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World


Qatar, Morocco eye new investment opportunities

Doha, Oct 10 (UNI) The Qatar Chamber on Wednesday met a delegation of Moroccan Association of Exporters, looking for ways to strengthen joint cooperation and build upon new opportunities for investment in both countries in a variety of sectors, including agriculture, food, information technology, transport, industry and mining.
The private sectors of the two countries have strong cooperation relations in many fields, First Vice Chairman of Qatar's Chamber of Commerce Mohammed Bin Ahmed Bin Towar said.
Mr Bin Towar stressed the important role played by the Qatari-Moroccan High Joint Committee in enhancing and developing these relations at various levels and fields, referring to the previous meeting held last March in Rabat, which witnessed the signing of a number of agreements and memorandums of understanding between the governments of the two countries, Qatar News Agency reported.
The agreements include one on industrial cooperation, a Memorandum of Understanding on the establishment of a joint ministerial committee, and a Memorandum of Understanding for cooperation in the agricultural field.
The agreements will contribute to expanding in new horizons for cooperation between Qatari and Moroccan businessmen, boosting the volume of trade exchange between the two countries, which stood at 330 million QR in 2017, registering a growth rate of 17 per cent over 2016, Mr Towar underlined.
Mr Towar highlighted that there are about 117 Qatari-Moroccan companies operating in Qatari market and six companies with 100 per cent Moroccan capital, and the total capital of these companies is about 20 million QR active in a variety of fields, including fashion and sewing, trade and contracting, hospitality, design and decoration.
The Vice Chairman expressed hope that the private sector in two countries will strengthen existing cooperation by establishing more trade partnerships and establishing joint ventures that will contribute to increasing the volume of trade exchanges, stressing the desire of Qatari businessmen to invest in the promising Moroccan market and benefit from the investment climate there.
The representative of the Moroccan Agency for Development of Investments and Exports AMDIE, Ali Mehrez reviewed in his presentation the development of the Moroccan economy, the most promising sectors for investment there, and Morocco's incentives for foreign investors.
Mr Mehrez stressed that Morocco is a safe investment destination, strategically located and offers investment incentives to attract more business people, making Morocco topping investor in Africa and the fifth at the competitiveness level in the continent.
UNI XC RJ 2120
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