Italy to swap $100 million Moroccan debt in investments

Italy has decided to swap $100 million in debts owed by Morocco into investments by Italian small and medium-sized enterprises, said the chairman of the Arab-Italian Chamber of Commerce, Sergio Mariani.

During a meeting between Moroccan and Italian business operators, Mariani underlined the importance of Italian small and medium sized enterprises as an example to be followed by Moroccan ones.

Italy is Morocco's 3rd trade partner, behind France and Spain. In 1998, Moroccan imports from Italy totalled $558 million, accounting for 6.3% of Morocco's total imports while exports reached $235 million, 5.2% of Moroccan exports.