Asharq Al-awsat English Middle-east and International News and Opinion from Asharq Al-awsat Newspaper

Saudi-Moroccan Business Council Reiterates Demand to Launch Maritime Shipping Line

Saudi-Moroccan Business Council Reiterates Demand to Launch Maritime Shipping Line

Wednesday, 30 January, 2019 - 15:00

Saudi-Moroccan Business Council discussed on Tuesday launching a maritime shipping line to link the two Kingdoms, setting up a joint investment company to increase investment, and increasing reciprocal visits by the two countries businessmen.

The council is preparing to organize a joint economic mission to Gabon in the coming months, under its program to discuss business opportunities and joint investments in West Africa.

Khalid Benjelloun, the president of the Moroccan side, told Asharq Al-Awsat newspaper that this mission is based on an invitation sent to the council by businessmen from Gabon.

Mohammed al-Hammadi, head of the Saudi-Moroccan Business Council, announced that the two sides are set to pay a visit to Gabon shortly, in the first step to jointly enter the African-wide market, in order to take the advantage of such promising opportunities there, especially, in the domain of food-related security.

Saudi-Moroccan ties are excellent and oriented by strong political will and fraternal relations that link Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Mohammed VI of Morocco.

Furthermore, Hammadi stressed the necessity of bilateral economic cooperation, especially that the National Transformation Program 2020 - launched in the kingdom - encourages Arab and foreign investment.

The council has decided to form committees by sectors to study all customs, administrative challenges, and difficulties facing businessmen; and to set recommendations regarding the joint superior committee.

It also decided to work on establishing a superior council for investment, and forming a mixed Saudi-Moroccan committee to accomplish joint investments, develop commercial ties with Africa, and organize a permanent exhibition for Morocco in the kingdom (in Jeddah and Riyadh) to present the special sectors of Morocco, which are tourism, commerce, industry, and agriculture.

The council also will form an investment fund and a Saudi-Moroccan industrial zone.

Editor Picks