Morocco, Saudi Arabia sign non-double taxation convention

Rabat - Saudi Arabia and Morocco signed here on Tuesday a convention for avoidance of double taxation and prevention of income-tax evasion.

The convention, signed by economy and finance ministers of the two countries, means to promote investments and trade between the two Arab countries.

The convention will help attract more Saudi investments and reinforce financial and economic cooperation between the two countries, said Moroccan economy and finance minister Mohamed Boussaid, before expressing gratefulness to Saudi Arabia for its initiatives to encourage and support Morocco's development efforts.

For Saudi finance minister, the convention will boost bilateral financial cooperation, especially as Morocco is showing the way in Arab countries in matters of economic reforms and is enjoying economic stability.