Morocco and Britain launch business council to enhance trade
Morocco and The United Kingdom (UK) will officially launch this week their business council to promote cooperation between the two countries in the fields of economic trade, finance and investment, reported the official MAP news agency. The UK is Morocco’s third largest export market and it’s third largest source of imports.
The council’s main objective will be to supervise a $1.7 million business promotional scheme, launched by Britain, which has chosen Morocco as one of fourteen target markets worldwide for a special campaign of trade development. The British government expects the campaign to last three years.
Morocco is the UK’s fastest growing market in the Maghreb region. The country’s exports to the UK increased by 18 percent in 2000 and imports from the UK increased by 15 percent during the same period. In 2000, UK exports to Morocco totaled 6.7 billion Dirhams ($569 million) and in return, the UK imported 7.7 billion Dirhams worth goods from the North African state during the same year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)