Kuwait city: The Ambassador of the Kingdom of Morocco to Kuwait, Ali Ibin Issa, affirmed on Sunday his country's aspiration to double trade exchange with Kuwait to elevate it to advanced levels that meet the ambitions of the two brotherly countries and reflect the depth of the relations between them.
According to Kuwait News Agency, this statement was made during Ambassador Ibin Issa's opening speech at the launch of the Kuwaiti-Moroccan Trade Forum, which is set to continue for two days in Kuwait. The event is organized by the Moroccan Agency for Investment and Export Development and the Moroccan Exporters Confederation, in cooperation with the Kuwait Chamber of Commerce and Industry, with participation from many businessmen from both countries.
He stated that the forum represents an opportunity to strengthen trade relations between the two countries and contributes to opening broader horizons for cooperation and establishing trade partnerships between representatives of Moroccan and Kuwaiti companies. He noted that Kuwaiti investments in Morocco have increased over the past three years, reaching a total of USD 1.5 billion.
He added that the volume of trade exchange between the two countries recorded its highest growth in the past two years since 2018. Moroccan exports to Kuwait exceeded MAD 216 million (approximately USD 24 million), while Kuwaiti exports amounted to MAD 1.3 billion (equivalent to USD 140 million).
He expressed his belief in the promising investment opportunities available to economic institutions and businessmen, citing the progress Morocco is making in future projects, referring to the hosting and organization of the 2030 FIFA World Cup in partnership with Spain and Portugal, which offers investment opportunities related to infrastructure development.
Ambassador Ibin Issa affirmed that Morocco continues to improve the business and economic environment by implementing the provisions of the new investment charter, simplifying administrative procedures, and offering financial and tax incentives, which contributes to attracting new investors and enhancing the competitiveness of companies.
He praised the depth of bilateral relations between the two countries and the strong historical ties they share, especially the attention given to their economic and trade relations through projects funded by Kuwaiti institutions and companies, taking advantage of the investment opportunities Morocco offers in various sectors.
The forum aims to showcase investment opportunities in Morocco, strengthen economic partnerships, and expand trade prospects by organizing bilateral meetings between businessmen in Kuwait and representatives of Moroccan companies and institutions to learn about the sectors participating in the forum.