Mr. Mohammed BOUSSAID, Minister of Economy and Finance, and Mr. Ibrahim Ben Abdelaziz Assaf, Saudi Minister of Finance signed Tuesday, April 14th
, 2015 in Rabat, an agreement to avoid double taxation and prevent fiscal evasion with regard to income taxes.
This agreement aims to promote investment and trade between Morocco and the Saudi Arabia.
During his speech, Mr. BOUSSAID stated that this agreement will attract more Saudi investments through strengthening financial and economic cooperation between the two countries.
On the other side, the Minister expressed gratitude to Saudi Arabia for its efforts in encouraging and supporting development efforts launched by Morocco in various fields.
For his part, the Saudi Minister of Finance asserted that this agreement will strengthen cooperation between the two countries particularly in the financial sector, adding that Morocco is the first Arab country in terms of economic reforms.
Mr. Ibrahim Ben Abdelaziz Assaf welcomed Morocco’s economic stability , which encourages increasing the volume of Saudi investments in the Kingdom.