Morocco, Pakistan sign five agreements

Morocco and Pakistan have signed in Islamabad five cooperation agreements meant to enhance relations between the two countries in various areas.

Morocco and Pakistan have thus signed two agreements setting up a joint cooperation commission and a commission for political consultation between the two countries' foreign departments.

The three other agreements are related to the promotion and protection of investments, to cooperation in the sector of tourism, and to cooperation in the sector of merchant navy.

The signing ceremony was chaired by visiting Moroccan Prime Minister, Abderrahmane Youssoufi, and the chief executive of Pakistan, General Pervez Musharraf.

Morocco and Pakistan are bound by several cooperation accords, including a trade agreement that was signed in 1962, but the volume of their exchanges is still rather low.

This low volume of exchanges was actually deplored by Moroccan and Pakistani businessmen who held work sessions here Monday.

The two sides explored ways of promoting a fruitful partnership between Morocco and Pakistan, mainly in the sectors of textile and marketing joint ventures.

The joint ventures will enable Pakistan to conquer markets in sub-Saharan Africa and in Europe and will enable Morocco to promote its exports to Pakistan, as well as to North America and Asia.

The chambers of commerce of Islamabad and of Rabat are to sign this Tuesday a partnership accord.

Pakistan ranks 68th among Morocco's suppliers and 32d among its clients. It imports from the kingdom natural and chemical fertilizers, phosphates, pneumatics and lead. Morocco's imports from the Asian country are made up of fabric, synthetic fibers, cotton, leather, skins and cotton thread.

In 1999, the global volume of exchanges was worth some 500 million DH (about $ 45 million).