Portugal opens 10 million euro credit line for Moroccan SMEs

Portugal has opened an easy 10 million Euros credit line for Moroccan and Portuguese small and medium enterprises, in a bid to increase exchanges between the two countries and promote the creation of joint ventures.

The move, decided last May during the meeting of the high level joint commission, is destined to finance exports and imports by small and medium enterprises.

The Portuguese-Moroccan chamber of commerce and industry held an information meeting on the credit line for over one hundred bankers, and public and private entrepreneurs. The Portuguese finance minister, the secretary of state to treasury and finance and the Moroccan ambassador in Lisbon were also present at the information meeting.

The Portuguese finance minister underscored that the credit line is actually a strong signal of Portugal's will to initiate a strategic option in bilateral relations and to further consolidate economic partnership and cultural and human rapprochement in the Euro-Mediterranean space.

He added that for Portugal relationships with Morocco are necessary for they help deepen inter-cultures and inter- civilizations dialogue between the two shores of the Mediterranean.