprocessed glass and non-finished glass products. Moroccan exports to this country mainly include phosphates and phosphoric acid.

OCP is bound to Indian BIRLA group by an important joint venture "Indo-Maroc Phosphore" worth $ 230 million. The venture is India's major investment abroad.

Indian Oberoi Hotels is also installed in Morocco with a first investment of $ 100 million for the construction of luxury hotels in the Kingdom.