Morocco, KSA mull setting up sea route, investment fund

Jeddah - The opening of a sea route between Morocco and Saudi Arabia and the setting up of joint investment fund were at the center of a meeting between businessmen of both parties as part of the Moroccan-Saudi Investment Fund held on Sunday in Jeddah.

Representatives of public and private sectors, and experts in investment, transportation, trade, technology, development and customs discussed the importance of sea transportation to boost bilateral trade.

Hamza Bakr, official at the Saudi council for trade and industry chambers, called for setting up a sea route linking the ports of Tangier, Radès and Jeddah. He even called for including Maghreb countries' ports to spur the economy.

For his part, Abdellah Abu El Fath El Idrissi, official at the Moroccan Equipment and transport ministry, underlined that the sea route project is in line with the strategic development plan by the ministry and called on Saudi businessmen to reinforce their presence in this sector.

Initiated by the Moroccan-Saudi Business Council, this forum was held as part of preparations for the 12th Moroccan-Saudi joint committee scheduled on Tuesday under the chairmanship of foreign minister Saad Dine El Otmani and Saudi counterpart HRH Prince Saud Al Faiçal.

Source : https://www.marocafrik.com/english/Morocco-KSA-mul...