Morocco, Romania sign economic convention

Morocco and Romania signed last Monday a new convention on economic and technical cooperation that replaces the accords signed in 1970 and 1987.

The convention was initialed on the sidelines of a three-day visit a Moroccan business delegation, led by minister of industry, trade and handicraft, Alami Tazi, paid to Bucharest.The Moroccan and Romanian centers for exports promotion on their part signed a cooperation accord as well as a joint program of action.

Romanian secretary of state for foreign affairs Ion Pascu said at a meeting with Alami Tazi that his country is determined to upgrade its cooperation with Morocco, part of its strategy to promote relations with the Arab world and to be integrated in the euro-Atlantic space.

The delegation held an information meeting with Romanian economic operators to brief them on Morocco's economy and investment opportunities and attended on Tuesday the dedication ceremony of the Bucharest international fair where a stand is displaying Moroccan handicraft items.

Trade exchanges between Morocco and Romania were worth $ 33.9 million last year, with Morocco's imports--wood and wheat-- standing at $ 30 million. The kingdom's exports to the European country are mainly made of phosphates.