Moroccan firms seek Saudi investment 

(MENAFN - Arab News) A visiting Moroccan business delegation, representing 39 industrial and commercial companies, explored at the Riyadh Chamber of Commerce and Industry (RCCI) yesterday with Saudi businessmen the best means on how to exploit investment opportunities in Morocco and to create partnerships between the businessmen in both countries.

Head of Moroccan Export Development Center Saad Al-Deen bin Abdullah, who leads the delegation, said the visit is aimed at expanding and diversifying the volume of trade exchange between the two countries through entry into business partnerships.

Trade exchange between the two countries reached SR8.3 billion in 2010.

He said the geographical position of both countries in Africa and Asia will qualify them to form the biggest markets in the two continents which, he said, necessities creation of viable business partnerships.

He said Saudi-Moroccan business relations have witnessed remarkable progress where the volume of Saudi exports to Morocco reached 3 billion and Moroccan exports to Saudi Arabia hit 40 million.

For his part, RCCI board member and head of export committee Saad Al-Kiridis expressed desire of Saudi businessmen to strengthen business relations with their Moroccan counterparts.

He stressed the importance of creating outstanding partnership relations so as to exploit investment opportunities existing in both countries.

Meanwhile, board chairman of Saudi-Moroccan Business Council (SMBC) Khalid Banjloun called on businessmen to benefit from business potentialities and privileges that exist in both countries, particularly their proximity to world markets. The current world challenges should be an incentive for both countries' businessmen to expand cooperation for the best interests of both counties, he said.