Saudi Arabia receives prominent Moroccan economic delegation

The 68-member Moroccan delegation which is touring the six countries forming the Gulf Cooperation Council (GCC) arrived in Riyadh on Tuesday for talks with Saudi officials and economic operators on means of enhancing bilateral cooperation, especially in economic matters.

Head of the delegation, Minister of Economy and Finance, Fathallah Oualalou, will confer with several Saudi officials, including Crown Prince Abdullah bin Abdul Aziz and Saudi Minister of Finance and Economy Ibrahim Al-Asaf.

Oualalou is scheduled to meet with the director of the Jeddah-based Islamic Development Bank, Ahmed Mohammed Ali, to discuss the bank's investment in Moroccan development projects.

Oualalou's accompanying delegation, that comprises managers of public and private enterprises and government officials, will hold meetings with the executives of the chambers of trade of Riyadh and Jeddah and with saudi economic operators to explore new cooperation and partnership opportunities.

The recently set up Saudi-Moroccan business council will also hold its first meeting in Riyadh during this visit.

In 1997, trade exchange between Morocco and Saudi Arabia was estimated at about $600 million.