Moroccan-Egyptian Business Council meets next month

The Moroccan-Egyptian Business council will meet here next February 2-3 to review ways of boosting trade exchanges and partnership between the two arab states.

The council will also assess joint past actions and identify the priority sectors needing further coordination and prospecting.

The obstacles hampering the development of trade exchanges, the creation of joint ventures in fishing, maritime transports and tourism as well as the efforts made to set up a free-trade zone will also be discussed by the two countries entrepreneurs.

The Moroccan and Egyptian parliaments approved the free-trade zone accord sealed last May in Cairo during the 2nd meeting of the Moroccan-Egyptian High cooperation commission, which convened under the chairmanship of King Hassan II and President Husni Mubarak.

The Moroccan-Egyptian business council will submit its recommendations and proposals to give a momentum to bilateral cooperation to the joint high cooperation commission to meet in Morocco next Spring.

Morocco and Egypt agreed last month to suppress gradually custom duties reaching 25 % and lower to 22 % taxes exceeding 25 % percent.

Besides Egypt, Morocco has signed free-trade accords with several arab countries to prepare the grounds for the creation of the common Arab market.