Moroccan-Portuguese high commission meets

The Moroccan-Portuguese high commission to be held under the chairmanship of Moroccan Prime Minister Abderrahmane Youssoufi and Portuguese peer Antonio Guterres opens this Monday its 5th session in Tangiers (Northern Morocco) to look into ways of boosting trade exchanges and economic cooperation between the two countries.

The high commission will also review the evolution of political, commercial and cultural relations and identify sectors where further joint actions are needed.

There are large joint business opportunities offered for both Morocco and Portugal in the fields of industry, tourism, agriculture, fisheries and scientific research.

During its latest session held in Lisbon in 1998, the Moroccan-Portuguese commission had set up a business council to enhance contacts between the two countries's entrepreneurs and increase the flow of investment to Morocco.

Portugal extended the north African nation two loans worth $ 200 Mln to enhance partnership between the two countries in various sectors.

Over thirty-two Portuguese firms are installed in Morocco operating in various industrial sectors such as irrigation tools, electric equipment, transports, construction, banking, shoes, chemicals, plastics, garments and telecoms.

Telecom-Portugal is one of firms forming the international consortium which won the $ 1.08 billion contract for building Morocco's 2nd mobile phone network.

The Consortium which is led by Spanish Telefonica also includes Moroccan BMCE bank and Afriquia Gas-oil distributor.