Moroccan and Italian employers sign accord on investment opportunities

Moroccan and Italian employers unions signed on Wednesday in Casablanca a cooperation accord providing for the reinforcement of trade exchange and partnership between the two sides in various sectors of common concern.

The accord, which was initialed by the General Confederation of Morocco's Enterprises (CGEM) and the Industrial Union of Rome, provides for the exchange of data on investment opportunities offered in the two countries and consolidation of joint ventures in textile, leather, electronics, automotives, industry and computing.

The Italian delegation, which represents several industrial and commercial sectors, arrived Monday in Morocco to explore the potentials of the Moroccan market and foster partnership with Moroccan businessmen, Map reported.

The delegation was received by Moroccan Finance Minister Fathallah Oualalou, as well as by minister of trade, industry and handicraft, Alami Tazi.

Talks focused on ways of boosting economic cooperation between the two countries, the investment opportunities offered in Morocco and incentives granted to foreign entrepreneurs.

Morocco is Italy's fourth trade partner. Moroccan exports to Italy, made up mainly of fertilizers, fresh fish and garments, amounted in 1997 to usd 280 million, while imports made up mostly of cars, machinery and industrial tools neared usd 390 million during the same year.