Morocco and Bulgaria to set up free trade zone

Morocco and Bulgaria signed Wednesday in Rabat a memorandum of understanding for the establishment of a free-trade zone between the two countries.

The memo was initialed by visiting Bulgarian Minister of Trade and Tourism Valentin Vassilev and Moroccan Minister of Industry and Commerce Alami Tazi.

The two sides also signed a joint declaration urging Moroccan and Bulgarian entrepreneurs to foster contacts and partnership to contribute to increasing trade exchange and increasing economic cooperation between the two countries.

Morocco and Bulgaria also agreed on another cooperation deal in the field of tourism. The accord provides for the exchange of data on tourism regulations, investment and business opportunities offered in either country. It also calls for coordination between the two countries' travel agencies and exchange of expertise in hotel trade and related sectors.

The Bulgarian minister arrived Wednesday in Morocco accompanied by a business delegation to give new momentum to partnership between the two countries in all sectors of common concern.