Morocco, France sign agreements for support of SMI modernization

Morocco and France signed in Rabat on Wednesday a package of agreements meant to support and modernize Moroccan small and medium-sized enterprises.

The two countries initialed an agreement providing for cooperation in supporting SMI's, signed a convention instituting partnership between the French department of SMI's and the Moroccan agency for enterprise creation, and signed another declaration of intent for the enforcement next July of the law on price and competition liberalization.

A convention of cooperation between the Young Enterprise center of Casablanca, was also concluded between the Moroccan ministry of social economy, the French Chamber of commerce and industry and Morocco's bank "BMCI."

The agreements signed during a visit by French secretary of state for small and medium sized enterprises- Francois Patriat- also include a framework agreement meant to develop and modernize the trade sector in Morocco.

The documents are meant to promote business relations between Moroccan and French enterprises, increase French financial bodies' financing and support to the Moroccan enterprises and bring French assistance to the training of officials in charge of enforcing the price and competition liberalization law. They also provide for encouraging the conclusion of agreements between the two countries' public and private institutions, organizations and enterprises.

The French official is visiting Morocco to prepare for the high joint cooperation commission slated for next May in Paris.