Moroccan premier ends Hungary visit with trade agreements signed

Moroccan prime minister, Abderrahmane Youssoufi, ended Wednesday a three day-work visit to Hungary at the invitation of Hungarian peer, Victor Orban.

During the visit, the first ever paid by an Arab or African head of government since the political changes in Hungary, a package of agreements were signed providing mainly for the creation of a free trade area and measures to increase human flows between the two countries.

Morocco's "BMCE" bank and Eximbank, a Hungarian state bank, also signed an accord for the opening of a $ 25 million-worth credit line to finance trade between the two countries.

Trade exchanges between the two countries, which have always been weak, dropped substantially in the beginning of the 1980s to stand at $ 15 million, including 10 million in favor of Hungary. The drop is imputed to the deep structural reforms operated in the central European country following the shift to market economy.

The Hungarian president is expected to visit Morocco next January.