Morocco-Saudi Arabia: Upcoming opening of a shipping line

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In order to breathe new life into economic cooperation and trade between the two countries, a maritime line will be opened between Morocco and Saudi Arabia in the coming weeks, announced Khalid Benjelloun, President of the Business Council. Moroccan-Saudi.

Saudi Arabia is Morocco’s largest trading partner in the Arab world. The total value of bilateral trade amounted to 17.2 billion dirhams in 2021 ($1.76 billion), according to data provided by the Minister of Industry and Trade, Ryad Mezzour, who leads the delegation. Moroccan during this forum.

In this regard, Mr. Benjelloun called for the need to relax administrative restrictions on exports and imports and the establishment of a Moroccan-Saudi investment fund to facilitate market access. to small and medium-sized enterprises, encourage partnerships between companies of the two countries, as well as help them obtain financing.

During the work of the Forum, organized in cooperation with the Saudi-Moroccan Business Council of the Council of Saudi Chambers, the most important investment and partnership opportunities between Morocco and Saudi Arabia and the potentialities of the markets of the two countries were reviewed, as well as the obstacles faced by investors and the solutions proposed to encourage investment and double the volume of trade between the two countries.

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