Bahrain and Morocco initial accord on guarantee and protection of investments

Bahrain and Morocco have initialed an accord on the guarantee and protection of investments.

The accord was initialed by Bahraini Minister of Finance, Ibrahim Abdelkrim and Moroccan Minister of Economy and Finance Fathallah Oualalou, who is currently touring the six member states of the Gulf Cooperation Council.

The two sides stressed the importance of the accord in upgrading economic cooperation.

The visit to Bahrain, third leg of a Gulf tour that already took the Moroccan delegation to the United Arab Emirates and Oman, was also marked by the signing of a cooperation agreement between the Casablanca and Bahrain chambers of commerce and industry.

The agreement provides for the consolidation of relations between the two states' businessmen and for encouraging joint ventures. It also provides for the exchange of information, studies and statistics on economic issues and for lowering the obstacles hampering trade exchange.

During the visit, Oualalou and his accompanying delegation were received by Sheikh Issa Ben Salman al-Khalifa, ruler of Bahrain, who hailed on the occasion the excellent relations of friendship existing between his country and Morocco.

The two states have converging standpoints on Arab and international issues, he said, expressing hope that bilateral cooperation will be enhanced in all areas.

Oualalou conferred with several members of the Bahraini Cabinet on means of upgrading economic cooperation and expounded the investment opportunities existing in Morocco.