Saudi Business Council opened in Rabat Wednesday as part of the 11th Moroccan-Saudi joint commission. The meeting aims to strengthen the role of the Moroccan and Saudi businessmen with a view to further boosting cooperation between the two countries, spurring on investment opportunities and promoting bilateral partnership through suggesting recommendations to the Moroccan-Saudi joint commission, which will meet next Thursday at the ministerial level. Speaking at the meeting, Secretary General of Morocco's Foreign Affairs Ministry Youssef El Amrani applauded the Moroccan-Saudi privileged relations and the constant bilateral political dialogue. He also underlined that the businessmen's participation reflects that the two countries take crucial steps on the way to promote their relations, Global Arab Network reported Wednesday. This involvement meets the two countries' inspiration aiming at further boosting bilateral trade and economic exchanges and represents an added value to strengthen these strategic relations, he added. Undersecretary for Economic, Cultural Affairs at the Saudi Arabian Foreign Ministry Yusuf Bin Tarrad Al-Sadoun voiced optimism about the results of the next Moroccan-Saudi joint commission. He also voiced Saudi Arabia's strong commitment to promote and diversify investment and trade in order to include several sectors. The meeting will examine the various obstacles undermining trade and investment between the two Arab countries, chairman of the Moroccan-Saudi business council Adil Kâaki. Morocco's geographical location and market size make it “an ideal basis” to set up industries, Coface said in its report. Coface maintains grade A4 for the kingdom, judging that non-payment probability in the country remains “acceptable” with a “suitable” business climate.
