Mrs. Nadia FETTAH, Minister of Economy and Finance, held, Monday June 3, 2024, a working meeting at the Ministry's headquarters with Mr. Bandar Bin Ibrahim AlKhorayef, Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, who is on a working visit to our country accompanied by a high-level delegation of Saudi officials.
At the outset of the meeting, the Minister praised the distinguished relations between the two brotherly countries under the generous patronage of His Majesty King Mohammed VI and the Custodian of the Two Holy Mosques King Salmane bin Abdelaziz Al Saud, may God protect them.
The Minister stressed that the Kingdom of Saudi Arabia is an important strategic partner of the Kingdom of Morocco at all levels, and that the Moroccan government is keen to develop and strengthen the existing partnerships between the two countries in many economic and investment fields, and to take them to the highest levels.
The Minister also praised the Kingdom of Saudi Arabia's support for our country's development projects in various fields, notably those linked to the ambitious structural and sectoral reforms that the Kingdom of Morocco has undertaken in recent years.
The Minister expressed her hope that this visit would provide an opportunity to strengthen cooperation ties between Moroccan and Saudi economic players. She called for more frequent field visits by Saudi businessmen and investors to familiarize themselves with the investment opportunities available in the Kingdom of Morocco. In addition, she suggested establishing joint investment projects with Moroccan counterparts in order to benefit from the Kingdom's privileged position as an investment and export platform to Europe and Africa, and to actively contribute to the realization of ambitious projects and investment plans in our country.
For his part, Mr. Bandar Bin Ibrahim AlKhorayef hailed the solidity of relations between the leaders, government and people of the two countries. He noted the great interest the Kingdom of Saudi Arabia takes in strengthening ties and prospects for economic cooperation with the Kingdom of Morocco, while diversifying its fields in view of the natural, human and investment potential of the two countries.
At the end of the meeting, a memorandum of understanding was signed between the Export-Import Bank of Saudi Arabia and the Bank of Africa, under which a $25 million line of credit will be made available to the Bank of Africa to strengthen the financing of Saudi non-oil imports into the Kingdom of Morocco.