Moroccan-Egyptian Business meets in Rabat to improve poor trade volume

The Moroccan-Egyptian Business council is holding its 1st meeting here to review ways of boosting trade exchanges and partnership between the two Arab states.

The council which opened proceedings on Monday is also discussing the obstacles hampering the development of trade exchanges and the possibility to set up joint ventures in fishing, maritime transports and tourism.

The Moroccan and Egyptian businessmen will likewise look into the efforts made by the two states to set up a free-trade zone.

The Moroccan and Egyptian parliaments have 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, whose trade exchanges do not exceed $ 30 Million, agreed last month to gradually remove custom duties.

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