Moroccan Ambassador to Kuwait, Ali Benaissa: Morocco aims to double trade exchanges with Kuwait
Morocco seeks to double its economic exchanges with Kuwait in order to meet the aspirations of the two brotherly countries, said Morocco’s Ambassador to Kuwait, Ali Benaissa, on Sunday.
Speaking at the opening of the Kuwait-Morocco Economic Forum, held over two days in the Kuwaiti capital and organized by the Moroccan Investment and Export Development Agency (AMDIE) and the Moroccan Exporters’ Confederation, the diplomat stressed that this event represents a valuable opportunity to strengthen bilateral trade relations and open new prospects for fruitful cooperation, through partnerships between Moroccan and Kuwaiti companies.
On this occasion, Mr. Benaissa praised the depth of bilateral relations and the solid historical ties uniting the two countries, particularly highlighting the importance given to economic and trade relations through projects financed by Kuwaiti institutions, companies and investors, who benefit from the wide range of investment opportunities offered by the Kingdom across various sectors.
Held in partnership with the Kuwait Chamber of Commerce and Industry, the Forum brings together business leaders from both countries. The Moroccan delegation includes around thirty representatives of leading Moroccan companies active in several production and export sectors.
Kuwaiti investments in Morocco have recorded a significant increase over the past three years, reaching a total of 1.5 billion dollars, Mr. Benaissa noted, adding that trade exchanges between the two countries have seen their highest growth rate since 2018 over the last two years.
Moroccan exports to Kuwait amounted to more than 216 million dirhams (around 24 million dollars), while Kuwaiti exports to Morocco reached nearly 1.3 billion dirhams (140 million dollars), the ambassador specified. He emphasized the promising investment opportunities Morocco offers to economic institutions and business leaders, given the progress achieved in various national projects.
In this regard, he referred to Morocco’s organization of the 2030 FIFA World Cup in partnership with Spain and Portugal, and the vast investment opportunities this event presents, particularly in the field of infrastructure.
Morocco, he underlined, continues to improve its business and trade environment by implementing the provisions of the new Investment Charter, simplifying administrative procedures and offering financial and fiscal incentives to attract new investors and strengthen the competitiveness of national enterprises.
The forum aims to showcase Morocco’s investment opportunities, strengthen its economic partnership with Kuwait and expand trade prospects through the organization of B2B meetings to better highlight the key sectors represented at this edition.
The program of this economic event also includes presentations on investment opportunities in the Kingdom and Morocco’s exportable offerings across a wide range of products and services, notably olive oil, honey, argan, traditional clothing and children’s textiles, cosmetics, pharmaceuticals, IT services, and agricultural products.
Editorial team/le7tv
