India, Morocco agree to raise bilateral trade to over $1 billion

India and Morocco have agreed to raise bilateral trade turnover to over one billion dollar from the current level of around 450 million dollars by diversifying trade, Indian junior Commerce and Industry minister Omar Abdullah said.

The Indian news agency PTI quoted the official as saying at the first meeting of the India-Morocco Joint Economic Council here Tuesday, India was keen to use Morocco's strategic geographical location to enhance trade in three directions -- access to the European Union Markets, sub-Saharan Africa and the Arab world.

The Minister asked the Joint Economic Council to launch major initiatives to increase export of Indian goods toMorocco to at least 150 million dollars by the end of 2001 from the present export level of 29 million dollars.

He said tourism and hospitality sector had high potential in increasing trade ties between the two nations.

The meeting identified cooperation in areas like Information Technology, pharmaceuticals, engineering products, textiles and leather, tourism, fishing and agro-industries and plastic and industrial goods, an official release said here.

The meeting was attended some officials who were part of the official delegation accompanying King Mohammed VI who paid an official visit to New Delhi feb.26 through 28.